____ is a contractual arrangement in which a firm in one country allows the use of its intellectual property by a firm in a second country in return for a royalty payment.
A) Leasing
B) Franchising
C) Licensing
D) Merchandising
Answer: C
____ is a contractual arrangement in which a firm in one country allows the use of its intellectual property by a firm in a second country in return for a royalty payment.
A) Leasing
B) Franchising
C) Licensing
D) Merchandising
Answer: C