_____ refers to the granting of permission by one party to another party to use intellectual property rights, such as trademarks, patents, brand names, or technology, under defined conditions without providing any other service or product.
A)Joint venture
B)Licensing
C)Leasing
D)Acquisition
E)Franchising

Question

Quizplus · Accepted Answer

Licensing is the correct term for the scenario described, where permission is granted by one party to another to use intellectual property rights under specific conditions, without the transfer of ownership or the provision of any service or product.

_____ Refers to the Granting of Permission by One Party