Agreement Template / December 1, 2018 / Ellen Tillman
Many times these types of forms are drawn up by lawyers. These forms can be very expensive and are not essential. It is only advisable for those who do not have time or resources to create this document on their own. A commercial lease agreement is different from a residential one. That is renters have far more latitude such as constructing a building that suits their business but they have far less freedom in terms of what they can do with the property they are renting. Lasting for 5 or even 10 years depending on the terms the landlord and tenant set a commercial lease is usually much longer than a residential lease. A commercial lease will often list several people on the lease both as landlords or investors and the group that is renting the space. Each person that has a stake in the agreement should be listed.
Assigning geographical boundaries: A franchise has to have a geographical boundary within which the franchisor should not establish another franchise. This goes in the interest of the franchisee to have that added from a Franchise agreement template in the final contract so that there are no competitors in your territory. Time period of the Agreement: This has to be defined with reference to your investment. With larger investment the time period of the agreement has to be proportionately more. Not settling on a time period could be disastrous. Royalties fee and total anticipated investment: The fee for getting the franchise royalty for using the trademark and brand name and the anticipated investment in the business have to be agreed upon in the agreement.
Unless you are in a college dorm or you lost a significant amount of your income Landlords are hard pressed to allow something like this to happen. In the event you are the Sub-Lessor you are still liable for your lease with the Landlord if the Sub-Lessee fails to pay rent or breaches their lease in any way. Think of the last time you thought about entering into business with someone. Whether you were engaging a consultant hiring an employee sharing your trade secrets with a vendor or providing your private data to a customer youve probably asked the other side to sign a confidentiality agreement protecting your most prized information (or theyve asked you to do so). But this kind of contract shouldnt be some simple hoop to jump through farmed out to your lawyers or contract managers without you paying close attention to the details.