________ Is a Form of Business Ownership in Which a Firm

question 62

Multiple Choice

________ is a form of business ownership in which a firm that already has a successful product or service licenses its trademark and method of doing business to other business in exchange for an initial franchise fee and an ongoing royalty.

• A) Licensing
• B) Joint Venturing
• C) Contracting
• D) Subcontracting
• E) Franchising

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Definitions:

Strict Negligence

A standard of legal liability that may apply even in the absence of intent to cause harm, focusing on the violation of a duty to act with care.

Expert Testimony

Evidence provided in court by a qualified specialist or professional about matters within their field of expertise.

College Degree

An academic degree awarded by colleges or universities to recognize the completion of a specific course of study.

Basement Lab

A laboratory or workspace situated in the basement of a building, typically used for experiments, research, or creative projects.