Selling to a Foreign Organization the Rights to Use a Brand

question 39

Multiple Choice

Selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits is referred to as:

• A)Licensing
• B)Franchising
• C)Strategic alliance
• D)Joint venture
• E)Diversification

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Definitions:

Declaration of War

A formal announcement by a sovereign or government declaring a state of war between it and another state.

Reconstruction Amendments

Amendments to the United States Constitution adopted between 1865 and 1870, including the 13th, 14th, and 15th amendments, which abolished slavery, granted citizenship rights, and protected voting rights regardless of race, respectively.

Federal Government

The national government of a federation, which holds the authority to govern issues that affect the entire country, contrasted with state or local governments.

Individual Freedoms

The rights and liberties that can be claimed by individuals by virtue of being human; often include freedom of speech, religion, and the press.