The best and most correct answer among the choices provided by your question is the first choice or letter A. A business chartered by a state that legally operates as a separate entity from the owner(s) is called a franchise.
Franchising is a business relationship in which the franchisor (the owner of the business providing the product or service) assigns to independent people (the franchisees) the right to market and distribute the franchisor's goods or service, and to use the business name for a fixed period of time.
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