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Franchise Agreement |
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Franchise agreement Contract by which a domestic company (franchisor) licenses its trade name and/or business system and practices for a fee to an independent company (franchisee) in a foreign market. Franchise Agreement An agreement in which an entrepreneur buys a license to use another business' products, brand, proprietary knowledge, and trade secrets. This allows the entrepreneur to start a business without building up his/her own brand or products. This is a common way to start a business, especially in highly competitive industries. An industry that utilizes franchises on a regular basis is fast food; because of stiff competition from other restaurants, it is generally more profitable for one who wishes to start a fast food restaurant to buy a franchise. See also: Turnkey business. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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| A franchise agreement with Universal Waste Systems Inc. According to a legal bulletin from the Environmental Industry Association, Douglas County, Nevada, had a franchise agreement with Douglas Disposal Inc. According to a legal bulletin from the Environmental Industry Association (EIA), Douglas County, Nevada, had a franchise agreement with Douglas Disposal Inc. |
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