The UK Franchise Agreement

Whichfranchise:

In order to become a franchisee you will have to enter into a legal agreement with the franchisor, known as the franchise agreement.

The Franchise Agreement

A franchise agreement should achieve three fundamental objectives:

FIRST – Given the absence of specific franchise legislation, it should contractually bind the franchisor and the franchisee and accurately reflect the terms agreed upon.

SECOND – It should seek to protect for the benefit both of the franchisor and the franchisee, the franchisor’s intellectual property.

THIRD -It should clearly set out the rules to be observed by the parties.

Here you can check The Terms / The Intellectual Property / The Rules.

Once a franchise agreement has been signed, both parties will be bound by it. It can be a double-edged sword and if the franchisor has got it wrong he will have to pay the price. A final word of caution – remember that generally speaking, there is still no law against making a bad bargain!