Franchise Agreement

INTRODUCTION

Franchise Agreement is a document which enables a Parent Company to operate through a number of branches run by different individuals who operate in compliance with the standards and specifications imposed by the Parent Company and based on its specific business model of. The Parent Company through the agreement shares the trademark and gains royalty in exchange for the use of the brand name.

PROCESS

Stated below are certain important clauses of a Franchise Agreement.

• Franchisors Responsibilities
• Franchisee’s responsibilities
• Fees, charges and payment
• Property lease
• Advertising
• Rights
• Selling/Transfer of Franchise
• Confidentiality
• Renewal and Termination
• Severability
• Jurisdiction

ADVANTAGES / FEATURES

The first importance of the Franchise agreement is that it is a legally binding document that outlines the franchisor’s terms and conditions for the franchise. It also outlines the obligations of the franchisor and the franchisee. The agreement also outlines certain important aspects like the duration of the franchise, fee, business operations, locations, training, and support to the staff, etc. It is an important document to protect the intellectual property rights of the franchisor. Franchise agreement defines what is licensed to the franchisee, how a franchisee can use the intellectual properties of the brand and the rights of the franchisor to evolve the system. To put it in simpler words, the franchise agreement governs the relationship between the parties and it stands to protect the parties in an event of a dispute.

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