Licensing involves selling copyrights, patents, trademarks or trade names or legal rights in exchange for fees known as royalties. Thus a company is selling the right to produce their goods.

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Licensing allows a company to sell the rights to use its intellectual property, such as copyrights, patents, or trademarks, to another party in exchange for royalties, enabling the licensee to produce and sell goods using that intellectual property.

Licensing Involves Selling Copyrights, Patents, Trademarks or Trade Names or Legal