Question

Technology transfer agreements: Select one: a. protect "distinctive" or "famous" marks from unauthorized uses only when confusion is likely to occur. b. permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment. c. prevent an intellectual property owner from granting to another the right to use protected technology in return for some form of compensation. d. assert that priority of trademark rights in the United States depends upon the priority of use anywhere else in the world.

Answer 1

Answer:

b. permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment.

Explanation:

Technology transfer agreements can be defined as a contractual agreement between two parties, the licensor (rightful owner of the patent or trademark) and lincesee, granting them the legal rights to use an intellectual property under the stated terms and conditions binding the contract.

An intellectual property is an embodiment of the creative work such as trademark, patent or copyright of an individual, usually an inventor.

Technology transfer agreements allows an intellectual property owner to license or grant to another the right to use its protected technology in return for some form of compensation and permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment because this will further enhance foreign direct investments, expansion and deeply foster world trade among countries.