Foot-O, a local footwear company, has made a payment to the German footwear giant Buirick GmbH to use the foreign company's excellent method of shoe making. Which of the following is this an example of?

Question

Quizplus · Accepted Answer

This is an example of a licensing agreement where Foot-O has made a payment to Buirick GmbH to use their method of shoe making. This allows Foot-O to use the foreign company's technology or process without having to establish a new production process themselves.

Foot-O, a Local Footwear Company, Has Made a Payment to the German