Franchise Agreement
Description
About This Service
What is a franchise agreement?
A franchise agreement in India is basically a contract where a business person agrees to grant the enterprise name or company system to an entity or individual called a franchisee.
It is lawfully a binding document that framework’s a franchisor’s terms and conditions for a franchisee. It is important for you to know that the franchise agreement is going to administer everything about how the franchisee will run a new business and lay out what they can assume from the franchisor side.
Always remember that there is no standard form of franchise agreement because the terms, conditions, as well as procedures of operations of different franchises, differ depending upon the type of business.
It is necessary for all the franchisee to sign the franchise agreement and also the franchisor needs to sign the document.
A word of caution, a franchise agreement is an obligatory legal document that should be reviewed by a franchise advocate on your behalf before the signature.
A franchise the agreement includes several things that are stated below:
- Franchisor-franchisee details along with the relationship
- Agreement duration
- Franchisee fee and related matters
- Site selection and development
- Business operations
- Branding and advertisement
- Intellectual property and trademark
- Training and support
- Termination clause
Why it is required?
A franchise agreement is a legal document between the franchisor and franchisee. This agreement protects both sides and is mainly designed to safeguard the franchisor’s intellectual property as well as assure consistency in how each of its licensees function under its brand.
This agreement also allows the businessman to define guidelines for the maintenance of quality linked to numerous facets of the trade before onboarding the client and binding them in a franchise bond.
Therefore, if you want to get the franchise agreement done then contact BusinessBadhega.com today.