A franchise exists when the owner of a trademark licenses its use to an?other party to sell goods or services.

Question

Quizplus · Accepted Answer

This is the definition of a franchise. The owner of the trademark is known as the franchisor, and the party licensed to use the trademark is known as the franchisee. The franchisee is usually provided with support, training, and marketing materials by the franchisor, in exchange for a fee or royalty.

A Franchise Exists When the Owner of a Trademark Licenses