franchise

A type of licence emerged in the 20th century, in which producers, wholesalers or other service provider organisations allow the independent undertakings or retail stores to have the right to sell their own products or services under the franchisor’s name, by using its trademark. In exchange for fee the franchisor gives the franchisee commercial, financial or any other type of advices.

Bauer András, Berács József & Kenesei Zsófia (2007). Marketing alapismeretek. Aula Kiadó. Budapest. pp. 242–244.