Licensing

Licensing is when an organization gives another organization the right to make or sell its products using its technology or product specifications.

Definition

According to Management by Robbins and Coulter (14th edition),

Licensing. An organization gives another organization the right to make or sell its products using its technology or product specifications.

According to Managing Quality by Foster (6th edition),

Licensing. A method of reaching international markets that does not require the establishment of international supply chains or marketing arms.