TYPE OF LICENSING
-Involves a firm granting another firm permission to use its proprietary names, characters, or logos for a specified period of time in exchange for a royalty.
-E.g., Coca Cola, Harley-Davidson, Laura Ashley, Disney, Michael Jordan
-A copyright gives the owner the exclusive right to reproduce art, music, literature, software, and other such works, as well as prepare derivative works, distribute copies, or perform or display the work publicly.
-Involves a contract in which the focal firm provides technological or management knowledge about how to design, manufacture, or deliver a product or a service.