What is the licensing meaning?
to give someone official permission to do or have something: The universities make discoveries and license them to a company. [ + to infinitive ] Several companies have been licensed to sell these products. You could give them individual tenancies on the bedrooms and licence them the common areas of the house.
What is an example of licensing?
Example: An example would include Walt Disney granting McDonalds a license for McDonalds to co-brand its McDonalds Happy Meals with a Disney trademarked character; (b) A license where a technology company, as licensor, grants a license to an individual or company, as licensee, to use a particular technology.
What are licensing in business?
Licensing: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment.
What does licensing a product mean?
Product licensing involves two parties: a licensor and a licensee. The licensor owns the rights to certain intellectual property (IP) while the licensee manufactures products using the IP granted by the licensor via a license agreement. The licensor is able to offer new products that fall outside its core competencies.
Is there such a word as licenses?
License means permission to do something, especially formal permission from a government or other authority. The word often refers to the proof of that permission, such as a card or certificate. The most common types of licenses are driver’s licenses, professional licenses, and licenses for businesses.
Why is licensing important?
Importance of Licensure. Professional licensure protects the public by enforcing standards that restrict practice to qualified individuals who have met specific qualifications in education, work experience, and exams.
Does Coke use licensing?
Today Coca-Cola has over 300 licensees producing thousands of products all over the world. Kith x Coca-Cola 2018 is the most recent example of Coca-Cola’s use of apparel and fashion over the decades to position the brand as a lifestyle, generally through licensing.
How do you use license in a sentence?
License sentence example
- I reported the license plate number to him.
- I read the license plate.
- Did someone give them my license plate number?
- One of my men spotted a Pace Arrow and was about to stop it when he saw it had Alabama license plates so he let it pass and kept going.
When would you use a license?
License is both a noun and a verb in the United States. If you live in any other English-speaking country, you will spell it licence when you use it as a noun and license when you use it as a verb.