Which of the Following Best Describes a Franchise

Which of the following best describes a franchise?

A) two parties work together on a limited-duration project or enterprise
B) a business establishes numerous retail locations, owned by the business, that all offer similar products or services
C) a retailer pays a fee to operate a business using a particular name under a standardized general business plan, with the fee often being paid in the form of royalties
D) a seller of products is in business long enough for its trade name to become widely-recognized
E) a business obtains the right from another business to operate with limited liability