General approaches to the definition of franchising

The article considers the economic essence of franchising, analyzes the definition of franchising, which are used in the scientific literature, defines the characteristics of franchising as a form of contractual relations. The article also discusses different approaches to franchising by the franchisor and franchisee. The authors identified problems that may arise for the parties to the transaction, considered the issues of reflecting the costs of the licensee, as well as the risks arising from the conclusion of a commercial concession agreement.