The globalization and market expansion has made the Indian residents more brand-aware in the past few decades.
This change in the market scenario has allowed international brands in different categories to explore the potential of the Indian market. Many international brands like McDonald’s, Dominos, Burger King, Mothercare, Next etc. have entered the Indian market and they doing pretty well in their respective fields. Even the Indian brands like Cafe Coffee Day are expanding their roots all across the country.
Legal
When you are entering the market as the franchisor or the franchisee, you have to consider the local and national laws. The franchise scene in India is much different in comparison to the international market. This is the reason, there are no particular set of rules for franchises and the market is governed by a number of different rules and regulations.
The Contract Act
The contractual relationship between the two parties is governed by the Indian Contract Act that was established in 1872. As per the Act, there are no specific set of rules and regulations and the contract can be based on several factors depending on the understanding between the franchisor and the franchisee. However, both the parties should get a legal consultation to ensure that there is no clause in the contract which can define it as null and void at any given time without following the proper procedure.
Restraint of trade
This story is from the August 2017 edition of Small Enterprise.
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This story is from the August 2017 edition of Small Enterprise.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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