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A contractual agreement between two companies in which one company gives the other company, in exchange for a lump sum and royalties, the right to operate a retail outlet using a name and format developed by the first company is referred to as ______. Multiple choice question. multi-level marketing licensing franchising retailing

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The contractual agreement described above which is a way of expanding a business venture, is referred to as franchising.

Franchising involves:

  • A company allowing another company to use its name and brand
  • The company gaining the license paying the original company royalties for the duration of the contract

In this scenario, a company is paying another company a lump sum and royalties and in exchange, they get to use the name and format of the original company.

This is synonymous with a franchise so we can conclude that this is franchising.

Find out more at https://brainly.com/question/3032789.

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