30 Mergers and Joint Ventures

Question 1

Define brand recognition

Answer 1

how people identify a brand by its features and attributes

Question 2

Define copyright

Answer 2

a legal right that grants the creator of an orinigal work the sole right to determine and decide whether and under what conditions this original work may be used by others

Question 3

Define franchise

Answer 3

a business model in which a business, franchisor, allows another operator, franchisee, to trade under their name

Question 4

Define global mergers

Answer 4

where two or more businesses from different countries to join together and operate as one

Question 5

Define intellectual property

Answer 5

a product that is a creation of the mind, that the law protects from unauthorised use by others

Question 6

Define joint ventures

Answer 6

where two or more businesses co-operate to share the costs and profits from a business venture

Question 7

Define licensing

Answer 7

a contract with another firm to use its intellectual property or to produce its product or service in return for a fee

Question 8

Define pricing power

Answer 8

the effect that a change in a firms product price has on the quantity demanded of that product