Business Studies

Where a firm allows another firm in a foreign market to use its technical know-how and trade mark, it is known as _________.


ANSWER

franchising


SOLUTION
  • Franchising is a term used in connection with the provision of services. McDonalds, for instance, operates fast food restaurants the world over through its franchising system.
  • Franchising is a “form of licensing in which a parent company (the franchiser) grants another independent entity (the franchisee) the right to do business in a prescribed manner. This right can take the form of selling the franchisers products, ‘using its name, production and marketing technique, or general business approach.” Donald W. Hackett
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