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WAEC Marketing 2017 Question 1

Question 1

International Marketing

A method of engaging in international marketing by which a company gives another the right to use its patent and trademark for a fee is

  1. A.consortium.
  2. B.importing.
  3. C.licensing.
  4. D.exporting.
Show the answer and explanation

Answer: C (licensing.)

Explanation

In licensing a firm lets a foreign company use its patent, trademark or know-how in return for a fee (royalty).