Final answer:
A company offering rights to its intellectual property for a fee is engaged in a licensing arrangement, benefiting from royalties while promoting innovation. The correct option is B.
Step-by-step explanation:
When a company offers the right to a trademark, patent, trade secret, or other intellectual property in return for a royalty or a fee, it is known as a licensing arrangement. This allows the company holding the rights to the intellectual property to profit by charging others for the use of their protected idea, concept, or image without having to sell or transfer ownership. This system facilitates the spread of technology and creativity while still rewarding the original innovators, leading to further innovation and development.
When a company offers the right to a trademark, patent, trade secret, or other intellectual property in return for a royalty or a fee, it is known as a licensing arrangement. Licensing allows the company that owns the intellectual property to grant someone else the right to use, produce, or sell it, while still retaining ownership. This arrangement is common in industries where companies want to expand their reach without fully entering new markets or investing in new production facilities.