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 ?
The company also has agreed a long term master franchise agreement which provides TKP with rights to the use of the HQ, Regus and SPACES brands in Taiwan.
The court finds that the magistrate judge properly concluded that defendants have breached the franchise agreement. First, plaintiff has established that defendants owed plaintiff legally enforceable obligations under the franchise and guaranty agreements.
The franchise agreement is renewable on an annual basis.
While the company did not disclose the investment put into the franchise agreement with Famous Dave's, Shafeena Yousuf Ali, the company's CEO, had earlier told Gulf News it was investing a total of Dh150 million to double its presence by 2018.
Its implementation will be slow, with a committee report due back to the City Council within 90 days on the proposed rules for the franchise agreements. The districts must be bid out individually, and that process will take time because of various reporting requirements, city officials said.
Saudi Automotive Services Company (SASCO) has signed a master franchise agreement with US-headquartered hospitality chain, Wyndham Hotel Group to build 20 'Super 8' hotels in Saudi Arabia over the next five years.
Four Anytime Fitness clubs had been opened under a prior master franchise agreement with a different company, but that relationship terminated following that master franchisee's failure to comply with the terms of its master franchise agreement."
The first outcome is a signed Master Franchise agreement with Musaid Alsayyar Est based in Riyadh, Saudi Arabia, with a first store scheduled to open in 2012.
This franchise agreement comes close on the heels of a supply agreement signed earlier in 2011 which granted Al Meera the right to exclusively sell Casino-branded products in Qatar.
The company has been negotiating with the management of Marriott to secure a franchise agreement for the hotel apartment it constructed.
Pursuant to the franchise agreement Aer Arann will operate 12 routes from Dublin and Cork, which will include current Aer Lingus and Aer Arann services and three new routes.
Summary: French retail giant Carrefour SA (12017.FR) Friday said it signed an exclusive franchise agreement with supermarket operator Label'Vie covering Marocco.