Intrepid Creations is a product design institute which provides educational courses in package design. It manages to acquire the right to use simulation software from Marco Software for a payment of $2,000 a year. There is no clause of expiration on this arrangement and the right to access the software is renewed annually. Which of the following kinds of business arrangements does the aforementioned scenario indicate?

Question

Quizplus · Accepted Answer

The scenario involves Intrepid Creations obtaining the right to use simulation software from Marco Software for a payment, which is a typical licensing arrangement.

Intrepid Creations Is a Product Design Institute Which Provides Educational