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Distinguish between licensing and franchising.

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(i) Licensing is an agreement between licensor and licensee whereas franchising is an agreement between franchisee and franchiser. 

(ii) Licensing means permitting other party in a foreign country to produce and sell goods under trademark, patents whereas franchising means sell or distribute the branded products in a specific geographical area, e.g., through its franchising system Me Donald’s operates fast food restaurants in the whole world.

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