A right that someone buys from a company to sell its goods or services, especially in a particular area. In its simplest terms, a franchise is a licence from an owner of a trademark or trade name permitting another to sell a product or service under that mark or name. More broadly stated, a franchise has evolved into an elaborate agreement under which the franchisee undertakes to conduct a business or sell a product or service in accordance with methods and procedures prescribed by the franchisor, and the franchisor undertakes to assist the franchisee through the advertising, promotion and other advisory services.

Otherwise known as a Non-Disclosure Agreement, is a legal contract between two or more parties that outlines confidential information, knowledge or material that the parties wish to share with each other for certain purposes, but which must not be disclosed to third parties.

A legal document, usually in writing, giving details of a formal legally binding agreement, between two or more different people or groups. To be legally binding it must contain certain elements: it must contain an offer made by one party and accepted in its entirety by the other, it must include some form of consideration whether it be money, goods or services, and it must be properly signed by all parties to it, and dated.

A contract in which all elements of a contract are specifically stated (offer, acceptance and consideration), and the terms are set out, as compared with an implied contract in which the existence of the contract is assumed by the circumstances.