Using Examples,explain in Detail How Franchising Works

question 8

Essay

Using examples,explain in detail how franchising works.How is franchising different from licensing?

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Definitions:

Corporate Form

A legal entity status that allows a group to operate as a single entity recognized by law, typically providing limited liability to its owners.

Corporate Liability

The legal and financial responsibilities a corporation faces for its actions or failures to act, potentially including civil liabilities or criminal penalties.

Tort

A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.

Crime

An action or omission that constitutes an offense and is punishable by law.