What Is the Key Difference Between Licensing and Franchising

question 1

Multiple Choice

What is the key difference between licensing and franchising?

• A) Licensing involves the payment of a fee for the use of a firm's intellectual property, whereas franchising provides the right to undertake business in a specified manner in return for a royalty payment.
• B) Licensing involves the arrangements for manufacturing a firm's products, whereas franchising involves arrangements for marketing the products.
• C) Licensing involves a payment for the use of a firm's intellectual property, whereas franchising deals with the operating details of how the intellectual property is used by another company.
• D) Licensing involves arrangements for producing and marketing a brand, whereas franchising involves arrangements for distributing the brand.
• E) There is no real difference between licensing and franchising.

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Definitions:

Eyepieces

Optical elements of a microscope or telescope through which the viewer looks to magnify and examine an object.

High-Power Field

A term used in microscopy to refer to the viewing field at the highest magnification possible with the instrument being used.

Objective Magnifies

In an analytical or scientific context, this refers to how an objective lens on a microscope increases the apparent size of an object being observed.

Quality Assurance Program

A systematic approach to ensure that a product or service meets specified requirements and customer expectations through planned and systematic activities.