Licensing

Licensing is a business arrangement that grants permission to use intellectual property, such as trademarks, patents, copyrights, or trade secrets, in exchange for a fee or royalty.
Licensing allows licensors to monetize their intellectual property and expand their reach into new markets, while licensees gain access to valuable assets without having to develop them from scratch.
Licensing can be a flexible and cost-effective way to commercialize intellectual property, as it allows licensors to leverage their assets across various industries, geographies, or product categories. Licensing agreements typically outline the terms and conditions of use, including the scope of the license, royalty or fee structure, quality control requirements, and legal protections.