| A | B |
|---|
| Advertising fees | fees paid to a franchise company to support television |
| Board of directors | group of people who meet several times a year to make important decisions affecting the company |
| Contract | legally binding agreement between two or more persons or parties |
| Copyright | form of intellectual property law that protects original works of authorship |
| Corporation | business that has the legal rights of a person but is independent of its owners |
| Dividends | distributions of corporate profits to the shareholders |
| Franchise | legal agreement that gives an individual the right to market a company’s products or services in a particular area |
| Franchise Disclosure Document | a regulatory document describing a franchise opportunity that prospective franchisees must receive before they sign a contract |
| Initial franchise fee | amount the local franchise owner pays in return for the right to run the franchise |
| Intellectual property | the original creative work of an artist or inventor, including such things as songs, novels, artistic designs, and inventions |
| Partnership | business owned by two or more people |
| Patent | the grant of a property right to an inventor to exclude others from making |
| Royalty fees | weekly or monthly payments made by the local owner to the franchise company; these payments usually are a percentage of a franchise’s income |
| Share of stock | unit of ownership in a corporation |
| Sole proprietorship | business that is owned exclusively by one person; enables one person to be in control of all aspects of the business |
| Startup costs | costs associated with beginning a business |
| Trademark | name, symbol, or special mark used to identify a business or brand of product |
