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Franchise Agreement

April 12, 2024

Franchise Agreement

A franchise agreement is a legally binding agreement between a franchise represented by a company or a business and a franchisor represented by another party involved in the contract. With this agreement, the rights, responsibilities, and obligations are all mentioned and agreed upon by the parties involved, creating a safe place of business. A franchise agreement helps the company extend its business while keeping its standards and procedures. 

However, a franchise agreement needs to have the following components:

  • The time and duration of the agreement
  • The place or location where it is going to operate
  • The procedures
  • The fees of the franchise and the investment will require
  • The trademark use  needs to be specified
  • Termination and renewal of the agreement

Subjects

Franchise Agreement
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