To celebrate the end of the semester, South Carolina students decide to take a class trip to Disney World. To make sure everyone stays together, they decide to create matching t-shirts with Mickey and the gang on the front. The Walt Disney Company owns the merchandising rights to all of the characters, but they create an agreement to allow the students to wear the logo. What role does Walt Disney Company play in this exchange? Licensee Franchisor Licensor Franchisee