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Business School of Vocational Studies , Novi Sad , Serbia
Vojvodjanska banka , Novi Sad , Serbia
The title of this contract comes from the English word franchise, which means a special right or privilege. It is believed to have originated in the Middle Ages, when they received a royal privilege notable personality. The first manifestations of this agreement have been developed in the U.S. in the late 19th century in the production of oil and its derivatives, and later in other areas of industrial production, as well as the hospitality and tourism. Much later franchise agreement appeared in most European countries. In our business practices and franchising agreements appeared quite long ago, but its importance has come to the fore in recent decades when our companies emerge as the recipient of franchising in the automotive and consumer industries, as well as the hospitality and tourism. In recent years, it seems that our attempt to become economic entities franchiser in foreign trade and especially the countries that have gone through intensive development, such as some countries of Africa and Asia.
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