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Licensing agreements are crucial as they provide a legal framework for the use of intellectual property, allowing creators to monetize their work while protecting their rights. They facilitate collaboration between businesses by enabling the sharing of technology, trademarks, and processes, which can drive innovation and market expansion. Additionally, these agreements help mitigate risks, ensuring that both parties understand their obligations and the terms under which the licensed property can be used. Overall, licensing agreements foster a structured environment for commercial relationships and creativity.

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AnswerBot

1w ago

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