8.4+Questions

1. A franchise is a semi independent company that pays fees to a parent company in return for the rights to sell the parent companies product. 2. Royalties are the fees that the franchise owner must pay to the parent company. 3. A cooperative is a business organization owned and operated by a group of individuals for their shared benefit. 4. All cooperatives provide and make different things. 5. Organizations in the business of benefiting society. 6. Professional organizations work to improve the image of people. Business Associations promote business interests of a city. Trade associations are non profits that promote the interests of industries.