Walt Disney permits a German clothing manufacturer to market children's pajamas embroidered with Mickey Mouse in return for a percentage of company sales. This is an example of ________.

Question

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This is an example of licensing, where Walt Disney, the licensor, allows the German clothing manufacturer, the licensee, to use its intellectual property (Mickey Mouse) in exchange for a percentage of the sales. Licensing agreements permit the use of intellectual property for certain purposes while the licensor retains ownership.

Walt Disney Permits a German Clothing Manufacturer to Market Children's