Purchasing the rights to make or sell another company's products is called __________.*

Question

Quizplus · Accepted Answer

Purchasing the rights to make or sell another company's products is called licensing. Insourcing refers to handling tasks within the company rather than outsourcing them. Outsourcing refers to hiring an external company to handle tasks. Franchising involves granting someone the right to open and operate a branch of your existing business in exchange for fees and royalties.

Purchasing the Rights to Make or Sell Another Company's Products