Licensing

 
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Licensing

Licensing is an official permission, to own or use something (as well as the document of that permission). It is also an authorization (by the licensor) to utilize the licensed items or concepts (by the licensee). A license can be arranged by a person ("licensor") to another person ("licensee") as an element of an agreement between those parties. It is also an agreement in which an organization sells the rights to utilize its products or services but hold on to some control.

This entry was posted in dictionary on October 18, 2017 by Tanushka.