The Assignment Of Franchise Agreement is a crucial document used when an existing franchisee wishes to transfer their franchise rights and obligations to a new franchisee in the Philippines. This document is essential for businesses operating under the Philippine Franchise Regulation Act and must comply with local corporate laws, intellectual property regulations, and competition laws. It typically becomes necessary during business sales, restructuring, retirement of franchise owners, or strategic business exits. The agreement covers comprehensive details including transfer of assets, assumption of liabilities, employee matters, intellectual property rights, and ongoing operational requirements. It requires careful consideration of existing franchise terms, regulatory compliance, and the specific needs of all parties involved in the transfer.
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1. Parties: Identifies the current franchisee (Assignor), the new franchisee (Assignee), and the franchisor
2. Background: Outlines the existing franchise agreement details, reason for assignment, and context of the transfer
3. Definitions: Defines key terms used throughout the agreement
4. Assignment and Assumption: Core provision detailing the transfer of rights and obligations from Assignor to Assignee
5. Consent of Franchisor: Explicit statement of franchisor's approval of the assignment
6. Effective Date: Specifies when the assignment becomes effective
7. Consideration: Details the payment or consideration for the assignment
8. Representations and Warranties: Statements by all parties regarding their authority, capacity, and compliance
9. Liabilities and Indemnification: Allocation of past and future liabilities between Assignor and Assignee
10. Compliance with Franchise Agreement: Confirmation that the assignment complies with original franchise agreement terms
11. Governing Law: Specifies Philippine law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Employee Matters: Required when the assignment involves transfer of employees
2. Intellectual Property Transfer: Needed when specific IP rights need separate transfer documentation
3. Training and Transition: Include when specific training requirements exist for the new franchisee
4. Non-Competition: Added when additional non-compete provisions are required for the Assignor
5. Security Deposit: Include when a security deposit is required from the Assignee
6. Government Approvals: Required when specific regulatory approvals are needed
7. Broker Provisions: Include when a broker was involved in facilitating the assignment
1. Original Franchise Agreement: Copy of the existing franchise agreement being assigned
2. Financial Statements: Current financial statements of the franchise operation
3. Asset Inventory: Detailed list of physical assets included in the assignment
4. Existing Contracts: List of contracts being transferred as part of the franchise
5. Intellectual Property Register: List of trademarks, trade secrets, and other IP rights
6. Required Consents: Copies of third-party consents and regulatory approvals
7. Employee Information: Details of employees being transferred (if applicable)
8. Payment Schedule: Details of payment terms and installments if applicable
Relevant legal definitions
Clauses
Relevant Industries
Retail
Food and Beverage
Hospitality
Education Services
Healthcare Services
Automotive Services
Real Estate
Professional Services
Personal Care Services
Technology Services
Entertainment
Fitness and Wellness
Relevant Teams
Legal
Operations
Compliance
Finance
Business Development
Risk Management
Corporate Affairs
Commercial
Franchise Administration
Human Resources
Relevant Roles
Chief Executive Officer
Chief Legal Officer
Franchise Development Manager
Legal Counsel
Business Development Director
Operations Manager
Compliance Officer
Financial Controller
Commercial Director
Franchise Relations Manager
Business Owner
Corporate Lawyer
Franchise Administrator
Risk Management Officer
Business Transfer Specialist
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