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

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, it is generally more profitable for one who wishes to start a fast food restaurant to buy a franchise.
References in periodicals archive ?
A related objective is that we want to change the level of discourse on the debate if a franchise agreement is too one-sided or whether it is or should be fair or balanced.
02 UFOC for the Proposed Franchise Agreement and Commentary
The current franchise agreement expires at the end of February.
The code requires parties to give a prescribed form of notice of dispute in the event of a dispute in relation to a franchise agreement.
It is also important to the franchisor to have the selling franchisee sign a general release stating that no claims or disputes exist for the period their franchise agreement was in effect.
Through these franchise agreements, we will be using the resources of highly respected and successful local business people throughout parts of the world that would not normally be developed by Toys `R' Us itself for many years," Mr.
Accordingly, one needs to determine how to handle requested modifications to the franchise agreement after the date on which the disclosure is made, as such modifications could render the previously given disclosure document as not accurate, particularly if a draft of the franchise agreement is attached to the disclosure document, which is likely a "best practice" to follow that may trip one up in Mexico now, and therefore, at least arguably, not truthful.
and Atlas/Consolidated Disposal Service, are expected to be among the companies bidding for the contracts, which will take effect in 2006, after the current franchise agreement expires.
The agreement extends the current franchise agreement for 180 days from Aug.
specific requirements that any franchise agreement must contain, which relate to: the geographical zone and location of the franchise, which does not mean that franchisors should be obliged to grant exclusive territories or areas;
In stumping for the agreement, Gilbert said the proposed franchise agreement was the best way for SAG to have some control over the changing business dynamics of the entertainment industry.
07 percent of the franchise agreements reviewed allowed franchisors to unilaterally terminate a franchise agreement without cause.