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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

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

ChowieBean

10:38

Very happy with LR other than having to guess on a couple questions cuz of time

ChowieBean

10:42

i have a question about my personal statement. in my activism for the hospitality workers' union, i organized and spoke up in favor of stronger regulations on airbnb because the unregulated spread of airbnb throughout LA was inflating housing costs for workers and threatening their job security. do you think it's too divisive to mention regulating airbnb? idk

Nostradumbass

10:44

I wrote mine about how all activists should be consolidated into a large smelting pot and refined down to a viscous goo

Nostradumbass

10:45

Expecting a lot of rejections though

ChowieBean

11:07

I'm sure you'll get a full ride to a few schools :P

HowlEngineer

11:11

The impression I get is most schools try not to judge based on the political implications of what you write about. They probably care more that you saw a problem and tried to fix it. That seems like a great thing to write a PS about @chowie

HowlEngineer

11:18

Besides, if a school didn’t let you in for trying to fix a problem you saw in your community, that doesn’t say great things about your school’s culture (assuming the thing you did showed good common sense judgment ofc)

HowlEngineer

11:19

That school’s* culture

ChowieBean

11:23

Thanks Howl you're right :D I def talked about solving problems in my PS

ChowieBean

12:03

@HowlEngineer: what's your dream school

MildChiller

12:08

"Have you applied for admission to [school] in a prior year" I applied in Oct. of the 23-24 cycle, should I put 23 or 24 as the year I applied?

MildChiller

12:09

Bcuz 2023 is when I technically applied but I applied for admissions in 2024

ChowieBean

12:14

2024 cuz that's when you would've been admitted

ErraticFearlessGecko

12:17

I agree with Howl

ChowieBean

12:19

Gecko what's ur dream school

ErraticFearlessGecko

12:20

Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova

ErraticFearlessGecko

12:20

Also relatively debt averse so I'd have to get a good scholarship from BC or Fordham to want to go but that's not very likely for me

ErraticFearlessGecko

12:21

Any advice? lol

[] baddestbunny

12:25

what’s a good scholarship for you? what would make BC or Fordham worth it?

ChowieBean

12:25

Hmmmm let me think

[] baddestbunny

12:25

fordham’s max aid they give is 45k per year

ErraticFearlessGecko

12:29

Bunny I can possibly get a 75%+ scholarship from villanova or temple, and I'd be moving back in with my parents if I went there so I'd have near-zero COL. It'd be really hard to beat that

ErraticFearlessGecko

12:29

I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh

ErraticFearlessGecko

12:31

I would maybe consider BC with $ but I don't know how to decide if a better biglaw chance is worth the COL + higher tuition

Law01

12:50

How do I know if my status checkers are properly linked

HowlEngineer

12:59

@ChowieBean: right now, Michigan, but there are several that come close. How about you?

HowlEngineer

13:05

@Law01: I haven't gotten the status checkers to work at all. When I sent an email to the LSData folks the other week, they said they were working on fixing them

HowlEngineer

13:10

but I think "Last Checked" would change from "Never" to something else

ChowieBean

13:30

@HowlEngineer: I'll get more specific once I get my LSAT score, but NYU, Berk, GTown, UCLA

ChowieBean

13:30

Anywhere that's top for PI

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