Big Deal! Marketing Company,a U.S.firm,signs a contract with Comercio Exterior,Ltd.,a Chilean firm,to give Comercio the right to use Big Deal!'s animation techniques and characters in product promotions.This is

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Licensing is the agreement in which a company grants another company the right to use its intellectual property, such as patents, copyrights, or trademarks, for a fee or royalty. In this case, Big Deal! Marketing Company is granting Comercio Exterior the right to use its animation techniques and characters in product promotions, which is an example of licensing.