1.
Sarah runs a bakery by herself, makes all decisions, and reports income as personal earnings. What type of business does she own?
2.
John operates a small consulting firm. If he is sued for business debts and his personal assets are at risk, what is this an example of?
3.
Mike opens a Jolibee restaurant using its branding, menu, and business model. What type of business arrangement is this?
4.
McDonald's Corporation grants business owners the right to operate a restaurant under its brand. In this relationship, what role does McDonald's play?
5.
Who is the person or entity purchasing the right to operate a business under a franchise agreement?
6.
A __________ is a symbol, word, or phrase legally registered to represent a company or product.
7.
Coca-Cola keeps its formula confidential and only a few employees know it. What type of intellectual property protection does this demonstrate?
8.
What legally binding agreement outlines the rights and obligations between two parties?
9.
The Franchise Rule requires full __________ of all material facts before signing a franchise agreement.
10.
Paying a percentage of our profits to government each year is called?
11.
A restaurant needs a food service permit before opening. What legal requirement does this represent?
12.
A __________ is borrowed money that must be repaid with interest, often used to start a business.
14.
A nightclub is denied opening because the area is designated for residential use. What legal restriction is affecting them?
15.
What is the process of legally ending a franchise agreement?
16.
Zuellig Pharma is given exclusive rights to sell Pfizer's drug in Vietnam but does not follow Pfizer’s branding or business model. What type of franchise is this?
17.
Paying an extra upfront cost means?
18.
Unable to pay its debts occurs what financial state?
