What does it mean to license a process or technology?
When a company licenses a process or technology to another company, they are basically letting that company utilize their process or technology in exchange for a fee.
Presumably, the licensor has a unique process or technology that is patented or cannot be easily replicated, so the licensee is willing to pay a fee to utilize the process or technology.
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You might also be interested in... What is franchising?
Franchisors are entities that provide marketing services, deliver strategies, training and support to their franchisees in exchange for a fee.
What is franchising?
Franchisors are entities that provide marketing services, deliver strategies, training and support to their franchisees in exchange for a fee.
