An agreement in which one firm gives another firm the right to produce and market its product in a specific country or region in return for royalties is called__________

Question

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A licensing agreement is an agreement in which one firm (licensor) gives another firm (licensee) the right to produce and market its product in a specific country or region in return for royalties. This allows the licensor to expand its product reach into new markets without having to invest in setting up production facilities or developing new marketing strategies.

An Agreement in Which One Firm Gives Another Firm the Right