licensing and franchising

Licensing and franchising are business arrangements where one party (the licensor or franchisor) grants permission to another party (the licensee or franchisee) to use its intellectual property, brand, or business model in exchange for fees or royalties. Licensing typically involves the use of trademarks, patents, or copyrighted materials, while franchising involves the replication of an entire business system, including brand identity, operations, and support.

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