Technology Licensing

 
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Technology Licensing

A contractual agreement in which an owner of a technological intellectual property (the licensor) permits another party (the licensee) to modifies, use, and/or resells that property in exchange for consideration or compensation. A technology licensing arrangement typically allows a business to enter an international market quickly and poses fewer legal and financial and risks than operating and owning a foreign manufacturing facility or participating in an international joint venture.

This entry was posted in dictionary on December 13, 2017 by Tanushka.