Reasons for global mergers or joint ventures - chapter 74 (key terms)

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4 Terms

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Franchising

Establishing a long-term co-operative relationship whereby one party, the franchisor, contracts with another, the franchisee, to run its business. McDonalds is a well-known example

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intellectual property

A product that is a creation of the mind, such as an invention, literary work or artwork, that the law protects from unauthorised use by others. Types include patents, copyrights and trademarks

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Licensing

A contract with another firm to use its intellectual property or to produce its product or service in return for a fee

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