Foreign Licensing Is ________

question 55

Multiple Choice

Foreign licensing is ________.

• A) required when a business buys and sells products in many countries, either in its own name or as an agent for its buyer-seller clients
• B) a government-owned or business-owned facility set up in a foreign country to buy products that are made there
• C) the use by one firm (the carrier) of its overseas distribution network to sell noncompetitive products made by other firms (riders)
• D) an agreement in which a licenser gives a licensee in another country the right to use that licenser's patent, trademark, copyright, technology, and products in return for a percentage of the licensee's sales or profits

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Definitions:

Preferential Treatment

The act of giving priority or advantage to a particular person or group over others, typically in an unfair manner.

Creditors

Individuals or institutions to whom money is owed.

Bankruptcy Relief

Legal relief obtained through a court proceeding that allows individuals or organizations to eliminate or reorganize their debts.

State Law

Legislation that is enacted by the legislative bodies within each of the states in the United States, as opposed to federal law.