A licensing arrangement is an agreement in which the licensing firm grants rights to another firm in another country or market to produce and/or sell a product.

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A licensing arrangement is a legal contract in which the company that owns intellectual property grants permission to another company to use that property for a specific purpose. This can include the right to produce, market, and sell a product. The company that grants the license is referred to as the licensor, while the company that obtains the license is known as the licensee.

A Licensing Arrangement Is an Agreement in Which the Licensing