Franchise Agreement (Drafting)
Franchise Agreement is the legal agreement that will help you to expand your business throughout world. Franchise agreement creates the Franchise relationship between Franchisor and Franchisee. Franchise Agreement gives the legal right to engage and establish the Franchised Business.
As a Franchisor your Franchisor Agreement will be the most important legal document. Franchise Agreement will govern and define the relationship with your Franchisee.
FEATURES OF FRANCHISE AGREEMENT
1. EXPANSION OF BUSINESS : Franchise agreement will help you to expand your business, and gain wider acceptance of his trademark and brand name. The Franchisor can enter into foreign markets also and enhance his goodwill and his business.
2. LEGALLY ENFORCEABLE : Franchise agreement is legally enforceable agreement. On the breach of any terms and condition of Franchise agreement by Franchisor or franchisee they both can sue each other on the basis of Franchise agreement.
3. REGULAR INCOME : By way of royalty from the Franchisee the Franchisor receives regular income at no extra cost.
4. ADVANTAGE OF MARKET FEEDEBACK : Through the Franchisee the franchisor gets market feedback about product and popularity preference and need of the local customers.