An Agreement Between the Owner of a Brand and Another

question 66

Multiple Choice

An agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product is brand ________.

• A)extension
• B)awareness
• C)licensing
• D)association

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Definitions:

Commission

A payment to a salesperson for achieving a sale, often calculated as a percentage of the sale price.

Commission Rate

The percentage or fixed amount of compensation paid to an agent or employee for facilitating or completing a sale or transaction.

Freight

The transportation of goods, cargo, or commodities by land, sea, or air.

Net Proceeds

The amount of money remaining after all deductions, like expenses and taxes, are subtracted from the gross proceeds.