- franchise agreement
The contract that establishes the terms of a franchise relationship.Category: Business, LLCs & Corporations → Buying or Selling a Business
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- franchise agreement
An agreement between two parties which grants the franchisee a right to exploit a franchise in return for direct or indirect financial consideration and includes obligations as to name, sign and presentation of shop premises, communication of know-how to the franchisee and continuing provision of commercial or technical assistance for the duration of the agreement. In essence, the franchiser licenses the franchisee to use the franchiser's distinctive trading format while remaining an independent trader. The franchiser is paid royalties for the licence to use his intellectual property rights and maintains control over the franchisee, to protect those rights and maintain the reputation and identity of the franchise.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
franchise agreement — / fræntʃaɪz əˌgri:mənt/, franchise contract / fræntʃaɪz ˌkɒntrækt/ noun a legal contract to trade using a brand name and paying a royalty for it … Marketing dictionary in english
franchise agreement — Mktg see franchise … The ultimate business dictionary
franchise agreement — contract by which a domestic company ( franchisor) licenses its trade name and/or business system and practices for a fee to an independent company ( franchisee) in a foreign market. Bloomberg Financial Dictionary … Financial and business terms
master franchise agreement — An agreement entered into by a franchisor who grants a master franchisor the right to grant sub franchises within a territory. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
franchise — fran·chise / fran ˌchīz/ n [Anglo French, literally, freedom, liberty, from Middle French, from franchir to free, from Old French franc free] 1: a special right or privilege granted by the government to an individual, group, or business entity:… … Law dictionary
Franchise consulting — Franchise consulting, a specialized category of professional assistance for investors, entrepreneurs, and enterprises, is a field which has arisen from the increased popularity and profitability of franchising.Potential franchise owners (called… … Wikipedia
franchise — A special privilege to do certain things conferred by government on individual or corporation, and which does not belong to citizens generally of common right; e.g., right granted to offer cable television service. Artesian Water Co. v. State,… … Black's law dictionary
franchise — Mktg an agreement enabling a third party to sell or provide products or services owned by a manufacturer or supplier. A franchise is granted by the manufacturer, or franchisor, to a franchisee, who then retails the product. The franchise is… … The ultimate business dictionary
franchise — a business arrangement in which knowledge, expertise and often a trade mark or trade name are licensed to an operator, generally for an initial fee and a yearly payment. Glossary of Business Terms * * * ▪ I. franchise fran‧chise 1 [ˈfræntʆaɪz]… … Financial and business terms