A Franchise Agreement is a legal contract where an established business (Franchisor) offers its brand/technology/working model to another party (Franchisee) to run a similar business. The same is done for consideration with a fixed or revenue sharing. The franchisor will also offer requisite support to the franchisee to run the business. The agreement will further detail the obligations of both the parties.
Benefits of Franchise Agreement
The franchisee will have an exclusive right to a territory, product/service for fixed period.
Franchise Agreement prevents infringement of process and misuse of brands by the franchisee.
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