Luxere Hotels International,an American company,sells the rights to other hospitality companies globally to open hotels with the Luxere name for a fee and a share of the profit,in return for using Luxere's brand name and a package of materials and services.This defines ____.

Question

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Franchising is a form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company's brand name and a package of materials and services.

Luxere Hotels International,an American Company,sells the Rights to Other Hospitality