Diners Corporation, a U. S. firm, signs a contract with Essen, A, G., a German firm, to give Essen the right to use Diners' trademark in restaurants in Germany. This is:

Complete Question:

Diners Corporation, a U.S. firm, signs a contract with Essen, A,G., a German firm, to give Essen the right to use Diners’ trademark in restaurants in Germany. This is?

Group of answer choices

a. a distribution agreement.

b. a joint venture.

c. direct exporting.

d. licensing.

D. Licensing.

Explanation:

Diners Corporation is a U.S. firm which signed a contract with Essen, A,G., a German firm, to give Essen the right to use Diners' trademark in restaurants in Germany. This is licensing.

Licensing can be defined as a strategic business approach, which involves a company giving permission (license) to another company so it has the right to produce or manufacture its products, usually for a specific amount of money.

Hence, the company being granted a license has the right to use the other company's patent, copyright, design and trademark in its productions.

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