________ 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 business in exchange for an initial franchise fee and an ongoing royalty.

Question

Quizplus · Accepted Answer

The description given in the question matches the definition of franchising, which involves the licensing of a successful business model to other businesses for a fee and royalties. The other options, such as licensing, joint venturing, contracting, and subcontracting, do not necessarily involve the transfer of a business model and are not the best fit for the scenario described in the question.

________ Is a Form of Business Ownership in Which a Firm