Asked by Grace Devine on May 05, 2024
Verified
Raceway LLC licenses the trademarks to its products to Stadium Markets Inc. to reproduce on clothing and other goods for sale. This is
A) a franchise.
B) none of the choices.
C) a partnership.
D) a sole proprietorship.
Trademarks
Icons, titles, or expressions that are legally recognized or adopted through usage to signify a corporation or merchandise.
Licensing
The act of granting official permission to use intellectual property, perform specific activities, or operate legally under defined conditions.
Sole Proprietorship
A business structure where a single individual owns and runs the business, enjoying full control and responsibility for its debts and liabilities.
- Gain an understanding of the legal variances existing between distinct business structures, including sole traders, alliances, and franchise contracts.
Verified Answer
ZK
Zybrea KnightMay 07, 2024
Final Answer :
A
Explanation :
This is a licensing agreement where Raceway LLC allows Stadium Markets Inc. to use its trademarks on products. This is not a partnership, sole proprietorship, or a franchise in the traditional sense where a business model is provided.
Learning Objectives
- Gain an understanding of the legal variances existing between distinct business structures, including sole traders, alliances, and franchise contracts.