Peak Inc.,a producer of energy drinks,signed an agreement that authorizes an Italian firm to use the designs,patents,and trademarks of Peak Inc.to market the product in Italy.What kind of agreement do the two firms have?

Question

Quizplus · Accepted Answer

The agreement described is a licensing agreement, which grants the Italian firm the right to use Peak Inc.'s designs, patents, and trademarks in exchange for some form of compensation, such as royalties. International contracting refers to the arrangement of business dealings between companies in different countries. Joint venturing refers to the formation of a new business entity by two or more parties. Joint contracting is not a commonly used term in business and does not apply to this scenario.

Peak Inc,a Producer of Energy Drinks,signed an Agreement That Authorizes an an Italian