Asked by Ramanan Srinivasagopalan on May 18, 2024
Verified
Because a franchise can involve the license of a trademark, a trade name, or a copyright, the law governing intellectual property may apply in some situations.
Franchise
A business model where the brand and business system of a franchisor is licensed to a franchisee in exchange for fees or royalties.
Intellectual Property
Creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.
Trademark
A sign, term, or expression that has been legally recognized or accepted through usage, symbolizing a corporation or a product.
- Become versed in the legal requirements, rights, and obligations relevant to franchising.
- Understand the importance of intellectual property law within the context of franchising.
Verified Answer
May 21, 2024
Learning Objectives
- Become versed in the legal requirements, rights, and obligations relevant to franchising.
- Understand the importance of intellectual property law within the context of franchising.
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