As Defined in Chapter 17, a "Licence" Is

question 63

Multiple Choice

As defined in Chapter 17, a "licence" is

• A) always granted by a government official.
• B) always applies with respect to an interest in land.
• C) a right to inflict a financial loss upon another party.
• D) allows a person to act in a way that otherwise would be considered wrongful.
• E) an obligation to act reasonably.

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Definitions:

Licensing

The granting of permission by an authority or owner to use a certain piece of intellectual property, product, or service under agreed terms.

Franchise

A type of business agreement that allows one party (the franchisee) to use the branding, operational model, and products or services of another party (the franchisor).

Support Package

A compilation of resources, tools, or services provided to assist individuals, organizations, or systems in achieving specific goals or overcoming challenges.

Joint Ventures

Establish operations in a foreign country through joint ownership with local partners.