GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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agreement where one company, the licensor, makes an asset available to another company, the licensee, in exchange for some form of compensation
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ability to compete and participate on the global market
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act of a student pursuing educational opportunities abroad
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set of achievements which make a person more appealing to a potential employer
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unconstrained purchase and sale of goods and services between countries without tariffs, duties or quotas
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Detailed explanation-1: -Licensing is a contractual agreement whereby one company (the licensor) makes a legally protected asset available to another company (the licensee) in exchange for royalties, license fees, or some other form of compensation.
Detailed explanation-2: -A license contract, also known as a license agreement or licensing agreement, is a type of contract where one party (the licensor) grants another party (the licensee) the right to produce, use, sell, and/or display the licensor’s protected material.
Detailed explanation-3: -A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
Detailed explanation-4: -This contract is used when a company (Licensor) assigns or licenses to another (Licensee) registered industrial and intellectual property rights (patents, utility models, trademarks, copyright etc.) as well as technical assistance and know-how.
Detailed explanation-5: -An international licensing agreement allows foreign firms, either exclusively or non-exclusively, to manufacture a proprietor’s product for a fixed term in a specific market.