Question

In what manner may intangible property rights, such as patents, copyrights, trademarks, or manufacturing processes be transferred in exchange for royalties in a foreign country?

Multiple Choice

by joint venture

by a licensing contract

by a foreign subsidiary

by a bill of lading by expropriation

Answer 1

Answer: by a licensing contract

Rationale: The definition of licensing is when one party(the licensor) grants another party (the licensee) the right to use their intellectual property or license for a royalty fee. The time in the agreement between them is specified in the contract and a fee is paid by the licensee, in addition to the royalties.

In a joint venture, an enterprise is formed by two companies or parties who come together where they share everything from profits, loss, and control. This business activity doesn't necessarily require the transfer of Intellectual property rights between the two parties.

A foreign subsidiary doesn't involve the transfer of intellectual property but is defined by the ownership of the company that is either partial or whole by another organization overseas.

The bill of lading is a document or receipt that is not used for the transfer of intellectual property but is used while exporting goods by the carrier. The carrier depends on the mode of transport used and the bill of lading is issued by them to the shipment company.