Document background
The Assignment Of Franchise Agreement is a crucial document used when an existing franchisee wishes to transfer their franchise rights and obligations to a new franchisee in the Philippines. This document is essential for businesses operating under the Philippine Franchise Regulation Act and must comply with local corporate laws, intellectual property regulations, and competition laws. It typically becomes necessary during business sales, restructuring, retirement of franchise owners, or strategic business exits. The agreement covers comprehensive details including transfer of assets, assumption of liabilities, employee matters, intellectual property rights, and ongoing operational requirements. It requires careful consideration of existing franchise terms, regulatory compliance, and the specific needs of all parties involved in the transfer.
