Rolling River Golf Equipment Corp. has been trying to develop a lightweight putter for years but hasn't come up with the best technology. After learning that Griggson Group had what Rolling River needed, Rolling River bought the right to use the technology in its putters. What process is helping the company develop its new putters?
A)licensing
B)R&D consortia
C)brainstorming
D)franchising
E)outsourcing

Question

Quizplus · Accepted Answer

Licensing is the process of acquiring the rights to use a product or technology owned by another company. In this scenario, Rolling River Golf Equipment Corp. bought the right to use the technology owned by Griggson Group, which is a form of licensing.