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(Figure: Principal-Agent Game III) What is the likely outcome of this game?
Franchisor
A franchisor is a business that grants licenses to franchisees for the operation of a business under the franchisor's brand and system.
Franchise
A type of business relationship where a franchisor allows a franchisee to use its trademark, products, and business model in exchange for a fee.
Sole Proprietorship
A business structure where a single individual both owns and operates the business, and is responsible for all its debts and liabilities.
Concession Sales
The activity of selling food, beverages, or merchandise at sports, entertainment venues, or other events.
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