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In this tutorial, Rainey from Finance Strategist discusses licensing agreements, which are contracts allowing one party to use another's property for a fee. These agreements transfer ownership rights from the licensor (property owner) to the licensee (user). Commonly used for intellectual property (patents, trademarks, copyrights), examples include a movie studio licensing character copyrights to a toy manufacturer and a pharmaceutical company licensing a drug patent to a third-party manufacturer to cut costs. Additionally, in real estate, revocable licensing agreements may serve as alternatives to leases, granting limited rights to the licensee since the licensor can revoke the license.