In which type of agreement does a firm agrees to pay a firm for the right to either manufacture or sell a product?

Question

Quizplus · Accepted Answer

Licensing is the type of agreement in which a firm agrees to pay a firm for the right to either manufacture or sell a product. In this type of agreement, the licensor provides the technology, intellectual property, or trademark to the licensee in exchange for payment. The licensee is then able to produce or sell the product with the licensor's support and under the licensor's brand name.

In Which Type of Agreement Does a Firm Agrees to Pay