Which viability factor involves the potential funding of a business opportunity Which viability factor involves building relationships with experienced professionals Which viability factor can help an entrepreneur make up for a lack of skills? The business opportunity that obtains licenses to use a brand name is the creator of a product franchise A franchise is a type of business in which the owner of a brand, known as the franchisor, grants a license to someone else, known as the franchisee, to operate a business using their brand name, trademarks, and other proprietary knowledge. The basics when a business opportunity obtains licenses to use a brand name, it’s entering into an agreement with the brand owner that allows it to use the brand’s name, logo, and other trademarks in exchange for a fee
This can be a great way for a business to get started quickly and easily, as it doesn’t have to spend time and money developing its own brand Here's what you need to know about licensing your brand, including opportunities and risks, key components of a licensing agreement, and best practices to follow What does it mean to license your brand When you license your brand, you are giving another company permission to use your intellectual property on products they produce and sell. Involves using a brand’s logo or characters on merchandise like apparel, accessories, and toys Allows the licensee to use the brand’s business model and trademark to operate a similar business.
