licensing

licensing definition - business

licensing

A contractual arrangement in which the legal owner grants another permission to use intellectual property such as a brand. For example, a well-known regional real estate firm may reach a licensing agreement for another company to use the firm's brand name in a different region of the country.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.