Franchise Agreement Definition is a document that enables a Parent Company to operate through a number of branches run by different individuals who operate in compliance with the standards and specifications imposed by the Parent Company and based on its specific business model. The Parent Company through the agreement shares the trademark and gains royalty in exchange for the use of the brand name. Franchise Agreement Draft gives the complete purview of the relationship. A Franchise Agreement begins with the date on which the Agreement is executed and the place where it is executed followed by the name of the parties.
Given below is an attachment for a Franchise Agreement Draft India Free Download for your reference to understand the Contents Franchise Agreement. It would be beneficial if you glance through a franchise agreement sample to get a fair idea. This will provide you with what areas to cover while entering into a Franchise relationship.
Draft a Franchise Agreement which outlines:
- Franchisors Responsibilities
- Franchisee Responsibilities
- Selling/Transfer of Franchise
- Renewal and Termination
Franchise under the Indian Contract Act helps to objectify the franchise contract in India. With its terms and conditions. This will not only benefit you in the later stage but will also help in making the idea of the business and franchise clear to everyone. Franchise agreement words must be used effectively and are very important.
An experienced franchise lawyer can explain important provisions of the franchise agreement. A franchise lawyer may also be able to point out unusually harsh or one-sided provisions that are not common in the industry. An experienced attorney will understand what to look for in the Franchise Disclosure Document and can identify red flags.
The franchise relationship is not employer-employee. As the franchisee, you operate a separate business in accordance with the franchise system. You are an independent business owner and the franchise agreement reflects this separation of interests. Both parties should thoroughly review franchise agreements before signing.