________ agreements entitle one company to use some or all of another firm's intellectual property in exchange for a royalty payment
A) Joint venture
B) Exporting
C) Franchising
D) Licensing
E) Strategic alliance
Answer: D
Explanation: Licensing is a popular approach to international business. License agreements entitle one company to use some or all of another firm's intellectual property (patents, trademarks, brand names, copyrights, or trade secrets) in return for a royalty payment.
Business
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