Franchisors may restrict the goods and services you sell. For example, if you own a restaurant franchise, you may not be able to make any changes to your menu. If you own an automobile transmission repair franchise, you may not be able to perform other types of automotive work, like brake or electrical system repairs.
Amortization is an accounting term that refers to the process of allocating the cost of an intangible asset over a period of time. It also refers to the repayment of loan principal over time.
Amortization Law and Legal Definition. Amortization may refer to a plan to repay a loan in equal installments over a period of time, whereby each periodic payment includes principal and interest, and the amount of the payment applied to the principal gradually increases over time as the interest payments are reduced.