Asked by Gabriella Gonzales on May 18, 2024
Verified
Haute Dogs Inc. sells a franchise to Ilene's Cuisine, a lunch truck. Ilene's Cuisine is
A) a franchisee.
B) a franchisor.
C) a partner.
D) a principal.
Franchisee
An individual or company that is granted the right by a franchisor to operate a business under the franchisor's trademark and business model.
Franchisor
The original or existing business that allows another party (franchisee) to use its trademark and business model.
Lunch Truck
A mobile vehicle equipped to prepare, cook, and sell food, often found at workplaces or public events.
- Comprehend the legal differences among various forms of business entities, such as individual ownerships, joint ventures, and licensing contracts.
Verified Answer
Learning Objectives
- Comprehend the legal differences among various forms of business entities, such as individual ownerships, joint ventures, and licensing contracts.
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