The document discusses intellectual property licensing. It defines licensing as an agreement where the IP owner (licensor) allows another person (licensee) limited use of the IP. There are different types of licensing including exclusive, sole, and non-exclusive. Developing an effective licensing strategy involves protecting the IP, finding the right licensee, assessing foreign markets, and negotiating a fair contract covering compensation, territory, conditions, and more. Franchising is also discussed as a type of licensing where the franchisor's business system is licensed in exchange for fees.