The Tim Hortons chain accounts for more than half of all the donut and coffee stores in Canada. The chain's red-and-white store banners are fixtures in many Canadian communities. In 2001, the first Tim Hortons appeared in the United States through a contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business. This agreement is an example of a(n)________.

Question

Quizplus · Accepted Answer

The contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business is an example of a franchise, where a company grants the right to use its trademark, products, and processes to another party in exchange for a fee or royalty.

The Tim Hortons Chain Accounts for More Than Half of All