A legal agreement that allows a business to be operated using the name and business procedures of another firm is referred to as a

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A franchise agreement allows a business owner (franchisee) to use the name, products, and business procedures of an existing, established company (franchisor) in exchange for payment of fees, royalties, and adherence to specific operational guidelines. This relationship allows the franchisee to benefit from the reputation and success of the franchisor and reduces the risks involved in starting a new business from scratch.

A Legal Agreement That Allows a Business to Be Operated