Question

A _____________ is a company that has a proven business model and is willing to sell the rights to use the business model to others so that they can sell the same product or service within a given territory.

Answer 1

Answer: Franchise

Explanation: In simple words, a franchise refers to an arrangement under which one entity allows other entity to use its business models, procedures and intellectual properties etc, in return of any loyalty or other such benefit.

This is a common arrangement nowadays and is usually used by the organisations to operate their business globally.

Hence from the above we can conclude that the correct answer is franchise.