When one company is hired to design,construct,and test a production facility for a client,the arrangement is called a ________.
A)turnkey project
B)licensing agreement
C)joint venture
D)franchising agreement

Question

Quizplus · Accepted Answer

A turnkey project is when a company is hired to design, construct, and test a production facility for a client, providing a complete solution that is ready to use upon completion. Licensing agreements involve the use of a company's intellectual property in exchange for royalties or fees. Joint ventures involve two or more companies forming a partnership to undertake a specific project or business activity. Franchising agreements involve a company granting a third party the right to use its brand name and business model in exchange for fees and royalties.

When One Company Is Hired to Design,construct,and Test a Production