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What does licensed mean?

Looking for the meaning or definition of the word licensed? Here's what it means.

Adjective
  1. (of a person or enterprise) having been issued with a licence (by the required authority)
    1. (of a shop or restaurant) allowed to sell alcohol
  2. (of an activity) authorized by licence
    1. (of a product) based on an existing piece of intellectual property and sold under licence.
Verb
  1. simple past tense and past participle of license
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