Briefly, Explain the Concept of Licensing in a Foreign Market

question 87

Essay

Briefly, explain the concept of licensing in a foreign market.In addition, cite the benefits and drawbacks of licensing.Be specific in your responses.

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Definitions:

Periodic Tenancy

A leasing agreement that continues for successive periods (such as month-to-month or year-to-year) until either the tenant or landlord gives notice to terminate.

Tenancy at Will

A rental agreement that either party can terminate at any time without cause, provided proper notice is given.

Implied Warranty

An unwritten and unexpressed guarantee that a product or service complies with the standard quality and performance expected.

Habitability

The suitability of a building for living in, ensuring that it is safe, healthy, and fit for habitation.