Which of the following statements is true about licensing?
A) It is one of the most complex ways to engage in international marketing.
B) The licensor gains entry into the new market at low risk.
C) The licensee has no access to proprietary information.
D) The licensee receives a fee or royalty.
E) The only benefit for a licensee is the production expertise it gains.
B
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An illusory promise is created when
a. The promise is conditional on any other event happening first. b. The promise is conditional on an event happening first that is outside the promissor's control. c. The promise is conditional on an event happening first that is totally within the promissor's control. d. The promise cannot be performed within 1 year of the contract date.
Use displayed (separate-line) expressions for _______________________
a. mundane equations b. irrelevant information c. lengthy equations d. familiar equations