Under this type of agreement, one firm permits another firm to use its intellectual property in exchange for royalty compensation. This property might include patents, trademarks, copyrights, technology, technical know-how, or specific marketing skills. What is this type of agreement called?

Question

Quizplus · Accepted Answer

This type of agreement is called licensing, where one firm permits another firm to use its intellectual property in exchange for royalty compensation.

Under This Type of Agreement, One Firm Permits Another Firm