| Little licensing glossary
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| General definition
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| In general, the definition of "License" is an official document that gives permission to a subject to do, use, or own something. The licensing options are categorized into 4 main groups, namely; business licensing, product licensing, trade licensing and intellectual property licensing.
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| Business license
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| A business license grants the owner the right to start and run a particular type of business in the city, county, state, or country that issues it. It is a type of permit indicating the company has the government’s approval to operate. Government agencies can fine or shut down a business that operates without a license.
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| Product licensing
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| Product licensing involves obtaining permission from a licencor to manufacture and sell one or more of its products within a defined market area.
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| Trade licensing
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| Trade licensing is a document/ certificate that gives permission to the applicant to commence a particular trade or business in a particular area/ location. However, the license does not allow the holder to any other trade or business than for it is issued. Furthermore, this license does not pass on any kind of property ownership to the holder of the license. This kind of license ensures that no one is carrying out any unethical business practices. This license creates a harmony in society that every business is following relevant rules, guidelines and obeying safety measures.
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| Intellectual property licenses
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| Intellectual property licenses in general can be defined as a way to protect intellectual property by using legal instruments such as patents, copyrights, trademarks, or other legal devices. Intellectual property licensing is an exclusive right for the creator or the right recipient to publish or reproduce his work or give permission for it without reducing the limitations according to the prevailing laws and regulations.
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