Question

RJR Nabisco (a U.S. company) allows a company in Singapore to use its brand name and recipes to produce and sell one of its products - Planters Nuts. In return, RJR Nabisco receives a royalty fee. This type of international arrangement is called ______.

Answer 1

RJR Nabisco allows a company in Singapore to use its brand name and recipes to produce and sell one of its products - Planters Nuts. This type of international arrangement is called licensing.

What is licensing?

Generally, licensing is simply defined as granting someone formal authorization to do, have, or sell something: In many nations, licensing is used to determine who should sell what.

In conclusion, a license shows the authenticity of a producer.

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