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What Is Licensing? What Is the Principle Behind Its Success

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What is licensing? What is the principle behind its success?


Definitions:

Operation of Law

Legal changes or transfers that happen automatically due to existing laws rather than through an agreement or court order.

Importation

The act of bringing goods or services into a country from abroad for sale.

Partnership Dissolution

The process of legally terminating a business partnership, involving the winding up of business activities, settling debts, and distributing remaining assets to partners.

Partnership Assets

Properties, resources, or financial investments owned jointly by partners in a business partnership.

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