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In order to understand as to how we can execute a proper franchise agreement, first we have to be clear what a Franchise is and why is Franchise Agreement executed. In one line we can say that a
What is a Franchise? When an established brand decides to lend their name, goodwill and trade secrets to set up their Brand’s Store on different locations and executes an agreement for the same effect then such an agreement is termed as a Franchise Agreement. Here, Franchisor and Franchisee enter into a legal agreement where Franchisee operates its business under the name of the Franchisor in exchange of payment of some fees including initial payment and royalties. Checklist for Franchisee Agreement Following is an example of checklist to be considered before finalizing a Franchise agreement. This is done to make sure that the agreement is not ambiguous and includes all the key clauses. Costing Related
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