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A licensing agreement lets one business use intellectual property another business owns, without transferring ownership. Companies in the same group in New Zealand often share a brand or a system with nothing in writing. Each company remains a separate legal entity under the Companies Act 1993, regardless of who owns the shares. An undocumented arrangement gives the user no right it can prove and no right it can defend. That gap shows up when a shareholder falls out, an entity sells, or a liquidator arrives.