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Transportation Network Company Tnc

Transportation Network Company (TNC)

Definition

A business model that offers prearranged rides or car rentals for a fee, utilizing an online application (app) via a mobile device to connect passengers or automobile renters with drivers/car owners. Examples include Uber, Lyft, and Zipcar.
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Related Terms

Car Sharing

Typically short-term car rentals activated by an online or mobile device available exclusively to members. Car sharing companies may own the rental vehicles (for example, Zipcar), or individuals may own them in a peer-to-peer rental (for example, RelayRides).

Ridesharing

Using mobile device applications available to members to link automobile owners driving their personal autos to transport fee-paying passengers for short trips (examples are Uber and Lyft).

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