Correct Answer: Franchise

Solution : The correct choice is the fourth option.

Explanation: A franchise is a legal and commercial relationship between the owner of a trademark, brand, or trade name and an individual or group that seeks to use that identification in a business. The franchise agreement allows the individual or group (franchisee) to market the company's goods or services in a specific territory. This involves a licencing arrangement where the franchisee benefits from the established brand, business model, and support provided by the franchisor.

The meanings of the other options are as follows:

• Branding refers to the process of creating and establishing a brand.
• Marketing is a broader term that encompasses various activities to promote and sell products.
• Monopoly refers to the exclusive control or possession of a supply or trade in a service, commodity, or market.

Therefore, the correct one-word substitute is franchise.