By taking into consideration the relationship of the parties to an agreement or how they are positioned in the markets, a classification has been developed between horizontal and vertical agreements. Horizontal agreements are those which are made by firms that are the same level of trade or industry, such as agreements between retailers or manufacturers or between wholesalers. Unlike horizontal agreements, vertical agreementsare concluded between the parties who are not at the same level of trade or industry such as agreements between the wholesaler and the retailer or between the licenser and the licensee or betweenthe manufacturer and the seller.

The correct answer is C.