Mark owns a chain of hotels. Roby acquires a license that allows him to extend the chain under the supervision and control of Mark. This type of license is an example of a ________.
A) franchise
B) patent
C) copyright
D) patent pool

Question

Quizplus · Accepted Answer

A franchise is a type of business model in which an individual or a company is granted the right to use the trademark, brand, and operating model of an already established business in exchange for fees or royalties. This allows the franchisee to operate under the same brand name and receive guidance and support from the franchisor, while the franchisor expands their business without having to invest in new locations.

Mark Owns a Chain of Hotels