It is a business system in which a company sells the right to operate a business using their established system or format. - Franchising., It is the one who sells the right to operate a business that has an established system. - Franchisor., It is the one who buys the right to operate a business using an established format. - Franchisee., It is the initial sum of money that the franchisee pays. - Franchisee fee., It is a name, sign, symbol or design that identifies a company's product - Brand., What are the functions of management? - Planning, organizing, directing and controlling., These are the periodic payments during the term of a contract. - Royalty payment., Defines the rights and the obligations of the franchisor and the franchisee. - Franchise agreement., Person who works on his own and is not part of the payroll of any company. - Freelance worker., It is to present the idea of a business to convince an investor. - Pitch., An investor who provides money to the entrepreneurs with business with a high potential in exchange for stock equity. - Venture capitalist., Department responsible for the physical creation of a product. - Production department., Person who owns a part of a company or a corporation. - Shareholder., Department responsible for recruitment of staff or employees. - Personnel department., A table or diagram that shows a company's structure graphically. - Organization chart., Department responsible for finding clients and making sales. - Sales department., Group of people chosen to establish policy for and control a company. - Board of directors., Type of business where you are self-employed and entirely responsible for all the aspects of the management of your business. - Sole trader., Type of company that can be formed by a minimum of two people (shareholder), and their responsibilities are limited. - Private limited company., There is always a "responsibility" between the franchisee and the franchisor when they establish a contract. - Liability.,

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