5) Answer the following questions: a) Explain the meaning of the terms 'licensing agreement' and 'royalty' associated wi

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5 Answer The Following Questions A Explain The Meaning Of The Terms Licensing Agreement And Royalty Associated Wi 1 (63.06 KiB) Viewed 6 times

5) Answer the following questions: a) Explain the meaning of the terms 'licensing agreement' and 'royalty' associated with a company manufacturing a product 'under license'. [2] b) You have developed expertise in the field of hydraulic pumps and want to strengthen your 'LinkedIn' page by describing the latest concept designs you are developing for your company. What considerations should you make before updating your profile with this information? [3] c) Your company has developed new software called 'DRIVER' to control a novel mechanical drive system. What IP should you consider to cover your new software? [3] d) What is the most appropriate IP cover for a new engine lubricant formulation and why? [1]