Franchise Agreement
Expand your business at different locations by giving opening different franchises.
Entering into a Franchise agreement would ensure that there is a standard legal framework that protects the interests of both parties, ensures consistency and quality across franchise locations, and helps maintain the integrity of the franchise brand. It is essential for maintaining a successful franchisor-franchisee relationship and fostering long-term business growth.
Who may use a Franchise agreement?
between a franchisor (the owner of a brand or business model) and a franchisee (an individual or entity granted the right to operate a franchise business). The agreement outlines the rights and obligations of both parties in the franchising relationship to ultimately reduce litigative exposure.
Information Required
- Name of the franchiser and the franchisee.
- Trademark name
- Lock-in period and the notice period
- Duties and obligations of the franchiser and franchisee
- Franchise fee and the way of payment
- Contingent royalty
- Right to go through the books
- Periodic furnishing of reports
- Right to terminate
- Due date of the payments
- Payment of cost incurred.
- Treatment of IPR
- Confidentiality
- Indemnification
- Force Majeure
- Exclusivity
Why Legalup?
When it comes to drafting your Franchise Agreement, choosing Legalup can bring you numerous benefits. As a team of affordable, accountable, and adaptable lawyers, we understand the intricacies of franchise law and the importance of protecting your interests. Our expertise ensures that your agreement is expertly crafted, addressing crucial provisions and mitigating risks. With our adaptable approach, we tailor the agreement to your specific needs, ensuring compliance with relevant laws and regulations. By entrusting Legalup, you gain the advantage of professional guidance, reducing the chances of disputes and establishing a solid foundation for a successful franchising relationship. With Legalup, you can have peace of mind, knowing that your franchise agreement is in capable hands.
Questions You May Wonder?
With the worldwide pandemic, a number of industries have been negatively impacted, both in the short term and the long term.
A franchise agreement in India should include details about the franchise fees, territory rights, intellectual property usage, training and support, marketing obligations, and duration of the agreement.
Yes, a franchise agreement can be terminated before the agreed term if either party breaches the terms, as specified in the agreement or under Indian contract laws.
Whether franchise fees are refundable or not depends on the terms of the agreement. It is essential to review the agreement to understand the refund provisions, if any.
The franchise agreement should specify whether a franchisee can sell or transfer the franchise business, subject to the franchisor's approval and compliance with any conditions mentioned in the agreement.
The franchise agreement should specify whether a franchisor can open competing outlets in the same territory. It is important to address territorial rights and restrictions in the agreement.
If the franchisor fails to provide the promised support or training, the franchisee may seek legal remedies or dispute resolution as per the terms of the agreement or applicable Indian laws and similar recourse goes for franchisor in terms of non-compliance by the franchisee.
