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Licencing
A business arrangement in which the manufacturer of a product (or a firm with proprietary rights over certain technology, trademarks, etc.) grants permission to some other group or individual to manufacture that product (or make use of that proprietary material) in return for specified royalties or other payment.
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- Part of Speech: proper noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International trade
- Company:
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- Acronym-Abbreviation:
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