Licensing Is a Process in Which a Firm Wanting to Enter

question 25

Multiple Choice

Licensing is a process in which a firm wanting to enter a market must

• A) require all potential customers to obtain government permission to purchase the product.
• B) notify the government within a certain period after it has entered the market.
• C) pay all overdue taxes before entering the market.
• D) obtain permission from the government to enter the market.

---

Definitions:

Implementation Phase

The stage in a project or strategic plan where strategies and plans are put into action to achieve the desired outcomes.

Test Assumptions

The process of validating the hypotheses or beliefs that underlie a project, business plan, or experiment to ensure they are accurate.

Viable Opportunities

Prospects or possibilities that have a realistic chance of success or profitability.

Inspiration

The process of being mentally stimulated to do or feel something, especially to do something creative.