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Chain properties are like a chain of food shops, for example. There are three ownership models.

1. Corporate ownership, where each store in the chain is owned by the corporation

2. Franchise ownership, where the stores are owned by individual or corporate owners other than the central corporation. They pay the central corporation franchise fees and services fees for the right to operate under the corporate name.

3. Mixed model. Burger King Corporation owns some stores while franchise owners own others.

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Q: Chain properties are owned by whom?
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