franchise - assignment

Assignment
Contractual authority of a franchisee to give away, sell, or otherwise transfer or dispose of all or certain ownership rights in the franchise agreement, the franchised outlet, and/or interest in the legal entity that owns the franchise. Assignment rights vary from franchisor to franchisor and may include the right to sell the business and transfer the franchise agreement to the buyer; or to transfer ownership and rights to the family; and/or for the estate to sell the franchise upon the owner’s death or disability. Virtually all franchise agreements limit assignment in one way or another.

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