Entrepreneurship and Small Business (ESB) Certification Practice Exam

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What must be obtained to use a brand name on products?

Trademark
License
Patent
Copyright

The correct answer is: License

To use a brand name on products, obtaining a license is essential when the brand name is already owned by another entity. A licensing agreement allows the licensee to utilize the brand name within certain agreed-upon parameters, while the licensor maintains ownership. This is common in various industries where brands are well-established, and companies wish to leverage a brand's reputation without claiming ownership. In contrast, a trademark is a form of protection that a brand owner secures to safeguard their brand name from being used without permission. While acquiring a trademark offers the owner exclusive rights to use the name or logo, it does not inherently grant permission to others unless those entities enter into a licensing agreement. A patent is specific to inventions and processes and does not pertain to the usage of brand names. Copyright protects original works of authorship, like literature and art, which are unrelated to brand name usage for products. Obtaining a license is a necessary step when leveraging an existing brand to ensure compliance with legal rights and obligations.