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Licensing. Definition: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment. There are few faster or more profitable ways to grow your business than by licensing patents, trademarks, copyrights, designs, and other intellectual property to others ...
Examples of licenses include a company using the design of a popular character, e.g. Mickey Mouse, on their products. Another example would be a clothing manufacturer like Life is Good licensing its designs and brand in a certain country to a local company.
Licensing is used by brand owners to extend a trademark or character onto products of a completely different nature. Examples of intangible assets include a song (“Somewhere Over The Rainbow”), a character (Donald Duck), a name (Michael Jordan), or a brand (The Ritz-Carlton).
A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. ... For example, a retailer might reach agreement with a professional sports team to develop, produce, and sell merchandise bearing the sports team's logo.
Definition: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment. There are few faster or more profitable ways to grow your business than by licensing patents, trademarks, copyrights, designs, and other intellectual property to others.
Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction. It is the authorization to start a business issued by the local government. ... Business licenses vary between countries, states, and local municipalities.
Main Purpose of Business Licenses and Permits A seller's permit, for example, serves that purpose well. While business licensing is enforced for tax reasons, another reason for licensing is that the government has an interest in regulating businesses that may affect public safety, such as food service.
To operate your business legally, you'll need the proper licenses or permits from the appropriate agencies. ... And if your business is involved in activities supervised and regulated by a federal agency, then you'll need to obtain a federal license or permit, as well.
By Angie Deal. Software licensing strategy involves the decision-making process and implementation of rules or policies for protecting the intellectual property of a software developer.
A licensing agreement is a partnership between an intellectual property rights owner (licensor) and another who is authorized to use such rights (licensee) in exchange for an agreed payment (fee or royalty).
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