Licensing Is a Popular Strategy Because

question 193

Multiple Choice

Licensing is a popular strategy because

• A) it boosts domestic market revenues.
• B) the licensee has incentive to work hard and succeed because he/she has borne the cost.
• C) licensees spend little or no money to produce and market their products.
• D) there are seldom any long-term contractual requirements.

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Definitions:

Arbitration

A form of alternative dispute resolution where a neutral third-party makes a binding decision to resolve a dispute, avoiding court litigation.

Binding

Describes an agreement, contract, or legal decision that must be adhered to by the parties involved.

Appealed

To apply to a higher court for a reversal of the decision of a lower court.

International Arbitration

A process used to resolve disputes between parties from different countries outside the courts, using agreed upon arbitrators.