Which of the following mandatorily requires a license to be operational and legal?

Question

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A franchise is a business arrangement where one party (the franchisor) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, usually for a fee. Franchising is heavily regulated, and franchisors are required to provide franchisees with a franchise disclosure document (FDD) before they enter into any agreement. In addition, many states and local jurisdictions require franchisors to register their FDDs before they can sell franchises in the state. Thus, a franchise mandatorily requires a license to be operational and legal.

Which of the Following Mandatorily Requires a License to Be