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In this tutorial, Rainey from Finance Strategist discusses licensing agreements, which are contracts allowing one party to temporarily use another party's property in exchange for a licensing fee. The agreements transfer ownership rights from the licensor (owner) to the licensee (user) and are commonly applied to intellectual property like patents, trademarks, copyrights, movies, music, and artwork. Examples include a movie studio licensing character copyrights to a toy manufacturer for action figures and a pharmaceutical company licensing a drug patent to a manufacturer in a cost-effective location. Additionally, revocable licensing agreements in real estate offer limited rights to the renter, as the licensor can terminate the agreement at any time.
