Theodore and James Decide to Enter into an Agreement with a Firm

question 2

Multiple Choice

Theodore and James decide to enter into an agreement with a firm in Europe allowing them to use their software, brand name, and business methods in return for a lump sum payment and a percentage of sales. The European firm is a service organization that plans to use the software to serve its customers. Their agreement is a(n) ________.

• A) export agreement
• B) licensing agreement
• C) franchise agreement
• D) import agreement

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Definitions:

Negative Attitudes

Persistent feelings of dislike or pessimism towards a person, object, or situation.

Training Sessions

Organized periods of time during which individuals are taught skills or knowledge relevant to specific goals or occupations.

Support Services

Assistance programs or organizations that provide help and support in various forms, such as counseling, financial aid, or technical support.

Company Expense

A financial cost incurred in the course of business operations.