Licensing

In a licens­ing rela­tion­ship, one busi­ness (the licen­sor) allows anoth­er busi­ness (the licensee) to use its intel­lec­tu­al prop­er­ty (such as a patent­ed tech­nol­o­gy or trade­mark) in exchange for roy­al­ties or oth­er forms of com­pen­sa­tion. Licens­ing rela­tion­ships may be exclu­sive or non-exclusive.