For a Cost, Huma Can Open Up a Jimmy John's

question 149

Short Answer

For a cost, Huma can open up a Jimmy John's store in her hometown of Detroit, Michigan. The parent company has agreed to let Huma use its company name. Additionally, the company will give her support for her operational and marketing efforts. What type of market entry strategy is this?
A)licensing
B)franchising
C)joint venture
D)direct ownership
E)contract manufacturing

• A)licensing
• B)franchising
• C)joint venture
• D)direct ownership
• E)contract manufacturing

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Definitions:

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to standardize and simplify the law across jurisdictions.

Renunciation

The formal rejection of a claim, right, or possession, usually involving a legal or official declaration.

Forbear

To refrain from enforcing a right or claim, or to abstain from doing something.

Unilateral Contract

A contract in which one party makes a promise in exchange for the other party's performance, rather than a promise in return.