- licensing
- Arrangement in which a local firm in the host country produces goods in accordance with another firm's (the licensing firm's>) specifications; as the goods are sold, the local firm can retain part of the earnings. Bloomberg Financial Dictionary
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1. to give official permission for someone to do something or for an activity to take place:• The building contractors we hired were licensed by the General Service Administration.
• The company is confident that it will be licensed to do business in California after the start of the new year.
2. to give someone permission to make or produce something to which you hold the patent (= the legal right to make or sell a new product ) or copyright (= the legal right to be the only producer or seller of a book, play, film, or record ) , usually in return for payment:• The company has licensed certain manufacturing and marketing rights for the drug.
license something to somebody• He has licensed the device to a farm equipment manufacturer.
3. to receive permission to make or produce something from the person or company that holds the patent or copyright to it, usually in return for payment:license something from somebody• It has licensed electronic publishing rights for the Chinese dictionary from a British publisher.
— licensed adjective [only before a noun] :• licensed operators of nuclear power plants
— licensing noun [uncountable] :• It has licensing agreements that allow it to use some of Computer Associates' software.
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licensing UK US /ˈlaɪsənsɪŋ/ noun [U]► LAW, GOVERNMENT the process of giving or getting official permission to do something: »He advocates mandatory licensing and background checks for the private ambulance sector.
»The system is not subject to state licensing.
► LAW, COMMERCE, IT the process of giving or getting permission to have, produce, or use something that another person or company has created or owns: »This market represents a growth area for the company, both in terms of new products and product licensing.
»Microsoft's licensing rules allow corporations' units in different countries to share licences.
»Last year they signed a licensing agreement with the US government.
Financial and business terms. 2012.
