A(n)___________ is an arrangement whereby someone with proven idea for a business sells the rights to use the business model,to sell a product or service to others in a given territory.
A)conditional grant
B)franchise agreement
C)trade contract
D)extended ownership agreement

Question

Quizplus · Accepted Answer

The arrangement described in the question is a franchise agreement. This is a common way for entrepreneurs to expand their business by selling the rights to use their business model to others in a given territory. The franchisee is generally required to follow strict guidelines and pay ongoing fees to the franchisor in exchange for the use of the brand name, training, and support.

A(n)___________ Is an Arrangement Whereby Someone with Proven Idea for a Business