Must have an agreement with factors : ~Captial introduced by each partner ~Profit percentage for each partner ~Division of responsibilities ~Nature of business

Must follow Partnership act of 1890

Owners are called "Shareholders"

Private Limited Business

Public Limited Business

During the project the 2 organisations share ~CAPITAL ~RISK ~PROFIT

Its an Expansion. They expand throught the franchisee. Franchisee should pay a royalty fee for the franchisor

Franchisor - owner of brand who grants consent to use brandname through an agreement.

Franchisee - the individual / business who purchases the brand name

Company operates in more than one country,

Those who are involved in selling goods for the purpose of re-selling

Those who sell goods to end consumer wants

Insurance - An agreement that provides financial protection and reimbursement against any losses incurred by the organization Insurer - The company that provides insurance Insured - The business entity/ individual covered by the insurance