Licensing fees refer to the payments made by a company or individual for permission to use intellectual property, such as patents, trademarks, and copyrights. These fees are typically charged by the owner of the intellectual property as a way to generate revenue from its use. The amount of the fee varies depending on factors such as the type of intellectual property, the scope of the license granted, and the industry in which it will be used. Licensing fees can also include royalties or other payments made over time based on the sales or usage of the intellectual property.