Under a _____ agreement,one firm permits another to use its intellectual property in exchange for royalty.

Question

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Licensing is the agreement between two companies in which one company allows another to use its intellectual property (such as patents, trademarks, or copyrights) for a fee or royalty. This allows the licensee to use the licensor's intellectual property without having to develop it themselves, while the licensor earns income from their intellectual property without having to manufacture or market the product themselves.

Under a _____ Agreement,one Firm Permits Another to Use Its