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In this YouTube tutorial, Andrew Krause discusses licensing contracts and the basics of what they entail. He explains that a licensing agreement is an agreement with a company to pay royalties while selling a product, separate from a patent which just protects something. He emphasizes the importance of having a licensing agreement, and notes that some companies may not prioritize patents when making these agreements. Krause suggests that it is common for companies to focus on royalties rather than patents when entering into licensing agreements.
