License Software Instead of Building
Licensing existing software is usually faster and cheaper than building from scratch. You can launch in weeks, you pay a licence fee instead of a development team, and you start from a product that already works. Building makes more sense when the software is your core, unique advantage.
When licensing wins
Licensing wins when you need to launch fast, when the product isn't what sets you apart, or when you want to test a market before you invest.
When building wins
Building wins when the software is your competitive edge, when you need full control over the roadmap, or when no existing product fits.
Middle ground: source-code licences
A source-code licence gives you a working codebase that you can extend yourself. You get licensing's speed and the control you'd have from building.
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