The conversation between human and AI assistant.
What is franchising?
How is franchising different from licensing?
That's a great question! While both franchising and licensing involve granting permission to use a company's intellectual property, such as its brand or technology, the main difference is in the level of control the parent company has over the operations. In a franchise, the franchisor has more control over the franchisee's business, providing training, support, and a set of rules and guidelines to follow. In a license, the licensee has more freedom to operate the business as they see fit, but may not receive as much support or guidance from the licensor.