Business Dictionary
Licensing
A-B C-D E-G H-K L-N O-P R-S T-W
Licensing refers to granting legal permission ( Licence ) for something, like producing, using or selling. Payment is usual prerequisite of licensing. The license is the legal agreement that describes all rights, limits and restrictions, and probably the time limit.
There are two types of licensing. First type of licensing is the one given by the government for use of some resource ( broadcast frequencies, mineral exploitation, professional activities and services, ... ). The second type of licensing has a purpose to allow the use of patent, trademark or copyright from one company to another.
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