Franchise Agreement

FRANCHISE AGREEMENT

 

The franchisor agreement is made between a franchisor with any other entity agreeing upon certain terms to authorize the entity to use the trademark or business of the franchisor on payment of consideration known as a royalty. The agreement describes the relationship between the parties and set down all terms and conditions that shall be a base for their future transactions.

Panomics Legal Mentors is an online legal service platform where a team of expert legal professionals from India, offering a variety of legal services relating to all kinds of agreements, legal notices, negotiable instruments, company registrations, intellectual property, tax services, personal and property services.

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WHY CHOOSE Panomics Legal Mentors?

This organization comprises of expert legal professionals, who use their expertise will draft an agreement of franchise that shall cover all the legal requirements and needs of the parties. The experience and the knowledge that our professionals hold can help you in including clauses in your agreement that shall effectively describe the relationship between the parties as well as avoid confusions or difficulties in the future.

ADVANTAGES OF FRANCHISE AGREEMENT

 

  1. IMPROVES CLARITY: The agreement involves a detailed description of the nature of work and terms of lending the trade name and business of franchisor which negates the scope of doubts between the parties.
  2. GUARDS THE PARTIES: The parties express their will, rights, and duties in an agreement which reduces the scope of disputes between the parties in the future.
  3. PROOF: It acts as evidence that expresses the duties and rights which the parties have agreed on.
  4. SCOPE OF CONFIDENTIALITY: Agreement involves clauses that state the compliance with any confidentiality that the parties may prescribe in their contract.
  5. INTELLECTUAL PROPERTY RIGHTS: The ownership rights and usage rights of a trademark or trade name will be clearly distinguished in the franchisor agreement that will establish the rights of parties very clear.

CONTENTS

 

  1. Name and details of parties.
  2. Date of contract.
  3. Nature of business.
  4. Term of the franchise.
  5. Cost of the franchise.
  6. Royalty and terms of payment.
  7. The remedy for infringement of rights or misuse of terms or non-compliance with the agreement.
  8. Circumstances for canceling the franchise.
  9. Conditions of usage of trade name or trademark.
  10. Confidentiality terms (if any).
  11. Dispute Resolution.