An owner's license of a formula to make a certain product to an outside party is a franchise.

Name: An owner's license of a formula to make a certain product to an outside party is a franchise.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement accurately defines what a franchise is - it is an agreement in which an owner licenses their formula, brand name, and operating system to another party, allowing them to run a business using those elements.

An Owner's License of a Formula to Make a Certain