ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Copyright
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Franchise
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Licence
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Patent
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Detailed explanation-1: -A franchise agreement gives you the power to access to the trademarked business logo, the products and all kinds of marketing expertise that a franchise can provide you. Franchise agreement legally gives you the permission to use a known trademarked business name and logo as part of business plan.
Detailed explanation-2: -A franchise agreement is a contract under which the franchisor grants the franchisee the right to operate a business, or offer, sell, or distribute goods or services identified or associated with the franchisor’s trademark.
Detailed explanation-3: -There are 4 basic types of franchise agreements: Single-unit, multi-unit, area development and master franchising. A single-unit franchise is the most common and is simply where a franchisor grants a franchisee rights to open and operate one single franchise unit.
Detailed explanation-4: -The franchise agreement is a legally binding contract. It sets out the rules of the franchising relationship that both the franchisor and franchisee have agreed to.
Detailed explanation-5: -Single-Unit Franchise Agreement. Area Development Agreement. Master Franchise Agreement. 07-Jun-2021