The foundation of every business often lies in the official legal documents that allow it to be approved as a company. Among these documents are licences, which define the rights of a company around a range of products or services they can sell.
Licensing is often specific to every country, state and city. Licensing is necessary in order to regulate markets and meet demands. It is also an efficient way to control markets that include dangerous products such as alcohol or rifles selling.
In the tech space, licensing can spread across both hardware and software products.