One variation of licensing is referred to as

One variation of licensing is referred to as Franchising.

Explanation:

In a mode of business like Franchising, there are two parties involved. One is the Franchiser and the other is Franchisee. Franchiser is the owner of the company who is giving licence to a franchisee to use the brands of the franchiser. Franchisee uses the name, logo, products, services, etc, of the franchiser. The purpose of giving this license by the franchiser to the franchisee is the expansion of his business whereas franchisee enjoys handsome profits by using an established business name.

I believe the answer is: Franchising

Franchising refers to a business model where a certain brand can rent its licenses its know-how, procedures, and intellectual property to the buyers. The buyers later on obtained the right to operates a business under the brand's banner. Examples of large franchises in united states are McDonalds, Subway, 7-eleven, etc.