product licensing

Product licensing is a legal agreement where one party (the licensor) permits another party (the licensee) to use, produce, or sell a product or brand under specific conditions. This arrangement allows the licensee to benefit from the established reputation or technology of the licensor without having to create it independently. In exchange, the licensee typically pays royalties or licensing fees to the licensor. This practice is common in industries like entertainment, fashion, and technology, enabling collaboration and expansion of brands or products across different markets without relinquishing ownership.