The basic unit of payment based on sales by a licensee, to a licensor is:

	a.	Agent's fee
	b.	Marketing fee.
	c.	Guaranteed minimum.
	d.	Recoupable advance
	e.	Royalty

When a successful brand launches a new brand by category, product, price point or customer/retailer base, this is known as:

	a.	Co-branding.
	b.	Line extension
	c.	Cross licensing
	d.	Brand equity
	e.	Brand Extension.

The ownerof a license or logo is the:

	a.	Agent.
	b.	Licensee.
	c.	Consultant
	d.	Licensor
	e.	Buyer.

A savvy licensor monitors the licensee for which of the following?

	a.	Inappropriate distribution.
	b.	Quality problems.
	c.	Styling inconsistent with the with property image
	d.	Pricing.
	e.	All of the above.

A licensor monitors payments by arranging to:

	a.	See product in the stores
	b.	Audit the company's books.
	c.	Deduct royalties from advance payment
	d.	Approve all designs.
	e.	None of the above