Intellectual property rights owners are increasingly feeling the pressure from the counterfeit goods that are invading the global market. Societies worldwide also suffer, as countless people are either slaves to these criminal black marketers or victims of their faulty products. The second part of this two-part feature takes a look at some of the economic and social problems posed by counterfeiting and other IP rights violations.
December 6, 2018
A franchise agreement is a legally binding contract between a franchisor and a franchisee, specifying the rights, costs, and responsibilities of the parties in the franchising relationship. A typical component of a franchise agreement is a clause allowing the franchisee to use the franchisor’s intellectual property assets, such as trademarks, to reap the commercial benefits of a successful brand or business model.