Franchise agreement | Franchise agreement format | Taxolawgy | Franchise Legal - PowerPoint PPT Presentation

Title: Franchise agreement | Franchise agreement format | Taxolawgy | Franchise Legal


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Franchise Agreement
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Franchise Agreement

• An established business for purposes of expansion
  agrees to provide its brand, goodwill and other
  required support to assist another party to set
  up and run the business in exchange for some
  charges and part of the revenue which is
  generated. In such circumstances, a legal
  document is required which declares all the terms
  and conditions acceptable to all the parties and
  the rights, duties and obligation of each party
  along with the number of profits to be shared.
  Such an agreement is called the Franchise
  Agreement.

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What Are The Different Types Of Franchise
Agreements?

• Development agreement The development agreement
  only provides for the development of the
  franchise. After the development a separate
  agreement needs to be executed to operate the
  store.
• Basic Franchise agreement After the
  development, in order to operate the business
  this agreement is made by parties. It is
  necessary to have exclusivity clauses in the
  franchise agreement so no other stores of the
  same brand are operated within a preferred
  distance from the store.
• Sub-Franchise agreement This agreement is made
  in circumstances where the franchisee is unable
  to operate the business on a full-time basis or
  wants to outsource the operations of the
  franchisee.

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What are the major elements of a franchise
agreement?

• Initial Fees
• Investment
• Product/Service
• Finances
• Obligations of Franchisor
• Obligation of Franchisee
• Exclusiveness
• Intellectual Property Rights
• Agreement Period
• Franchise Fees
• Termination

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Relevant Clauses In A Franchise Agreement
Franchise agreement clauses differ from business
to business. There are similar aspects which
these agreements address. They are

• Term And Renewal
• Fees and royalty clause
• Proprietary marks
• Confidentiality clauses
• Training
• Duty of Franchisor
• Duty of Franchisee
• Default and Termination
• Advertising
• Dispute resolution

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Elements In A Franchise Agreement

• Personal Details The franchise agreement must
  contain the full details and legal authority of
  the parties.
• Consideration The agreement must state
• the number by the party, the royalty, deposit,
• charges, mode of payment,
• payment date, etc.
• Use of intellectual property Maximum franchise
• agreements have clauses that require the
  franchisee
• to notify the franchisor in case of trademark
• infringement.

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Details of business operations The details of
goods and services which are to be provided by
the franchise, right of franchisor to inspect at
any time .
Governing law It is another very important
aspect i.e. to mention the governing law clause
it helps in making sure as to which law would
govern the parties under this agreement. In the
case of foreign entities and Indian entities
entering the agreement, it assists in
understanding which countrys law would have
governance.
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health for too long, its time to make a move.
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