- Lawyer Mr. Shaman Jain
- Skills Agreements
- CATEGORY Legal Documents
ABOUT THIS PRACTICE
A Franchise Agreement refers to a legal document which lendo a business, its activities and Intellectual Property Rights to another some other business entity. The franchise agreement takes place between the franchisor i.e. the owner of the business and the franchisee i.e. the entity to whom the business is franchised.
A franchise agreement defines the terms and conditions related to the use of franchisor’s IPR, use of brand name, fees, penalties, royalty, standards of operation and the quality of product to be maintained and other legal provisions.
- Details regarding the franchise business.
- Details pertaining to the clauses to be added in the agreement.
Our legal experts understand the legal requirements of the business and our lawyers can prepare a draft of Franchise Agreement on the basis of information provided. After preparation of the first draft agreement the lawyer has to send it back for approval. The document is ready to be signed by the parties once approval is granted.
- BRAND RECOGNITION: Buying franchise or entering into a franchise agreement provides recognition from an already established brand.
- MANAGERIAL ASSISTANCE: A franchise receives managerial help directly from the brand.
- QUALITY CONTROL: A franchise doesn't have to be concerned about the quality of goods or services since brands take care of the quality assurance of all their goods.
- HIGHER SUCCESS RATES: Franchise owned businesses have higher success rates as compared to other independent businesses.
- OPPORTUNITY FOR GROWTH: Operations of most of the franchisees are spread over in multiple locations .Thus, they enjoy better growth than the independent businesses.
- OPERATING PRACTICES: Franchise agreements have better operating practices since they are completely settled and already working in full swing.
- COSTS: The franchise agreement provides entire cost required for acquiring the franchise. It explains the fees and royalties for which the franchise operator is responsible.
Clause of the agreement clearly mentions the time duration for the initial term of a franchise agreement. The clause provides franchise with the option of either continuing with the franchise agreement or not and also provide information regarding the same within mentioned time.