An arrangement in which the firm allows another the right to use an entire business system in exchange for fees, royalties, or other forms of compensation is known as ________.

Question

Quizplus · Accepted Answer

Franchising is a business model where the franchisor allows the franchisee to use its business system, brand, and ongoing support in exchange for fees or royalties. This enables the franchisee to operate a business under the franchisor's established brand and business model.

An Arrangement in Which the Firm Allows Another the Right