Question

A brand licensing agreement provides: Group of answer choices

a. The contractual right to broker a brand.
b. The contractual right to use another firm's brand in a stipulated way.
c. A limited right to issue a new brand. Trade secrets.
d. None of these answers is correct.

Answer 1

The correct answer is letter "B": The contractual right to use another firm's brand in a stipulated way.

Step-by-step explanation:

Brand licensing refers to an agreement between a licensee and a company by which access to property rights is provided under certain parameters stipulated in a contract. The region of operations, time of the license, and exclusivity of using the brand are specified. In exchange, the licensor receives a fee, royalty, for granting access to its property.