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Angela, age 17, is injured in a car accident and receives $5,200 in medical treatment at the emergency room. The hospital sends a bill to Angela, who signed the admitting form in which she agreed to pay for the treatment. Angela:
Licensing
Licensing is the process whereby a company allows another entity to use its intellectual property, brand, or product for a specified period in exchange for fees or royalties.
Royalty
A payment made to the owner of certain property rights for the use of those rights by others, common in publishing and patenting.
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