Franchise Transfer Agreement SamplePublished by: Europe Basketball Academy
PandaTip: Once the template is fully completed, you and the franchisee can sign the final draft franchise agreement from any computer, smartphone or tablet. PandaDoc`s electronic signatures are admissible by the courts and legally binding. Simply put; A franchise is a business opportunity. The franchisee has the legal authority to run a business with the ideas, expertise and processes of the person who owns the franchise (franchisor). Some popular examples of franchises are Subway, McDonald`s, Hertz, and Century 21. The franchise agreement defines the requirements and expectations of the franchisee that the franchisee must accept in order for the franchisee to manage his business under the franchisee`s brand. This would involve, as they expect, business to be operated on a daily basis. As the methods of operations, terms and conditions may vary from one franchised brand to another, there is no standard form for a franchise agreement. In the case of a license agreement, the licensor authorizes the licensee to use its property on commercial terms or for other reasons.
License agreements also have their own specific terms, but the content differs from that of franchise agreements. Both parties agree that all discrepancies relating to this franchise agreement take place in [Franchise.State]. The Franchisee`s failure to comply with all the terms of this Agreement shall result in the termination of the Agreement in its entirety The Owner will perform and maintain all independent advertising and will pay [Annual.MarketingFee] to the Franchise in payment for any national or international advertising necessary for the entire Franchise. 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. Any conditions deemed unenforceable may be superseded if necessary. The exclusion of the above conditions shall not affect other parts of this Agreement. . . .