【答案解析】{{B}}{{I}}Model passage:{{/B}}{{/I}} Good morning. Ladies and gentlemen, as you can see from the conference programme, I'm going to be talking about franchising agreements. I'd like to begin by looking at franchising as a legal concept. Then I'll move on to franchising contracts with particular reference to royalty payments and start-up capital. If you have any questions, please feel free to interrupt, and I'll be happy to answer them as we go along. 提示: franchise 特许经销权。interrupt 打断，打扰。royalty