Franchise or Licensing ageement?

[GHVan]

Currently, I have an internet business which has been doing very well so far. I have been approached by a very interested group out of state who currently wants to use my backend technology and have the territorial rights.
However, I'm not sure whether I should take the route of a franchise model or a territorial licensing agreement?
Also, I'm wondering if there would be a possibility if someone would have a example of a Licensing agreement that is catered to a technology company that I could reference of off.
I really appreciate the feedback!!

GHVan

 

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[EastWind]

I think the licensing agreement will be cheaper. Set it up, where you get paid every month, and you get paid on the amount of service you provide to them. So instead of giving them say access to your database/application code, etc. You expose the application to them via the internet, and their own code can make remote calls to the system you setup. This way, they are dependent for life on you.