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What Makes a Franchise a Partnership?

Explain how a franchise could be considered a partnership. What makes a franchise agreement simpler than a partnership that you would start with another individual?

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A franchise is a type of business organization that is usually owned and operated by an individual who has an agreement with the franchisor (Vitez, 2013). This is a contractual agreement and relationship between those two parties. A partnership usually includes two or more individuals who are responsible for managing and operating a business (Vitez, 2013). Partnerships can also use legal agreements, ...

Solution Summary

A discussion regarding franchises and partnership and how they are simliar and different from each other, including how one may be simpler than the other in specific situations. 197 words, 1 reference.