Theodore and James decide to enter into an agreement with a firm in Europe allowing them to use the rights to their software, brand name, and software specifications in return for a lump sum payment.
The firm is a service organization that plans to use the software to assist its customers. Their agreement is a(n) ________.
A) export agreement
B) licensing agreement
C) franchise agreement
D) import agreement
Question 2
Melanie would like to become a part of the global retail community. Which of the following options should Melanie consider as her first step?
A) She should engage in global sourcing.
B) She should engage in licensing.
C) She should engage in franchising.
D) She should develop strategic alliances with foreign companies.
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