Asked by Doris Mansueto on Jul 17, 2024
Verified
A licensing agreement is a form of international business through which a foreign company pays a fee for the rights to manufacture or sell another firm's products in a specified region.
Licensing Agreement
The payment by a local firm to a foreign firm for rights to make or sell its products.
Specified Region
A particular area or district that is delineated for a specific purpose or activity.
- Comprehend the principle and varieties of global business, such as franchising, direct investment, and collaborative endeavors.
Verified Answer
NY
Neeraj YadavJul 21, 2024
Final Answer :
True
Explanation :
A Licensing agreement is a legal contract between two parties, where one party grants the other party permission to use its intellectual property in exchange for a fee or royalty. It is a common form of international business where the licensor allows the licensee to make, use, and sell their patented or copyrighted products in a specific geographical area.
Learning Objectives
- Comprehend the principle and varieties of global business, such as franchising, direct investment, and collaborative endeavors.
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