In a manufacturing setting,the purchase of the right to use another firm's proprietary technology is referred to as:
A) Direct exporting
B) Licensing
C) Franchising
D) Exporting

Question

Quizplus · Accepted Answer

The purchase of the right to use another firm's proprietary technology is referred to as licensing. Direct exporting refers to a company selling its products directly to customers in another country, while franchising involves a company granting the right to use its business model and brand to another party. Exporting simply refers to the act of sending goods or services to another country.

In a Manufacturing Setting,the Purchase of the Right to Use