Which of the following best describes a franchise? Question 4 options:

A retailer pays a fee to operate a business using a particular name under a standardized general business plan, with the fee often being paid in the form of royalties.

Two parties work together on a limited duration project or enterprise.

A seller of products is in business long enough for its trade name to become widely recognized.

A business sets up numerous retail locations owned by this business that all have similar products or services.