GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a licensed property, trademark or concept to another entity by a business owner
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the money a country owes another country
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Gross Domestic Product; total market value of all goods and services which are produced within a country during a given period
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also called buying power; the value of money measured by the quality and quantity of products and services the money can by
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a risk related to the influence of a defect in the documentation on cash flow or dept service
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Detailed explanation-1: -A franchise is a business where an individual or an entity known as the franchisee owns a business under the trademark, brand, and business model owned by another entity known as the franchisor.
Detailed explanation-2: -Licensing is governed by a licensing agreement, which involves a one-time transfer of property or rights for a fee. The licensor provides no technical support or assistance in most cases. Franchising is governed by an elaborate agreement specifying the responsibilities and duties of both the parties involved.
Detailed explanation-3: -A franchisee is a business owner who is licensed to operate a branded outlet of a retail chain. The franchisee pays a fee to the franchisor for the right to sell its established products and use its trademarks and proprietary knowledge. The franchisee receives guidance and support from the franchisor.
Detailed explanation-4: -A relationship wherein the franchisor grants the right to use its trademark and buy its products to the franchisee. This approach connects a single manufacturer with multiple. franchisees. For example, Lehar Pepsi, General Motors.