Before engaging in any form of licensing or franchising, companies are strongly advised to secure their IPR, not only in their home country but also in China. Licensing is generally defined as the permission granted by an exclusive owner of IPR such as trademarks, copyrights, technology, or patents to another party to use such IPR on agreed terms and conditions including the payment of royalties whereas the IPR owner retains ownership of the IPR. As a company grows and develops a reputation for quality services and products, its intellectual property becomes more valuable and more susceptible to counterfeiting. Nowadays, licensing and franchising are no longer reserved to multinational brand companies and niche-market ...
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