James and Neal Have Been Trying to Resolve a Dispute

question 8

Multiple Choice

James and Neal have been trying to resolve a dispute over the right to use a certain character to represent Neal's business.They have talked directly with each other and through lawyers,but have not taken the dispute to court or involved a third party who is neutral to the situation.Neal and James are engaged in:

• A) mediation.
• B) negotiation.
• C) arbitration.
• D) litigation.
• E) It cannot be determined from the information given.

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Definitions:

Horizontal Brand Extension

A strategy where a brand introduces new products in the same product category.

Particle Board

An engineered wood product made from wood chips, sawmill shavings, or even sawdust, and a synthetic resin or other suitable binder, which is pressed and extruded.

Diversification Strategy

A growth strategy where a business enters into a new market or industry which it is not currently in, while also creating a new product for that new market.

Brand Recognition

Brand recognition is the extent to which consumers can correctly identify a brand through its visual indicators like logos, colors, packaging, or advertising, without the brand name being mentioned.