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LSDefine

Simple English definitions for legal terms

franchise agreement

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A quick definition of franchise agreement:

A franchise agreement is a contract between two parties: the franchisor and the franchisee. The franchisor gives the franchisee the right to use their brand name and sell their products or services. In exchange, the franchisee pays the franchisor a fee. This fee can be a one-time payment or a recurring payment. The franchise agreement also outlines the responsibilities of both parties. The franchisor wants to protect their brand and make sure the franchisee operates the business in a certain way. The franchisee wants to use the franchisor's brand to make money. Famous franchises include McDonald's, KFC, and Burger King.

A more thorough explanation:

A franchise agreement is a legal contract between a franchisor and a franchisee. The franchisor is the owner of a business or trademark, and the franchisee is someone who wants to operate a business using that trademark. The agreement gives the franchisee the right to use the franchisor's trademark and business model in exchange for payment.

  • McDonald's is a famous franchise. If someone wants to open a McDonald's restaurant, they would need to sign a franchise agreement with McDonald's. This agreement would give them the right to use the McDonald's name, logo, and business model.
  • Another example is 7-Eleven. If someone wants to open a 7-Eleven convenience store, they would need to sign a franchise agreement with 7-Eleven. This agreement would give them the right to use the 7-Eleven name, logo, and business model.

These examples illustrate how a franchise agreement works. The franchisor owns a successful business or trademark, and the franchisee wants to use that success to start their own business. The franchise agreement allows the franchisee to use the franchisor's name, logo, and business model in exchange for payment.

franchise | franchise tax

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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