Ask: When you buy a McDonald's or some other franchise, what exactly are you getting? (Answers include the brand name and its reputation, a business concept that has already proven successful, training, operating and accounting procedures, quality standards, possible incentive programs, a protected market territory into which no other franchisee from this company can do business.) Ask: When you buy a license to make a line of clothing (e.g., from Janet Jackson), what exactly are you getting? (You are buying the brand name and its reputation only.)