Introduction

Franchise is a license issued by a society or company under certain terms and conditions for an individual or company to manage a point of sale in a given area or place. Society or company that grants the license is called franchisor, while a selling point is known to the individual who accepts the terms and conditions to operate as a franchisee. The franchisee is committed to use the brand franchise, products, services, promotions, sales methods, display and distribution at all times respecting certain terms and conditions. The franchisee pays a fee to the franchisor's license to sell their products, services, or goods. This type of agreement mutually beneficial, the franchiser receives new area to establish business where the franchisee will get already developed the brand's products and prevents the working of thinking what to do, because all development and decisions are taken by the franchisor and all what is presented, step by step, without that nothing is left to chance and so everything must operate with precision. Legal aspects of franchising in legal terms of franchise is a contract. The franchisee is normally granted an exclusive territory in which he or she is the sole distributor of the products or services defined in a particular place. The franchisor has the obligation to help the franchisee through advertising, promotion, research and development, training and education, etc. For assistance, try visiting John Blondel Goldman. There are laws enacted to protect potential franchisees from being misled by franchisors with false promises or data too benevolent. The franchisor must disclose all financial details, such as revenues, operating costs, recurring expenses franchisors should also reveal the history of the company, including experience in the businesses of its senior executives, and if any of its executives, in the past seven years, she has been convicted of a felony or has participated in some commercial fraud or has some sort of franchise litigation, or has been been involved in any bankruptcy proceedings. In addition to this communication, description objective of the franchise and the Declaration of the total funds to be paid, as a fee for the initial license, deposits, payments, rent paid in advance, and purchases of inventory are mandatory.