Legal Dictionary & Glossary

It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content.

FRANCHISE

is a business method where independent owners buy and operate someone else’s well known business under license agreement to distribute goods or services. A franchisee must continue his business according to the established standards and practices of the franchisor. A franchisee pays the proprietary owner an initial fee and royalties for use of the company’s method of business. Most commonly known franchises include McDonalds, Gymboree, Baskin-Robbins Ice Cream, Blockbuster Video, Diary Queen, Jenny Craig Weight Loss, KFC.

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