Please Define the Following Key Terms

question 78

Short Answer

Please define the following key terms.
- Problem of Longitude

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Definitions:

Franchise

A license that allows the franchisee access to a business's proprietary knowledge, processes, and trademarks, enabling the franchisee to sell a product or service under the business's name.

Example

An instance or case used to illustrate or explain a rule or principle.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders; it has its own rights, privileges, and liabilities distinct from those of its members.

Advantages

The favorable aspects, benefits, or conditions that contribute to success or a more favorable position.