In a franchise arrangement, one business enters into a contract with another to sell its products exclusively. Which of the following is true with respect to a franchise?
◦ An advantage of a franchise arrangement is the equal bargaining position of the parties.
◦ The franchisee and franchisor are in partnership together.
◦ Examples of franchises in Canada include Tim Hortons, KFC, and Budget Car Rental.
◦ The franchisor must comply with rules, standards, and specifications with respect to products and prices.
◦ The franchisee provides the technical expertise to manage the franchise.