Licensing models refer to the various ways in which a company can grant permission to others to use its intellectual property, such as software, trademarks, or patents. These models can include exclusive licenses, where only one licensee has the rights, and non-exclusive licenses, which allow multiple parties to use the same property. Each model has its own benefits and drawbacks, depending on the goals of the licensor and licensee. Another common licensing model is the royalty-based license, where the licensee pays a fee based on usage or sales. This model is often used in industries like music and software, allowing creators to earn revenue while enabling others to utilize their work. Understanding these models helps businesses make informed decisions about how to protect and monetize their intellectual property.