https://docs.google.com/viewer?a=v&q=cache:d4G9g3u7e9kJ:www.ipo.gov.uk/licensingbooklet .

pdf+licensing+and+ipr&hl=en&gl=my&pid=bl&srcid=ADGEESjcap2RmFhSkKtEMrR571rGnBcU_95Vdswow52LymL6XTEQVuYOeDLc5yDtoZkYQOEV1DZOcRnHRDWo4gD2tjqlBv2rpCtZH3UTMU7Kx0kn1ZjFTDyuw9Ivkziu85chJ8M1n&sig=AHIEtbRu_DQ73ONJha7EK8T2fTu8 3YILoA

http://www.wipo.int/sme/en/ip_business/licensing/licensing.htm

http://www.wipo.int/sme/en/ip_business/licensing/franchise_license.htm http://www.fundinguniverse.com/company-histories/PepsiCo-Inc-Company-History.html Licensing is very important in all businesses. If products and companies were not protected by Intellectual Property Rights, this will expose them to the risk where their product will be imitated by another company. For example, if Coca Cola were to expose its formula to create Coke, the company will lose its specialty in creating the same product. In order to be the one and the only one having the product, companies need to be protected with licensing. The purpose is to differentiate one product from another in the market. For example, Pepsi Co. tried to buy the syrup from Coca Cola but Coca Cola refuses to sell them the syrup. This is to ensure the confidentiality of the formula of their product. If the formula is being exposed, Coca Cola will be at the risk of their product being manipulated.