In a manufacturing industry,_____ refers to firm A's agreement to give firm B the rights to use A's proprietary technology (such as a patent) or trademark (such as a corporate logo) for a royalty fee paid to A by B.

Question

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Licensing refers to an agreement between two firms where one firm (licensor) gives the other firm (licensee) the rights to use its proprietary technology or trademark for a fee. This allows the licensee to use the technology or trademark without having to develop it independently. The licensor, in turn, receives a royalty fee from the licensee for the use of their intellectual property.

In a Manufacturing Industry,_____ Refers to Firm A's Agreement to Give