Asked by Stacy Folkes on Jun 14, 2024
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A franchise is a type of business in which a local firm pays a foreign firm a fee for the rights to make and/or sell the foreign firm's products.
Franchise
A business model where a franchisee obtains the rights to operate a business under the franchisor's brand and system in exchange for a fee.
Foreign Firm
A company that is based in one country but operates or has offices in other countries.
Local Firm
A business establishment that operates in a specific geographical area, typically offering products or services to a local market or community.
- Understand the concept and types of international business, including franchising, direct investment, and joint ventures.
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Learning Objectives
- Understand the concept and types of international business, including franchising, direct investment, and joint ventures.
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