________ is a form of business ownership in which a firm that already has a successful product or service licenses its trademark and method of doing business to other businesses in exchange for an initial franchise fee and an ongoing royalty.
A) Licensing
B) Joint Venturing
C) Contracting
D) Franchising
E) Sub-Contracting

Question

Quizplus · Accepted Answer

Franchising is a form of business ownership in which a successful firm licenses its trademark and business methods to other businesses in exchange for a franchise fee and ongoing royalties. The franchisee operates independently but must adhere to certain rules and guidelines established by the franchiser.

________ Is a Form of Business Ownership in Which a Firm