The world practice of license trade refers to the legal permission granted by a government or regulatory body to undertake certain activities in exchange for payment. There are several synonyms that could be used to describe this practice, including licensing system, regulated commerce, authorized trading and permitted transactions. In addition, terms like franchising, contracts, and permits could also be used to describe this practice. The license trade is an important aspect of the global economy and requires a thorough understanding of the relevant laws and regulations. Businesses that engage in license trading must comply with the guidelines put in place by regulatory agencies to avoid penalties and legal complications.