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A franchise agreement is a legal document that is done between two companies in order to use the name and the services of one company by the other company. The parties to the franchise agreement are the owner of the business i.e. franchiser & the person who takes the franchise i.e. franchisee.
The agreement is set out between the parties to discuss various terms and conditions like payments, time duration, Licences, use of brand names and penal provisions etc.
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