FRANCHISE
Definition franchise?
This is an arrangement in which the owner of a trademark,
Trade name, or copyright has licensed others, to use it in selling goods or
services.
Who is a franchisee?
This is the purchaser of a franchise.
Who is a franchisor
This is the person that buys a franchise.
Definition
of a franchise. The existence of a franchise is a matter of definition, pure
and simple. Courts will find that a transaction is a "franchise" if
three elements are present: (1) the grant or licensing of a right to use a
trademark or trade name; (2) the payment of a "franchise fee" for the
use of the mark or name; and (3) some variant of a community of interest,
marketing plan, control, or assistance.
Advantages of Franchise
1 Training and Guidance
2 Proven Track Record
3 Brand-name Appeal
4 Financial Assistance
— Examples
of Franchise outside Nigeria
Subway
EXAMPLE OF FRANCHISE IN NIGERIA
Tetrazzini
