Franchise Agreement

An entrepreneur looking to start his own business may consider purchasing a franchise. Franchise Agreement is a legally binding agreement which outlines the franchisor’s terms and conditions for the franchisee. It lays down the obligations of both franchisor’s and franchisee. It explains what each party of the franchise expects from the other party about operating the franchise. The franchise agreement is the license to operate the franchise. The license concerns the ongoing franchise operation. Included are any rights you gain with your purchase. Your rights may include the use of trademarks, copyrights, territorial exclusivity, recipes or secret formulas etc.

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