True or False: The licensee is responsible for providing a combination of intellectual property and supporting products.

The statement that the licensee is responsible for providing a combination of intellectual property and supporting products is incorrect. In the context of licensing agreements, the role of the licensee is typically to use the intellectual property (IP) provided by the licensor, rather than to provide it. The licensor, as the owner of the intellectual property, is the one who grants rights to the licensee to use that IP under defined terms and conditions.

The role of the licensee is usually more focused on utilizing the intellectual property to create products or services, and while they may be involved in certain aspects of product development, the responsibility for the core intellectual property itself lies with the licensor. This distinction is crucial in understanding the dynamics of licensing agreements in international business, where the licensor benefits from expanding their market presence while the licensee typically benefits from access to established IP, reducing development risks and costs.