Answer:
Software Licensing is pretty much allowing another company to use your own product.
Explanation:
For Example:
Company A is working on a face swap application which requires a facial recognition software in order to work. They can either build one from scratch (which can take months) or they can pay someone who already has one in order to be able to use it.
Company B owns a facial recognition software and are asked by Company A to license their software to them. Company A pays Company B, they then draft up a contract for Company A allowing them to use the facial recognition app.
Software licenses are either proprietary, free, or open source. Proprietary is the one used in the example above.
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