List and Define the Components of an Internal Legal Memorandum

question 19

Essay

List and define the components of an internal legal memorandum.

Comprehend the implications of strategic commitments on the outcomes of strategic moves.

Analyze the effects of external changes on strategy and market equilibria.

Evaluate the role of communication and public announcements in strategic games.

Understand the application of game theory in competitive business strategies.

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Definitions:

Franchising

A method of doing business wherein a franchisor licenses trademarks and proven methods of doing business to a franchisee in exchange for a recurring payment, and often a percentage of the franchisee's revenue.

Franchisors

Individuals or companies that grant a license to others allowing them to operate a business under the franchisor's brand and business model.

Experience

The knowledge or skill acquired by a period of practical involvement in or exposure to events or activities.

Franchised Businesses

Companies that operate under the model where individuals (franchisees) are granted the rights by a franchisor to operate a business under the franchisor's brand and system in exchange for a fee.