Ever since Globalisation has taken place multiple brands have paved their way to India as a form of Franchise. A franchise agreement is a legal contract that the franchisor and the franchisee mutually agree upon. It binds both the parties into carrying out legal obligations for each other. Anyone who wants to get into the franchise business must hire a lawyer in order to be secure in business transactions. Law Chef is a one stop destination for your query and problems related to Franchise.
Law Chef has a team of Wonderfully experienced Lawyers that will draft you a world class Franchise Agreement and will help you with your business. Our Advocates will provide you the best advice to spread your business. Don't compromise your business and hire best Lawyers in Delhi and areas nearby for your business with Law Chef.
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In India, there is not specific act or legislation that deals with franchise agreement, but it is regulated by various laws of the country which are as follows:
There are numerous benefits of having a franchise agreement;
An ideal franchise agreement should include the following clauses:
A franchise agreement is a legal contract that the franchisor and the franchisee mutually agreed upon. It binds both the parties into carrying out legal obligations for each other.
There are three types of Franchise agreement;
• Master Franchise Agreement.
• Area Representative.
• Area Development Agreement.
The following are the stages to franchise your business:
• Determine if franchising is right for your business.
• Your franchise disclosure document should be released.
• Make a copy of your operations handbook.
• Publish a trademark registration.
• Establish your franchise company.
• Register and file your FDD.
• Create your franchise sales strategy and budget.
• Indian Contract Act, 1982
• The Trademark Act, 1999
• The Arbitration and Conciliation Act, 1996
• The Competition Act, 1992
• Income Tax Act, 1961
• Consumer Protection Act, 1986
• Intellectual Property Laws, Taxation Laws, Labour Laws
• Transfer of Property Act, 1882
A franchise arrangement typically lasts between five and twenty years. The size of the franchisee's original investment frequently a role in this general length of time, though market conditions and the sort of franchise can also be variables.
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