Business Law: 4 Franchises | Free OER Textbook + Study Guide

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Franchisor The business that owns the trademark and business model; grants the rights; collects the fee.

Franchisee The local owner who pays the fee, receives the license, runs the business, and keeps the income.

Franchise A grant of the sole right to engage in a business or use a trademark in a certain area; a form of contract between busin

Franchise Agreement The detailed contract governing the franchise relationship; controls vendors, layouts, ingredients, branding, and more.

Franchise Fee The payment made by the franchisee to the franchisor in exchange for the right to use the trademark and business model.

Joint Venture Two or more parties combining efforts for a single transaction or limited activity; automatically terminates at conclusi