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Franchise: is an arrangement in which the owner of intellectual property such as trade mark, trade name, or copyright licenses others to use it in

Franchise: is an arrangement in which the owner of intellectual property such as trade mark, trade name, or copyright licenses others to use it in the selling of goods or services. is economically dependent on the franchisor's integrated business system.

Franchisee: (a purchaser of franchise) is generally legally independent of the franchisor.

Franchisor: the seller of the franchise .

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