Precautions while Executing a Franchise Agreement:
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A franchise agreement is an agreement entered into by a franchisor and a franchisee to operate a franchise unit. It is a legal contract in which the franchisor consents to provide its brand and operational model to the franchisee to set up and run the similar business in another place in exchange for a fee and some share of the income generated. The franchise agreement specifies all the details regarding the contract like the rights and duties of both the parties, the fee the franchisor is supposed to pay, the duration of the agreement, the location of the franchise, etc.
