Asked by Nahin Muntasir on May 10, 2024
Verified
A franchise agreement refers to collaborative relationships between independent firms that do not invest in one another.
Franchise Agreement
A legal contract between a franchisor and a franchisee, detailing the terms under which the franchisee operates a segment of the franchisor's business.
Independent Firms
Businesses that operate autonomously, not owned by or affiliated with larger corporations, often characterized by unique cultures and personalized services.
- Discern the qualities and methods required for entry into foreign markets.
Verified Answer
AO
Alberto OrnelasMay 13, 2024
Final Answer :
False
Explanation :
A franchise agreement is a legal, binding contract between a franchisor and franchisee, where the franchisor allows the franchisee to use its trademark, trade name, and business model in exchange for a fee, rather than a collaboration between independent firms with no investment in one another.
Learning Objectives
- Discern the qualities and methods required for entry into foreign markets.
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