Which term refers to a business that agrees to sell a branded product under license from another company?

The correct term for a business that agrees to sell a branded product under license from another company is "franchisee." A franchisee is an individual or company that obtains the rights to sell products or services of the franchisor's brand, which includes adhering to the franchisor’s established business model, standards, and operating procedures. This relationship allows franchisees to benefit from the established reputation and support of the franchisor while running their independent business.

The term "franchisor" refers to the original business that grants the license to franchisees, highlighting the other side of the franchising relationship but not fitting the description of the business selling the product. "Enterprises" is a more general term that refers to various business ventures and does not specifically indicate a licensing or franchise arrangement. "Goods" relates to products or merchandise rather than the business structure involved in franchising. This contextual understanding clarifies why "franchisee" is the most accurate choice for the situation described in the question.