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Have No Fear

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  • Posted on 14th Sep, 2022 01:03 AM

Employment Law, business - Have No Fear - Entrepreneur.com

This story appears in the December 1998 issue of Entrepreneur. Subscribe »

A franchise agreement isn't exactly light reading, butbuying a franchise without poring over the agreement first couldspell disaster. Fortunately, while the size, shape and style offranchise agreements vary according to each system, many of theirbasic features are universal.

A franchise agreement grants you the right to operate a businessin the franchisor's system. It's a complex commercialcontract designed to create a business relationship that could span20 years or more. It grants a panoply of intellectual propertyrights, describes product and service standards, and sets theground rules for the transfer, renewal and termination of thebusiness relationship.

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