| A | B |
|---|
| Franchise | A contractual agreement between a parent company and a franchisee to distribute goods or services |
| Franchisee | One who buys the right to sell the goods or services of the parent company (franchisor) |
| Franchising | A method of distributing recognized goods and services through a legal agreement between two parties |
| Franchisor | A parent company and owner of the name and/or system that is being distributed through a contractual franchising arrangement |
| General partnership | A type of partnership agreement in which all partners are liable for a business’s losses; also known as ordinary partnership |
| Hybrid structure | A form of business ownership that combines elements of corporations and either sole proprietorships or partnerships |
| Joint venture | An arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short-term or for a single project/transaction |
| Licensee | The buyer of copyrighted, patented, or trademarked material |
