A business entity that allows others to operate a business using its name, trademark, business methods, and products in exchange for money and other considerations is called a franchisee.

Question

Quizplus · Accepted Answer

The definition given in the statement is describing a franchisor, not a franchisee. A franchisee is an individual or company that buys the rights to operate a business using the franchisor's name, trademark, business methods, and products.

A Business Entity That Allows Others to Operate a Business