Unlock eSignature Legitimacy for Franchise Contracts in India

How to eSign a document: eSignature lawfulness for Franchise Contract in India

[Music] what is franchising what are the components of franchising law and agreement we are going to talk about it in this video stay tuned [Music] the franchise agreement is an agreement between a franchisor and a franchisee that agreement will entitle the franchisee to use the brand name services and products of the franchisor it goes into great detail on what the franchisor anticipates of you as a franchisee in terms of how you run every aspect of the business there is no standard form of franchise agreement since the terms conditions and operational procedures of various franchises differ greatly depending on the type of business [Music] a franchise agreement secures each party it protects both the franchisor's brand and the franchisee you will be making a big Financial commitment when you purchase a franchise and you have rights that can help protect your investment in your company when an agreement is made the rights and responsibilities of the parties are stated in the franchise agreement there is no employer Employee Connection in a franchise ing to the franchise system as the franchisee you run a different firm the franchise agreement reflects the fact that you are an independent business owner as a franchisee you have a wide range of special rights such as disclosure obligations the franchisor is required to give you a copy of your franchise agreement and the code of conduct along with an information statement highlighting some of the main advantages and Hazards of franchise Arrangements Additionally the franchisor is required to give you a Disclosure document that includes details such as operating costs and fees these expenses could include the franchisees initial and recurring fees marketing expenses fit out expenses and Lease related auxiliary expenses whether you have an exclusive territory an exclusive territory is a site where you have the exclusive right to carry out the obligations of the franchise in competition with all other franchisees within the network end of term Arrangements in this initial Disclosure document franchisors are expected to describe the rights that franchisees will hold at the conclusion of the initial term Chin's franchisees and franchisors are legally required to act in good faith in order to fulfill the terms of the franchise agreement parties are required to collaborate and act in good faith in all of their interactions with one another this responsibility covers every facet of the franchising relationship the term being described on franchise agreement refers to the time of period in which a franchisee May operate the franchise typically the time period can be the date before the expiry date or most franchise legal years of up to five years most businesses only provide five years of term period given for franchise to operate the business as stated in the franchise agreement contract from a legal perspective the term period where a franchisee can use the franchising system that includes one use the intellectual property including trademarks brand Etc to access the operation manuals training support systems assistance Etc foreign [Music] legal requirements is crucial when launching a franchise Network the franchise Disclosure document and the franchise agreement are two legally essential documents that you should become quite familiar with before franchising your firm the franchise agreement must be signed by each franchisee as well as by the franchisor as a franchisee you might want to have one reviewed on your behalf by a franchise lawyer before signing the franchise Disclosure document as a legal document that a franchisor in the United States must provide to potential franchisees it provides important details on the franchisor the 23 sections of information in the disclosure must be presented in a precise order the official franchise Disclosure document is sent by the franchisor to a potential franchisee before potential franchisees pay money or sign a legally binding franchise agreement the franchisor is required to give them the disclosure at least 14 days in advance this ends our discussion I hope you learned something from us thank you [Music] foreign [Music]