Change in the Market Is Always Occurring

question 56

True/False

Change in the market is always occurring.

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Definitions:

Franchise Agreement

The legal contract that binds both parties involved in the franchise.

Product-Distribution Franchise

A product-distribution franchise is a franchising arrangement whereby the franchisee is granted the right to sell the franchisor's branded products.

Business-Format Franchise

A franchise model where the franchisor provides the franchisee with a complete system for operating a business, including brand, operational procedures, marketing, and support.

Proven Product

A good or service that has been tested and confirmed to meet certain standards of quality or demand in the market.