Question

A person who buys the right to use a business name and sell a product within a given territory is called a

Select one:
a. stockholder
b. franchisee
c. limited partner
d. venture capitalist

Answer 1

A person who purchases the right to use a business name and sell a product within a specific area is known as a franchisee; they pay initial and ongoing fees in exchange for support from the franchisor.

Step-by-step explanation:

A person who buys the right to use a business name and sell a product within a given territory is called a franchisee. A franchise allows an individual to start a business based on a model designed by the franchisor, which provides various forms of support such as training and supply chain assistance. In exchange for these benefits, the franchisee pays an initial franchise fee, along with ongoing royalty fees based on sales or revenues.