Legal glossary
What is Franchise?
Franchise — A franchise is a privilege granted to another that allows a sole right within a territory or market to engage in a certain business or deal in a certain trademarked product. A franchise agreement will be drawn up between the franchisor and the franchisee. The franchise agreement will set forth in detail the responsibilities and expectations of the franchise relationship. Chain stores, and fast…
A franchise is a privilege granted to another that allows a sole right within a territory or market to engage in a certain business or deal in a certain trademarked product. A franchise agreement will be drawn up between the franchisor and the franchisee. The franchise agreement will set forth in detail the responsibilities and expectations of the franchise relationship. Chain stores, and fast food businesses, are quite often franchise operations.