An agent who takes possession of goods and sells in his own name is known as?

An agent who takes possession of goods and sells them in his own name is known as a factor. A factor is a type of agent who acts on behalf of a seller, taking possession of goods and selling them on to buyers in their own name, rather than simply acting as an intermediary between the buyer and seller. Factors are often used in the textile and clothing industries, where they purchase goods from manufacturers and sell them on to retailers, taking a commission on the sale. Factors may also provide financing to their clients, advancing them cash against the value of their accounts receivable or inventory. The factor's role is to facilitate the sale of goods and to manage the associated risks, such as credit risk and inventory risk. Factors are typically paid a commission based on the value of the goods sold, and may also earn interest or fees for financing services provided to their clients.