franchise
Definition
A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee.
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Related Terms
royalty
'franchise
' appears in the definitions of these terms on BusinessDictionary.comuniform franchise offering circular (UFOC), chain-style business, franchising, product franchising, protected territory, and
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