Involves a _ involves a binding contractual agreement between a firm and another firm or individual whereby the business name and format have already been developed by the originating firm. Multiple Choice Exporting Franchising Joint venture Strategic alliancebinding contractual agreement between a firm and another firm or individual whereby the business name and format have already been developed by the originating firm.

Franchising

Explanation:

In Franchising, a company who already has a successfully established brand give other people with the ability to open new branch by using that brand.

Example for this would be McDonald. McDonald operate under a franchising system, in which a person who have enough capital to provide building can pay a certain amount money to McDonald in exchange for permission to use its brand.

In most franchising system, the Franchiser usually impose a strict regulation regarding the format of the business. They do this in order to maintain the reputation of the brand.

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