A(n) ________ is an arrangement whereby someone with a 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

This is a clear definition of a franchise agreement, where the franchisor grants the franchisee the right to operate a business using their established brand, systems, and products/services in exchange for a fee or royalty payment. A conditional grant, trade contract, or extended ownership agreement do not accurately describe this type of arrangement.

A(n) ________ Is an Arrangement Whereby Someone with a Proven