Please answer question 3 according to the guideline

QUESTION THREE [25] Franchises and licenses are both business agreements in which certain brand aspects are shared in exchange for a fee. They are also both modes that organisations may utilise if they wish to enter the global market. While franchising and licensing have some similarities, they are two very different agreements that mean different things for both you and your organisation. Evaluate the differences between franchising and licensing, delineating the pros and cons of each and providing specific contemporary examples to support your response. II Student to evaluate how franchising and licensing differ from each other and state the pros and cons of both franchising and licensing Student to utilise examples to support their responses Please provide detail with examples DO NOT list or use bulletsumbering Utilise paragraph format 5 of 6 Answer to not exceed 3 typed pages