Theodore and James Decide to Enter into an Agreement with a Firm

question 2

Multiple Choice

Theodore and James decide to enter into an agreement with a firm in Europe allowing them to use their software, brand name, and business methods in return for a lump sum payment and a percentage of sales. The European firm is a service organization that plans to use the software to serve its customers. Their agreement is a(n) ________.

• A) export agreement
• B) licensing agreement
• C) franchise agreement
• D) import agreement

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Definitions:

Management by Objectives

A management strategy where employees and managers set specific, measurable objectives that contribute towards organizational goals.

Survey Feedback

A method of organizational development that involves collecting data through questionnaires and sharing the results with participants for action planning.

Survey Feedback

A process of collecting data from respondents to gather information and insights, followed by the provision of feedback based on the results.

Survey Responses

The answers or feedback provided by participants in a survey, which are analyzed to draw conclusions or insights.