Meaning of the word licensing in English

What does licensing mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

licensing

US /ˈlaɪ.sən.sɪŋ/
UK /ˈlaɪ.sən.sɪŋ/

Noun

the granting of licenses, especially to permit the use of something or to allow an activity to take place

Example:
The company handles the licensing of its software products.
New regulations will affect the licensing of restaurants.