A business arrangement where one party licenses another party to use its trade name,trademarks,commercial symbols,patents,copyrights,and other property in the distribution and selling of goods and services is known as a:

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This is the definition of a franchise, where one party (the franchisor) grants permission to another party (the franchisee) to use its intellectual property and business model in exchange for fees and royalties. A joint venture is a business arrangement where two or more parties come together to undertake a specific project or business venture. A proprietorship is a type of business where there is only one owner who is personally liable for the debts and obligations of the business. A partnership is a business relationship where two or more people share ownership and the profits and losses of the business. A limited liability company is a hybrid business structure that offers the limited liability protection of a corporation with the tax benefits and simplicity of a partnership.

A Business Arrangement Where One Party Licenses Another Party to Use