A system based on the licensing of the right to duplicate a successful business format in foreign markets is known as

TORAN LAL VERMA
  1. Partnering
  2. Licensing
  3. Franchising
  4. Contract manufacturing
3. Franchising

Franchising is a form of marketing and distribution in which the owner of a business system (the franchisor) grants to an individual or group of individuals (the franchisee) the right to run a business selling a product or providing a service using the franchisor’s business system. Franchisees are also given permission to use the franchisor’s branding, trademarks, and identifying marks under specified guidelines. https://www.franchisedirect.com/what-is-franchising-definition/

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