________ is an arrangement whereby the manufacturer or sole distributor of a trademarked product or service gives exclusive rights of local distribution to independent retailers in return for their payment of royalties and conformance to standardized operating procedures.
A)A joint venture
B)Franchising
C)A merger
D)A leveraged buyout

Question

Quizplus · Accepted Answer

Franchising is an arrangement in which the manufacturer or sole distributor of a trademarked product or service gives exclusive rights of local distribution to independent retailers in return for their payment of royalties and conformance to standardized operating procedures. A joint venture involves the formation of a new entity by two or more companies, a merger is the combination of two or more companies into a single legal entity, and a leveraged buyout is a financial transaction in which a company is purchased with a significant amount of borrowed money.

________ Is an Arrangement Whereby the Manufacturer or Sole Distributor