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Britney is a scientist who produces medicine for joint pain. Britney sells a license to Kevin granting him the right to use the formula for
Britney is a scientist who produces medicine for joint pain. Britney sells a license to Kevin granting him the right to use the formula for Britney's patented medicine, Pain-be-Gone. Kevin can use the formula to produce and distribute the medicine for three years. Britney does not have any obligation to update the formula for future medical breakthroughs. When should Britney recognize revenue on this contract? Evenly over the three years At the end of the three years It depends on whether a medical breakthrough occurs At the beginning of the three years
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