Question

Instead of setting up a business to market her own products, Rita considers entering into a distributorship franchise with Sports Equipment Corporation. This involves the transfer of
a. a license.
b. a trade name.
c. the formula to make a certain product.
d. the ownership of the business.

Answer 1

Instead of setting up a business to market her own products, Rita considers entering into a distributorship franchise with Sports Equipment Corporation. This involves the transfer of a license. (Option A)

What is meant by license transfer?

Any sale, lease, sublease, rental, hypothecation, conveyance, assignment, or similar transaction in which a financial or ownership interest in a license issued under the terms of this chapter, or in a communications system for which a license has been issued under those terms, is transferred is referred to as a license transfer.

What does franchise licensing entail?

In essence, licensing is when you enable someone else to sell your items, whereas franchising is when you allow someone to replicate your firm in another location. You will be paid a fee in both licensing and franchising from the person who replicates your business or sells your goods.

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