What are some ways that licensing harms minorities Just need

What are some ways that licensing harms minorities?

Just needs to brief 300 words.

Solution

Licensing can create problems for small businesses both in the capacity of Licensor and Licensee. When a small business initiates to take a license for a certain product or service, the major hurdle is the cost involved. The cost of taking a license can vary according to the product/service and can range from a few hundred to thousands of dollars. Secondly, another major concern of licensing is the total time taken to acquire the license. This can range from a couple of weeks to months if it requires to pass an evaluation and submit a proposal. Thirdly, if a small business is a licensor to a third party, it may lose substantial cash flow if the third party goes bankrupt. Another major disadvantage to a small business is that if it grants the license to a large corporation for using its IP, the larger corporation may tweak the terms of licensing in its favor.