A license refers to the usage rights granted through a contract for a brand. In brand license agreements, the person granted authority obtains the right to use the trade name, not the ownership of the name itself. Therefore, the core usage rights of the brand remain with the brand owner. In this case, the licensing agreement is profitable for both parties. Thanks to the brand usage rights, the trade name owner has the opportunity to further disseminate their brand, while the person receiving the brand authority can use the existing name without having to create, promote, register, and protect a new trade name.