The advantage of licensing is giving permission to trade freely.
<h3 /><h3>What is licensing?</h3>
Licensing can be defined as the permission that the company needs in order to produce the object or manufacture also sell a product in the current market or in a foreign market.
In a normal worldwide licensing agreement, the licensee provides the majority of such funding required to launch the business overseas and earn profit or revenue from there.
As a result, a key benefit of licensing is that it spares the company from the expenses and dangers involved in entering a new market abroad.
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What is the advantage of licensing?