Granting another firm the right to manufacture your product or use your trademark for a fee is called licensing.

Name: Granting another firm the right to manufacture your product or use your trademark for a fee is called licensing.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. Licensing is a common business strategy in which a company allows another company to utilize its intellectual property, such as patents, designs, or trademarks, in exchange for a fee or royalty payment.

Granting Another Firm the Right to Manufacture Your Product or Use