A Franchise Agreement is a legitimately official contract between a franchisor and franchisee. Each and every state in India has its own exclusive laws with respect to the franchise agreements. The substance of franchise agreements can fluctuate essentially in content depending on the franchise system, the state jurisdiction of the franchisor, franchisee, or the arbitrator.
There are five different types of franchise that we can find.
a. Job franchise,
b. Product franchise,
c. Business format franchise,
d. Investment franchise,
e. Conversion franchise,
Franchise Agreements are important and necessary legal contracts between the franchisor and the person interested to open a franchise.
At the point when franchise agreements are generally standard with right legitimate counsel, you can adjudicate terms.
By law, franchisors should furnish franchisees with a franchise acknowledgement archive to audit before any cash is traded.
Three things must be included in a franchise agreement which are the franchise fee, the trademark or trade name and a marketing system or a method of operations.
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