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Free Riding versus Opportunism
Paul, Gillian Hadfield had a pretty good summary of the governance problem that Franchisors/Franchisees face. A distinctly different problem that Berle Means thesis for the firm.
Do you have the paper?
Michael Webster PhD LLB
Franchise News
Michael Webster, a franchisee attorney in Toronto, Ontario, publishes a website on business opportunities and franchises called "The BizOp News"