Answer: licensing agreement
Explanation: In certain instances or scenarios such as the scenario being described above, two companies or parties may reach a legal agreement on the authorized usage of a company's brand, produce and market goods, use copyright or patented materials or services belonging to one of the contracting parties whereby the other party(patentee) whose brand is being used is paid a sum of money for the authorization granted to the other company usually called the Royalty fee.
Answer:
The answer is licensing agreement. Therefore,
In the British Isles, Guinness brewery was given the right to produce and market Budweiser beer by Anheuser-Busch, its U.S. brand owner. Because Guinness pays Anheuser-Busch royalties for the use of its brand, this is an example of a licensing agreement.
Refer below for the exanation.
Explanation:
As the above case, licensing agreement is a contract where the licensor permits licensee to produce and sell products as per the contract.
