Granting a foreign company the right to manufacture your product or to use your firm's trademark in return for a fee is called:
A)A joint venture.
B)A foreign subsidiary.
C)Licensing.
D)Outsourcing.

Question

Quizplus · Accepted Answer

Licensing refers to granting permission to a foreign company to manufacture a product or to use a trademark in exchange for a fee. Joint venture relates to the setting up of a new business venture between two or more companies, outsourcing involves contracting out jobs or services to an external company, and a foreign subsidiary refers to a company fully owned by a parent company in a foreign country.

Granting a Foreign Company the Right to Manufacture Your Product