Sales and Franchise
Licensing, in the business world, is a contractual agreement to use a brand name, patent or property that is owned by another business entity. For example, a greeting card company can obtain a license to use images of Hannah Montana or "The Simpsons" characters on greeting cards.
A franchise is a business that operates under an existing brand name. Many popular businesses are franchises, including McDonald's, Subway and H&R Block.
Franchising & Licensing - What are they? and how can you benefit from them?
(The document is also available in PDF format)
By Ian Cockburn1
Almost everyone is familiar with the term franchising, or has at least had some contact with the products or services offered by franchises. What is franchising? How does it work? And why, over the last 10 to 20 years, has franchising become the fastest growing way of doing business in just about every country in the world?
– And What makes a Good Franchise – “the Four I’s”.
This article endeavors to answer the questions posed above and provide the reader with a basic understanding of how franchising & licensing works. It will discuss the benefits given by a franchise, and some pitfalls to be aware of when looking for one. The article is written to offer an informative introduction on franchising & Licensing only – and to provide a useful background which will allow businesses to benefit from innovation.
If you wish to know more about Franchising & Licensing please seek the assistance of a Franchising/licensing consultant or IP professional – and always remember that contractual documents do not have to be written in ambiguous legalese. Like any contract it should be clear to both parties what is being asked for or given, the relevant dates for delivery, supply and payment, how long the agreement is to run for, whether there is a right of renewal, and importantly when the contract may be terminated and the reasons for such a termination.
A joint venture (JV) is a business
A franchise is a business that operates under an existing brand name. Many popular businesses are franchises, including McDonald's, Subway and H&R Block.
Franchising & Licensing - What are they? and how can you benefit from them?
(The document is also available in PDF format)
By Ian Cockburn1
Almost everyone is familiar with the term franchising, or has at least had some contact with the products or services offered by franchises. What is franchising? How does it work? And why, over the last 10 to 20 years, has franchising become the fastest growing way of doing business in just about every country in the world?
– And What makes a Good Franchise – “the Four I’s”.
This article endeavors to answer the questions posed above and provide the reader with a basic understanding of how franchising & licensing works. It will discuss the benefits given by a franchise, and some pitfalls to be aware of when looking for one. The article is written to offer an informative introduction on franchising & Licensing only – and to provide a useful background which will allow businesses to benefit from innovation.
If you wish to know more about Franchising & Licensing please seek the assistance of a Franchising/licensing consultant or IP professional – and always remember that contractual documents do not have to be written in ambiguous legalese. Like any contract it should be clear to both parties what is being asked for or given, the relevant dates for delivery, supply and payment, how long the agreement is to run for, whether there is a right of renewal, and importantly when the contract may be terminated and the reasons for such a termination.
A joint venture (JV) is a business