![]() Although the multinational firm usually has no ownership interests, it often provides ongoing support and advice. The licenser is normally paid a royalty on each unit produced and sold. ![]() Under a licensing agreement, the multinational firm grants rights on its intangible property to a foreign company for a specified period of time. ![]() The possibility of licensing makes for a flatter world, because it creates a legal vehicle for taking a product or service delivered in one country and providing a nearly identical version of that product or service in another country. Licensing is defined as the granting of permission by the licenser to the licensee to use intellectual property rights, such as trademarks, patents, brand names, or technology, under defined conditions. Licensing is a business arrangement in which one company gives another company permission to manufacture its product for a specified payment. Licensing gives a licensee certain rights or resources to manufacture and/or market a certain product in a host country. explain the advantages and disadvantages of international licensing.After reading this section, students should be able to …
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