________ and ________ are similar approaches involving one organization giving another organization the right to use its brand name, technology, or product specifications in return for a lump sum payment or a fee usually based on sales.
A) Importing, exporting
B) Sourcing, procuring
C) Licensing, franchising
D) Globalizing, internationalizing
E) None of the answer choices is correct.

Question

Quizplus · Accepted Answer

Licensing and franchising both involve one organization granting another organization the right to use its brand name, technology, or product specifications. The main difference between the two is that in licensing, the licensee has more freedom to operate independently and create their own business model, while in franchising, the franchisee must operate according to the franchisor's established business model and processes. Both typically involve payment of a fee or royalty based on sales.

________ and ________ Are Similar Approaches Involving One Organization Giving

and Are Similar Approaches Involving One Organization Giving