0 the act of giving people official permission to do, have, or sell something:
1 the process of giving or getting official permission to do something:
2 the process of giving or getting permission to have, produce, or use something that another person or company has created or owns:
I had a business plan but it was based on a lack of understanding of copyright and licensing.
Warner Bros agreed nearly 50 licensing deals with companies for other merchandise.
Licencing is another development in jewellery, especially those targeting younger customers.