GK
INTERNATIONAL ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a company is planning to sell the rights to its brand name for use in other countries.
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joint venture
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trade agreement
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franchise
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licensing agreement
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Explanation:
Detailed explanation-1: -Licensing is a business arrangement in which one company gives another company permission to manufacture its product for a specified payment. Licensing generally involves allowing another company to use patents, trademarks, copyrights, designs, and other intellectual in exchange for a percentage of revenue or a fee.
Detailed explanation-2: -How can a company use licensing agreements to enter world markets? By licensing, a company can negotiate an agreement that entitles it to produce or market another company’s product in return for a royalty or fee.
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