Although it normally involves much longer-term commitments,franchising is essentially the service industry version of:

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Franchising is essentially the service-industry version of licensing,although it normally involves much longer-term commitments than licensing.With franchising,the firm licenses its brand name to a foreign firm in return for a percentage of the franchisee's profits.

Although It Normally Involves Much Longer-Term Commitments,franchising Is Essentially the Service