Brands Franchise Agreement
The function of a franchise agreement is to give the franchisee the power to use the franchisor`s system and proprietary brands to manage a franchise transaction. For laymen, this is an agreement in which a well-established company (franchisor) decides to give its brand, operating model and other necessary support to another party, the franchisee. The franchisor allows the franchisee to operate a similar business for a fee and a share of the revenue generated. This agreement contains the professional and legal conditions that both parties will share during their mandate. The franchise agreement helps to maintain a cordial relationship between the franchisee and the franchisee. The agreement contains the name of the brand, the duration of the franchise agreement and the amount of the costs, clauses relating to the penal determination, compensation and termination of the franchise. India`s franchising sector is experiencing strong growth and development. There are also large franchises like hotels, spas, and hospitals, which are the subject of more in-depth discussions between technology alliances. Accordingly, the Owner agrees to give up all rights to use the Franchise`s intellectual property at the location mentioned in this Franchise Agreement, including intellectual property, such as logos and signs. Mazero: A successful franchise system should allow the potential franchisee to exploit economies of scale in areas that an independent operator could hardly use on its own.