Question

A business that exists because of an arrangement between the owner of a trade name or trademark and a person who sells goods or services under the trade name or trademark is known as a(n) ________.

Answer 1

Franchise

Step-by-step explanation:

Franchising is an effective method to improve sales and brand image. It helps to enter the international market. Franchising is an agreement between the owner of a brand and an individual who has bought the rights to sells goods and services under the trade name or trademark. Many big brands such as McDonald and KFC are using this strategy to enter in different countries.