The correct answer is D. Licensing.
A licensing agreement is a legal contract between a licensor (the owner of intellectual property) and a licensee (the person or company that wants to use the intellectual property). The licensee pays the licensor a royalty, which is a percentage of the sales of the product or service that uses the intellectual property.
Mining is the extraction of valuable minerals or other geological materials from the earth, usually from an open-pit or underground mine. Patents are legal protections that give inventors the exclusive right to make, use, and sell their inventions for a limited period of time. Copyrights are legal protections that give creators of original works of authorship, such as books, music, and movies, the exclusive right to reproduce, distribute, perform, display, and create derivative works of their works.
In a licensing agreement, the licensor grants the licensee the right to use its intellectual property in a specific way, such as manufacturing and selling a product or service. The licensee pays the licensor a royalty, which is usually a percentage of the sales of the product or service that uses the intellectual property. The royalty rate is typically negotiated between the licensor and the licensee, and it may be based on factors such as the expected sales of the product or service, the value of the intellectual property, and the risk involved in the project.
Licensing agreements can be used to license a wide variety of intellectual property, including patents, trademarks, copyrights, and trade secrets. Licensing agreements can be a valuable tool for businesses that want to expand their reach and grow their business.