An agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product is brand ________.

Question

05-12-2019
Business

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An agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product is brand ________.

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jaquelinefvr jaquelinefvr · Answer 1 · 2019-12-09T21:01:07+01:00

Answer:

Licensing.

Explanation:

Brand licensing occurs when there is an agreement between companies to use a brand and its characteristics such as name, logo and image, upon payment of royalts for the use.

It is a strategy that occurs on a large scale worldwide due to the ease of use and the added benefits of using a consolidated brand in the market, which already has an established public, and added value, which generates an economic strengthening in companies that use this strategy. as well as increased reliability and profitability.