A licensing agreement is a partnership between an intellectual property rights owner (licensor) and another who is authorized to use such rights (licensee) in exchange for an agreed payment (fee or royalty). A variety of such licensing agreements are available, which may be broadly categorized as follows:

– Technology License Agreement
– Trademark Licensing and Franchising Agreement
– Copyright License Agreement

Source: https://www.wipo.int/sme/en/ip_business/licensing/licensing.htm