What is the legal process whereby a firm agrees to let another firm use its manufacturing process,trademarks,patents,trade secrets,or other proprietary knowledge in return for a fee or royalty?
A)a joint venture
B)divestment
C)licensing
D)a principal-agent agreement

Question

Quizplus · Accepted Answer

The legal process described is called licensing, where a firm rents out the right to use its manufacturing process, trademarks, patents, or other proprietary knowledge to another firm for a fee or royalty.

What Is the Legal Process Whereby a Firm Agrees to Let