A franchise is any arrangement in

which the owner of a trademark,

trade name or copyright has

licensed others to use it in selling

goods or services.

FRANCHISEE: A franchisee or

purchaser of a franchise is legally

independent but economically

dependent on the integrated

business system of the franchisor.

The franchisor is seller of

the franchise.

Leonard J. KonopaJournal of Marketing , Vol. 27, No. 2 (Apr., 1963), pp. 35-37Published by: American Marketing AssociationArticle Stable URL: http://www.jstor.org/stable/1248369

Leonard J. (1963) describes a franchise as a process which involves a manufacturing firm’s selection of a specific or limited amount of retail outlets to distribute their products in a specific manner.