Answers
The established company that grants another the right to trade under its name, for a fee.
A licence that allows a start-up to trade using a larger company's name and methods.
An ongoing payment made to a brand owner, normally calculated as a percentage of revenue earned.
A business owned and run by one person, who keeps all profits but is responsible for all losses.
A payment out of a company's profits to its shareholders, based on the number of shares they own.
A business owned by two or more people who share the profits, losses and overall responsibility.
Owners are only responsible for business debts up to the amount they have invested, protecting their personal assets.
A hybrid enterprise often used by professionals, in which members are not personally responsible for its debts.
Owners are personally responsible for all business debts with no upper limit, so personal assets are at risk.
An individual or business that pays to trade under someone else's brand name and systems.
A one-off charge paid by a new operator for the right to use a well-known brand.
A business legally separate from its owners, which can sell shares to family and friends to raise finance.