What Is the Term for a Contractual Agreement by Which

question 150

Multiple Choice

What is the term for a contractual agreement by which a domestic firm grants foreign marketers the right to distribute a firm's merchandise or use its trademark, patent, or process in a specified geographic area?

• A) subcontracting
• B) franchising
• C) reciprocal partnership
• D) foreign licensing

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Definitions:

Enforced

Implementation or execution of rules, regulations, or decisions in order to compel obedience or compliance.

Manifestation

The demonstration or display of the existence or presence of something.

Culture

The shared values, beliefs, norms, and practices that shape the environment and behavior of individuals within an organization or society.

Problem-solving Teams

Groups formed within an organization to address specific issues or challenges, using collective knowledge and expertise to find effective solutions.