An arrangement in which the owner of a trademark licenses others, under specified conditions or limitations, to use the trademark in purveying goods or services is a(n): ______.
A) corporation.
B) limited partnership.
C) unincorporated association.
D) franchise.

Question

Quizplus · Accepted Answer

A franchise is an arrangement in which the owner of a trademark (franchisor) licenses others (franchisees) to use the trademark in purveying goods or services under specified conditions or limitations. The franchisee pays a fee to the franchisor for the right to use the trademark and usually must adhere to specific operating procedures and standards set by the franchisor.

An Arrangement in Which the Owner of a Trademark Licenses