Five chapters on the basics: what a license is, the IP it rests on, what makes anime rights different from Western ones, how licensing compares with distribution and co-production, and who gains from a deal.
1.1 What is licensing? (Renting rights instead of owning them)
Licensing is permission to use someone else's intellectual property (IP), like a character, logo, or series title, for a specific purpose, place, and period of time. You don't buy the IP. You rent the right to use it, usually in exchange for a share of your sales.