Theodore and james decide to enter into an agreement with a firm in europe allowing them to use the rights to their software, brand name, and software specifications in return for a lump sum payment. the firm is a service organization that plans to use the software to assist its customers. their agreement is a(n) a. export agreement b. import agreement c. licensing agreement d. franchise agreement

Franchise Agreement.

Explanation:

Franchise Agreement means a contract or an agreement, either expressed or implied, whether oral or written, between two or more persons by which:

- The franchisor grants to the franchisee the right to operate a business according to the franchise system as determined by the franchisor during a term to be determined by the franchisor.

- The franchisor grants to the franchisee the right to use a mark, or a trade secret, or any confidential information or intellectual property, owned by the franchisor or relating to the franchisor, and includes a situation where the franchisor, who is the registered user of, or is licensed by another person to use, any intellectual property, grants such right that he possesses to permit the franchisee to use the intellectual property.

- The franchisor possesses the right to administer continuous control during the franchise term over the franchisee’s business operation in according with the franchise system.

- The franchisor has the responsibility to provide assistance to the franchisee to operate his business including such assistance as the provision or supply of materials and services, training, marketing, and business or technical assistance.

the earnings of a typical investor is around $1,000,000 to $10,000,000

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