Licensing Definition and Explanation PDF Download
Learn Licensing definition in marketing with explanation to study “What is Licensing”. Study licensing explanation with marketing terms to review marketing course for online MBA programs.
Licensing Definition:
A method of entering a foreign market in which the company enters into an agreement with a licensee in the foreign market.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Licensing Explanation:
There are not many quicker or more gainful approaches to develop your business than by authorizing licenses, trademarks, copyrights, plans, and other protected innovation to other people. Authorizing lets you immediately tap the current generation, dissemination and advertising frameworks that different organizations may have gone through decades building. Consequently, you get a level of the income from items or administrations sold under your permit. Authorizing charges normally sum to a little level of the business cost however can include rapidly. For instance, around 90 percent of the $160 million per year in deals at Calvin Klein Inc. originates from authorizing the architect's name to producers of clothing, pants and fragrance.
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