Franchising Terms




  • Franchising

"A marketing system revolving around a two-party legal agreement, whereby the franchisee conducts business according to the terms specified by the franchisor"


  • Franchise contract

"The legal agreement between franchisor and franchisee"

  • Franchisee

"An entrepreneur whose power is limited by a contractual agreement with a franchisor"

  • Franchise

"The privileges conveyed in the franchise contract"

  • Franchisor

"The party in the franchise contract that specifies the methods to be followed and the terms to be met by the other party"

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