___ is a form of international business through which a foreign company pays a fee for the rights to manufacture or sell another firm's products in a specified region.

A) A franchise
B) A joint venture
C) A strategic alliance
D) A licensing agreement
E) Outsourcing

A licensing agreement is an arrangement in which a firm owns the rights to certain technology or products and licenses these to another firm in exchange for a fee or royalty. The licensee is authorized to manufacture or sell the licensed products in a specific region, while the licensor retains ownership of the intellectual property. This allows the licensor to expand its business globally without incurring the costs of production and marketing, while the licensee gains access to established products and technology.