Technology Transfer and Licensing in International Commerce

Technology transfer and licensing in international commerce involve sharing expertise, knowledge, or technology between parties across borders. This process allows one party, often the technology owner, to grant permission for another party to use, produce, or sell their technology under specific conditions. Licensing agreements outline terms such as fees, duration, and usage rights. This enables companies to expand into new markets, foster innovation, and enhance competitiveness while protecting intellectual property. Overall, it facilitates collaboration and growth in the global economy by promoting the exchange of advanced technologies and ideas.