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Licensing is an agreement to: a. Sell Private Label Merchandise to a Retailer b. Allow Licensors to design merchandise for manufacturers c. Avoid Markdowns d.

Licensing is an agreement to:

a.

Sell Private Label Merchandise to a Retailer

b.

Allow Licensors to design merchandise for manufacturers

c.

Avoid Markdowns

d.

the rightunder which 1party grants to another the right to use an intellectual property for a specific purpose in return for a fee.

e.

Charge a fee for store brand merchandise which bears the name of a retailer such as the GAP

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