Describe what licensing is. What type of intellectual property ...

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Describe what licensing is. What type of intellectual property can be licensed? Identify the two types of licensing pursued by entrepreneurial firms.
 
  What will be an ideal response?

Question 2

Approximately 50 percent of the 9,000 banks in the United States participate in the SBA Guaranteed Loan Program.
 
  Indicate whether the statement is true or false

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Answer to Question 1

Licensing is the granting of permission by one company to another company to use a specific form of its intellectual property under clearly defined conditions. Virtually any intellectual property a company owns that is protected by a patent, trademark or copyright can be licensed to a third party. There are two principle types of licensing. Technology licensing is the licensing of proprietary technology that the licensor typically controls by virtue of a utility patent. Merchandise and character licensing is the licensing of a recognized trademark or brand that the licensor typically controls through a registered trademark or copyright.

Answer to Question 2

TRUE

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TYSM

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