A method of engaging in international marketing by which a company gives another the right to use its patent and trademark for a fee is

Licensing is a method of engaging in international marketing by which a company gives another the right to use its patent and trademark for a fee. This means that the company allows another company (in a foreign market) to produce and sell its products, while using the original company's trademark and patent. The licensee company pays a fee or royalty to the original company for the right to use their intellectual property. Licensing is a way for companies to expand their business internationally without the need for large investments in foreign markets, as they can rely on the local knowledge and expertise of the licensee.