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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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| The ACCC considered that the ALM licence agreements constituted franchise agreements, as all elements of the definition of a franchise agreement were satisfied notwithstanding that the arrangement was described as a licence. the National Express East Coast franchise operator, that it intends to terminate the franchise agreement at 11. Thus, the determination of whether to declare the franchisee in default under the franchise agreement must be given serious consideration. |
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