Tag : Franchise Business
Pertaining to the differences between Joint venture and Franchise it’s important to know about the aspects of both and outputs to the business world. This write-up is going to acknowledge about the concept of franchise and joint venture and their benefits respectively along with the differences. It will also allude their relevance to the today’s competitive modern era.
Two independent parties to the franchise agreement named franchisor and franchisee are under a contractual arrangement that worked as a joint venture and allowed to use their respective trademarks or any sort of human intellect is called as franchise. The marketing strategy with an objective of business expansion is not only a contractual relationship but also upholds the franchisor’s brand value which is one of the popular tool. To excel in the business by mode of expansion franchise is one of the best options which can be achieved through scale the business model. This write up is going to acknowledge about the franchise and its benefits and need to set up a franchise to business expansion. It will also allude the theme which is about the things need to take into consideration for setting up a franchise.
Bhavpreet Singh Soni Sep 11, 2021 0 43
Entrepreneurs, these days often look for opportunities which yield profits in a short span of time and do not require them to work from starch, i.e., from formulating an idea to placing the finished product in the market and everything in between, then what better than a franchise. Right? But before getting into the technicalities of a franchise, it is important to understand what it actually denotes. “A franchise is a type of license that grants a franchisee access to a franchisor's proprietary business knowledge, processes, and trademarks, thus allowing the franchisee to sell a product or service under the franchisor's business name. In exchange for acquiring a franchise, the franchisee usually pays the franchisor an initial start-up fee and annual licensing fees.”
A master franchise agreement is a type of franchising agreement in which the franchisor (the proprietor of the brand) transfers the control of the franchising rights in a particular territory to an individual or entity, which is known as the master franchisor. Here, the franchisor grants the master franchisee, the right to own and work and the right to sub-franchise the right to open units to other independent businesses (called franchisees) during a specified time and within a particular area
Intellectual Property Rights (IPRs) are valuable assets of a business that aims at not only in contributing to the general profitability of a business but also aids in the advancement and innovation in technological sectors of every country. After India became a signatory to the WTO TRIPS Agreement, the IPR laws of the country were amended to make them more consistent and fit globally. And the amendments are turning out to have positive changes in the IP regime of the country.
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