private franchise is any arrangement in which the owner of a
trademark, a trade name, or a copyright has licensed others to use it
in selling goods or services
A franchisor is the seller of the franchise
A franchisee, the purchaser or a fran
Agreement that involves legally
binding obligations between 2 or
Types of Contracts
Express Written or oral agreements where
the terms are explicitly written/stated.
Implied Agreement that is inferred by law.
Based on conduct of th
BANKRUPTCY and REORGANIZATION
(These are primarily federal laws)
provide relief and protection to
debtors who have gotten in over their
To provide a fair means of distributing
a debtors assets among all creditors.
Five Basic Types of Bankrup
ADVANTAGES AND DISADVANTAGES OF A BUSINESS STRUCTURE
Limited, same as
Unlimited for genera