What is license and franchising?
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What is license and franchising?
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a permit or authoity to own or use something...
Franchising
arrangement where one party gives another party to use it's trademark or trade-name...
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For example, the group makes about £120m a year from licensing its brand to other companies. Some of those companies are publically concerned about the fact that damage to the brand as a whole, could impact their business, and that they have little power to prevent it. Virgin America, in its IPO prospectus, explains that:
“The ‘Virgin’ brand is not under our control, and negative publicity related to the Virgin brand name could materially adversely affect our business