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In this YouTube video, the host, Andrew Krause from Enventys Partners, discusses the basics of licensing contracts. He explains that a patent protects an idea, while a licensing agreement is an agreement with a company to pay royalties for the sale of a product. He emphasizes the importance of having a licensing agreement and shares that some companies may not be concerned about patents when entering into such agreements. It is essential to understand the key components of licensing agreements to avoid any surprises.
