Question

Any arrangement in which the owner of a trademark, trade name, or copyright licenses another to use that trademark, trade name, or copyright, under specified conditions or limitations, in the selling of goods and services is called__________.

Answer 1

Answer:

The correct answer is: Franchise.

Explanation:

A Franchise is a company in which one party -the franchisee- gains access to the proprietary information, procedures, and trademarks of an established business -the franchisor. A franchise provides the opportunity to own a company while avoiding many of the initial challenges. The franchisee purchases the right to sell a product or service under an established brand name, the customer already knows the brand, so there is no need for additional resources to launch the products.