jerzy thinks that he would like to work closely with someone who really knows the spanish market, and he is not concerned with maintaining high levels of control over his product. he is considering giving leon the rights to use his shoe designs for a fee. this will keep jerzy's costs down but still give his shoes a wider exposure

A licensing agreement permits one party (the licensee) to utilize and/or profit from the owner's property (the licensor).Licensing agreements generate money for a firm in the form of royalties in exchange for allowing another company to use its copyrighted as well as patented property.

What is the significance of licensing?

Making sure your business is properly licensed protects you, your staff, and your customers. Having the proper license will secure your personal assets in the event of a lawsuit, as well as provide protection for you when your business is harmed.

How is revenue generated through licensing?

Licensing earnings are earned by another firm through the authorized use of one company's activities, and services, including intellectual property. Licensing agreements spell forth the limitations and terms under which an entity may use a licensor's materials, as well as the fees that must be paid.

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