Licensing is a business arrangement in which one company gives another company permission
to manufacture its product for a specified payment. In return, the licensor gets a percentage of
the revenue from products or services sold under its license. Licensing fees typically amount
to a small percentage of the sales price but can add up quickly.
a) Describe four (4) intangible property that can be grant by a licensor. b) Explain three (3) advantages and disadvantages of doing business by licensing.