Licensing Is Best Described As

question 68

Multiple Choice

Licensing is best described as: 

• A) a nonequity method of international business in which an entrepreneur contracts his or her management techniques and skills to a (foreign) purchasing company.
• B) a method of doing international business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners.
• C) a method that involves giving a foreign manufacturer the right to use a patent, technology, production process, or product in return for the payment of a royalty.
• D) an equity partnership that involves selling patents to foreign governments.

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Definitions:

Irrevocable

Something that cannot be changed, reversed, or taken back once it has been established or done.

Grantor

The individual or entity that establishes a trust, transfers property, or conveys rights to another person or entity.

Spendthrift Trust

A trust designed to provide financial support to a beneficiary while protecting the trust assets from the beneficiary's creditors or from being spent recklessly by the beneficiary.

Creditors

Individuals or entities to whom money is owed by a debtor or the company.