A(n) _____ refers to the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product
a. retailer
b. franchisor
c. consumer
d. investor
ANSWER: b
A franchisor is the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product. A franchisee pays the franchisor for the right to use its name, product, and business methods, and takes advantage of the franchisor's brand equity and operational expertise.
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