Tricon was the restaurant division of PepsiCo until it was spun off several years ago. Since then, Tricon, now called Yum Corp., which controls KFC and Taco Bell, has opened $6,000$ KFC restaurants abroad. It has $158$ in Indonesia and more than $500$ restaurants in China. Tricon owns all the property where the restaurants are built, but the buildings are locally owned, and the owners pay an advertising and product use fee to Tricon. Tricon is engaged in

Tricon was the restaurant division of PepsiCo until it was spun off several years ago. Since then, Tricon, now called Yum Corp., which controls KFC and Taco Bell, has opened $6,000$ KFC restaurants abroad. It has $158$ in Indonesia and more than $500$ restaurants in China. Tricon owns all the property where the restaurants are built, but the buildings are locally owned, and the owners pay an advertising and product use fee to Tricon. Tricon is engaged in

contract assembly

a joint venture

contract manufacturing

a partnership

franchising