Question

Granting a foreign company the right to manufacture your product or to use your firm's trademark in return for a fee is called:______.

Answer 1

Granting a foreign company the right to manufacture your product or to use your firm's trademark in return for a fee is called: licensing.

A license is an official permission or license to do, use, or own something. A license is granted by one party to another by agreement between those parties. In the case of government-issued permits, permits are granted by the application.

A business agreement in which one company authorizes another to manufacture its products for a specified payment. There are several faster or more cost-effective ways to grow your business other than licensing your patents, trademarks, copyrights, designs, and other intellectual property to third parties.

Learn more about licensing here: brainly.com/question/26006107

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