Amending A Franchise Agreement
You will not have an exclusive territory. They may be competitive with other franchisees, outlets we own, or other distribution channels or competitive brands we control. It should be emphasized that the requirement does not require disclosure of the identity of the official with the share of ownership, or even the extent of the interest. It only requires the identification of «a supplier» in which franchisees must make a purchase in which an official of the franchisee holds «an interest». Franchisors would therefore be well advised to err in assessing the importance of an executive`s interest on the disclosure side. Answer: From or after July 1, 2007, franchisees may use the modified franchise rule. Until July 1, 2008, all franchisees are only allowed to use the modified rules format. . . .