When DuPont agrees to let a Brazilian company make its product Teflon, the nonstick coating, in its local market for a fee it is called franchising.

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In licensing, a company allows a foreign company to pay it a fee to make or distribute the first company's product or service.For example, the DuPont chemical company might license a company in Brazil to make Teflon, the nonstick substance that is found on some frying pans.

When DuPont Agrees to Let a Brazilian Company Make Its