A brand licensing agreement provides: Group of answer choices a. The contractual right to broker a brand. b. The contractual right to use another firm's brand in a stipulated way. c. A limited right to issue a new brand. Trade secrets. d. None of these answers is correct.
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The correct answer is: b. The contractual right to use another firm's brand in a stipulated way.
A brand licensing agreement grants permission to another party to use a firm's brand name, trademarks, or other intellectual property for specific purposes, often within specific parameters or limitations set by the brand owner. This agreement allows the licensee to leverage the brand's reputation, recognition, and image while maintaining control over its usage and ensuring it aligns with the brand's standards and guidelines.