2. What is Licensing?
Licensing is an agreement between two different companies or one same company
that are stationed in different countries. In order to conduct business in a different
country with a different business you need permission to do so. The same goes for
if you desire to run your business in another country. There are certain rules and
regulations you need to follow in order to do this.
When you get licensed you have permission to make business with another
country.
3. How it works
Licensing is something international companies must do in order to conduct
business in different countries. For example a popular fast food place like
McDonalds have many different locations world wide. They wouldn’t be able
to run their business in different countries if they hadn’t gotten permission to
do so. They got a license that states they can sell their products in foreign
territory. Without it McDonalds would only be sold in the United States.
