Theodore and James decide to enter into an agreement with a firm in Europe allowing them to use the rights to their software, brand name, and software specifications in return for a lump sum payment. The firm is a service organization that plans to use the software to assist its customers. Their agreement is a(n) ________.
A) export agreement
B) licensing agreement
C) franchise agreement
D) import agreement
Correct Answer:
Verified
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A)
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