What term refers to contractual agreement by which a domestic firm grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area?
A) subcontracting
B) franchising
C) reciprocal partnership
D) foreign licensing

Question

Quizplus · Accepted Answer

Foreign licensing is a business arrangement in which the licensor (domestic firm) allows a licensee (foreign marketer) to use its intellectual property, such as trademarks, patents, or processes, in a specific geographic area under agreed terms and conditions.

What Term Refers to Contractual Agreement by Which a Domestic