A Contractual Agreement Whereby One Company (Licensor) Allows Its Brand

question 215

Multiple Choice

A contractual agreement whereby one company (licensor) allows its brand name or trademark to be used with products or services offered by another company (licensee) for a royalty or fee is referred to as

• A) co-branding.
• B) generic branding.
• C) reseller licensing.
• D) mixed branding.
• E) brand licensing.

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Definitions:

State Statutes

Laws that are established and enforced by individual U.S. states, as opposed to federal laws.

Gambling Agreement

A contract or arrangement between parties to stake something of value, typically money, on the outcome of an event with an uncertain result, with the primary intent of winning additional money or material goods.

Exculpatory Clause

A clause in a contract that basically frees one party (usually the drafter of the agreement) from all liability arising out of performance of the contract; generally based on factors such as consumer ignorance or a great deal of unexplained fine print that serve to deprive the less powerful party of a meaningful choice.

Liability Release

a legal document where one party agrees not to hold another party liable for risk, damage, or loss.