Franchising is a specialized form of licensing in which the franchiser sells the franchisee intangible property (normally a trademark) and insists that the franchisee agree to abide by strict rules about how it does business.

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Franchising is indeed a specialized form of licensing in which the franchiser (owner of the brand) allows the franchisee (business operator) to use its trademark, and enforces strict rules to maintain consistency in the way business is conducted under the brand name.

Franchising Is a Specialized Form of Licensing in Which the Franchiser