Through ________, a partner firm in the foreign market buys the right to use a company's manufacturing process, patent, or brand.

Question

Quizplus · Accepted Answer

Licensing is the process of granting a partner firm in a foreign market the right to use a company's manufacturing process, patent, or brand. This allows the partner firm to produce and sell products under the original company's name or technology in the foreign market. The original company receives payment for the right to use their intellectual property, but does not directly export or manufacture the products themselves.

Through ________, a Partner Firm in the Foreign Market Buys