Concluding a Franchise Agreement
This is a variation of the license agreement according to which (except the right of use of trademark) another person is granted the right of use of other objects owned by the copyright holder. This agreement also has other names such as: Franchising agreement and agreement of Commercial concession.
In the franchise agreement there should be stipulated the number of exclusive rights that will be used, the use of commercial experience and business reputation, as well as the territory which this agreement covers.
Registration of franchise agreement should be made by the Agency which provides registration of intellectual property objects in accordance with the legislation of the Russian Federation. The agreement may be formed with or without specific period of its validity.
Termination of Franchise Agreement
The franchise agreement may be prematurely terminated, if period of validity is not indicated. Such agreement can be terminated unilaterally.
Each party has the right to terminate the agreement with notice to second party six months prior to the intended date of termination in the following cases:
- When the trademark or name of the owner is changed;
- When loss of effect of rights which belong to right holder (trademark or name);
- When right holder is declared as bankrupt in the prescribed manner;
- After the death of the right holder, if his/her heir will not pass registration process as individual entrepreneur within six month after the entry into force of the inheritance.
To form documents for franchise agreement registration is a rather difficult procedure, but not for specialists in this field. Experienced Patent and Trademark Attorneys and Lawyers of the company «Zuykov partners» LLC will provide fast and high quality procedure passing and give you recommendations.