Kim's GymJam Inc., based in Australia, obtained the right to produce and sell a U.S.-based company's boxing gloves. Kim's GymJam has to pay a royalty fee to the U.S. company for every pair of gloves it sells. In this example, Kim's GymJam Inc is the

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Kim's GymJam Inc. is the licensee because it has obtained the rights from the U.S.-based company (the licensor) to produce and sell the boxing gloves, and it pays a royalty fee for these rights.