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Explain the Difference Between Franchising Licensing and Joint Venture

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Licensing is an agreement between licensor and licensee wherein one organization gives the other organization access to its patents trade secrets or technology for a fee known as royalty. When an independent entity is formed by two or more other entities the business venture is known as a joint venture. Autonomous Partnership Relationship Contractual And Equity Joint Ventures Download Scientific Diagram The first and foremost difference between licensing and franchising are that the former is mainly associated with the production and marketing of goods while the latter is related to the service business. . Hence licensing and exporting form two very important concepts for International marketing and management students. Licensing refers to an arrangement between licensor and licensee where the latter party would acquire the right to use products and goods where the ownership remains with the licensor. When you want to go into business fran...
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