What is Licensing?
Think of licensing as renting out the rights to something you own. Instead of selling it outright, you grant someone else permission to use your intellectual property under specific terms, while you retain full ownership.
For example, if you own a popular burger recipe, you could allow other businesses to use your recipe, brand name, and logo in exchange for a fee or a percentage of sales. They operate under your established brand, and you create income without taking on the overhead of opening every location yourself.