The payment of a fee to use another firm's name and operating methods is called __________.
A) licensing
B) franchising
C) importing
D) leasing

Question

Quizplus · Accepted Answer

Franchising involves paying a fee to use another firm's name and operating methods. Licensing refers to the granting of permission to use a particular product or service, importing refers to bringing goods or services from another country, and leasing involves renting a product or service for temporary use.

The Payment of a Fee to Use Another Firm's Name