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62 Cards in this Set
- Front
- Back
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agency theory
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A management concept that arugues that for organizations with multiple units, it is more oeffective for the units to be runby franchisees than by managers who run company-owned stores.
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area franchise agreement
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agreement that allows a franchisee to own and operate a specific number or outlets in a particular geographic region
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business format franchise
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by far the most popular approach to franchising in which the franchisor provides a formula for doing business to the franchisee along with training, advertising, and other.
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fiduciary obligation
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the obligation to always act in another's best interest. it is a mistake to assue that a franchisor has fiduciary obligation to its franchisees.
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franchise agreement
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the document that consummates the sale of a franchise, which typically contains two sections. Purchase agreement & franchise or license agreement.
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franchisees
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a firm that enters into a franchising agreemen and pays an initial fee and an ongoing royalty in order to license another firms successful prduct or service.
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franchising
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a form or business organization in which a firm that already has a successful product or service, lisences its trademark and methodof doing business to other businesses in exchange for fee
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franchisor
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a firm with a successful product or service that enters into a franchising agreement to license
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individual franchise agreement
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the most common type of franchise agreement, which involves the sale of a single franchise for a specifc location
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master franchise agreement
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similar to an area franchise
agreement, but in addition to having the right to operate the franchise also has to option to offer and sell the franchise to other people in the area. |
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multiple-unit franchisee
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a individual who owns and operates more than one outlet of the same franchisor whether through an area or master franchise agreement
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product and trademark franchise
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an arrangement under which the franchisor grants to the franchisee the right to buy its product and use its trade name
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subfranchisees
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the people who buy franchises from master franchisees
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uniform franchisor offering circular
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UFCO: accepted in all 50 states, a legnthe document that contains 23 categories of inormation giving a prospective franchise a broad base of information giving a prospectve franchise a broad base of information about the background and financial health.
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assignment of invention agreement
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A document signed by an employee as part of the employment agreement that assigns the employer the right to apply for the patent of an invention mabe by an employee during the course of employment.
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business method patent
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A patent that protects an invention that is or facilitates a method of doing business
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certification marks
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Marks, words, names, symbols, or devices used by a person other than its owner to certify a particular quality about a product or service
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collective marks
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Trademarks or service marks used by the members of a corporative, association, or other collective group, including marks indicating membership in a union or similar organization
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Computer Software Copyright Act
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In 1980, Congress passed this act which amended previous copyright acts; now all forms of computer programs protected
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copyright
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a form of intellectual property protection that grants to the owner of a wok of authorship the legal right to determine how the work is used and to obtain economic benefits of the work
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copyright bug
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a letter c inside a ircle with the first year of publication an the author copyright owner
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copyright infringement
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Violation of another's copyright that occurs when one work drives from another work or is an exact copy or shows substantial similarity to the original copyright.
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derivative works
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Works that are new renditions of something that is already copyrighted, which are also copyrightable.
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design patents
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the second most common typer of patent covering the invention of new, original, and ornamental desgins for manufactured produts.
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Economic Espionage Act
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Passed in 1996 an act that makes theft of trade secrets a crime.
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fair use
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the limited use of copyright material for purposes such as criticism, comment, news reporting, teaching, or scholarship.
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first-to-invent rule
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states that first person to invent an item or process is given preference over another person who is first to file a patent app.
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idea-expression dichotomy
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The legal principle describing the concept that althogh an idea is not to be copyrighted, the spcific expression of an idea as is.
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intellectual property
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any product of human intellect, imagination, creativity, or inventivness that is intangible but has value in the marketplace and can be protected hrough tools such as patents, trademarks, copyrights, and trade secrets.
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intellectual property audit
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A firms assessment of the intellectul property it owns
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intent-to-use trademark application
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An app. based pn the applicant's intention to register and use a trademark
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interference
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An administrative procceeding if this is a disptue regardig who was first t invent a product; presided over by a judge at the US Patent & Trademark Office
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invention logbook
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Documentation of the dates and activities related to the development of a particualr invention
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Lanham Act
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A trademark law passed 1946 that protects words, numbers adn letters, designs and logos, sounds, fragrances, shapes, colors and trade dress
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one year after first use deadline
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A patent must be appled for within one year of when prodcut or servies was first offered for sale so if it was forgotten about a patent attorney would have to put together a filing in a short period of time to meet this deadline
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patent
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A grant from the denderal governemtn conferring the rights to exclude others from makinging, selling, or using an invention for the term of the patent.
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patent infringement
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This is when one party engaes in the unauthorized use of anothers patent
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plant patents
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patents that protect new varieties of plants that can be reproduced asexually by grafting or crossbreeding rather than by planting them
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provisional patent application
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A part of patent law that grants "provisional rights" to an inventor for up to one year, pending the filing of a complete and final application
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secondary meaning
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this arises when over time consumers start to identify a trademark with a specifc product.
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service marks
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similar to ordinary trademarks but used to identify the services or intangiable activities of a business rather than a business's physical product
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trademark
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any work, name, symbol, or device used to identify the sources or origin of products or servies and to distingush those products from others
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trade secret
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any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the maretplace.
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Uniform Trade Secrets Act
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Drfted in 1979 by a special commission in an attempt to set nationwide standards for trade secret legislation; although he njority of states have adopted the act; most revised it; resulting in a wide disparity among states in regard to trade secret legislation and enforcement.
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adverse selcetion
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The challenge a firm must face as it grows such that as the number or employees a firm needs increases, it becomes more difficult to find the right employees, place them in appropriate positions, and provide adequet supervision
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bench marking
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The idea that a firm can imporve the quality of an activity by identifying and copying the methods of other firms that have been successful in that area
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business growth planning
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the process of setting growth-related goals and objectives and then mapping oua palc to achieve those goals.
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commitment to growth
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the extent to which a firm's owners and managers have made a deliberte choice to pursue growth
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economics of scale
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a phenomenon that occurs when mass producing a product results in lower average cost.
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entrepreneurial services
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those serives that generate new market, product, and serivce ideas
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fixed cost
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the cots that a company incures in operating a business wheter is sells something or not.
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growth-oriented vision
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a plan that helps a firm crystalize the imprtnve of growth for its stakeholders and ensures that its major decisions are made iwht growth in mind
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managerial capcity problem
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the probelm that arises when the growth of a firm is limited by the managerial capacity that a firm has available to implement new business ideas.
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managerial serivces
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The routine functions of the firm that facilitate the profitable exceution of new properties
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market leader ship
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the position of a firm when it is the number-one of the number-two firm in an industry or niche market in terms of sales volume
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moral hazard
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a problem a firm faces as it grows and adds personel; the assumption is that new hires will nt have the same ownership incentives or be as motivated to work as hard as the founders
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pace of growth
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the rate at which a firm is growing on an annual basis
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productive opportunity set
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the set of opportunities the firm feels it is capable of pursuing
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rapid-growth firm
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a firm that maintains a growth rate of at least 20% per year for five consecutive years.
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scalable business model
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a business model in which increased revenues cost less to deliver that current revenuse, so profit margins increase as sales go up
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sustained growth
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growth in both revenues and profits ower an extended period of time
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variable cost
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the cost that are not fixed that a company incures as it generates sales.
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