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Accounting > Franchise
The following information is about Franchise.
Franchise Defined
Legal arrangement whereby the owner of a trade name, franchisor, contracts with a party that wants to use the name on a non-exclusive basis to sell goods or services, franchisee. Frequently, the franchise agreement grants strict supervisory powers to the franchisor over the franchisee which, nevertheless, is an independent business.
This definition is in context to Accounting. See more contextual defintions for Franchise.
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