licensing

Definitions

Economics

  • The requirement that importers and/or exporters get government approval prior to importing or exporting. Licensing may be automatic, or it may be discretionary, based on a quota, a performance requirement, or some other criterion.
  • Granting of permission, in return for a licensing fee, to use a technology. When done by firms in one country to firms in another, it is a form of technology transfer. See compulsory licensing.

Law

  • adjective relating to licences
http://www.dictionarycentral.com/definition/licensing.html