So does IBM license their parts/patents?
Sure, and IBM has lots of patents, but not for anything inside the personal computer that hasn't expired long ago.
The term "IBM Compatible" is antiquated and really just a marketing term from the 1980's that never went away. The term should have been replaced with "Windows compatible", "PC compatible", "x86 compatible", or some permutation of those.
IBM never really 'owned' the standard, its just that computers manufactured by IBM dominated first the business and then personal use markets. When IBM clones became available, it was important to consumer acceptance for there to be compatibility with IBM's products. They were, after all, IBM clones.
Intel owned most of the patents on x86 and various bus architecture. The PC world split from IBM when it tried to ram its proprietary and patented PS/2 and Micro-Channel Architecture (MCA) down everyone's throat and the industry chose to go with EISA instead, which was the product of an industry working group.