Simple & Easy Law Info

Simple & Easy Law Info

Franchise (Franchise Agreement)

Franchise Agreement Franchise Agreement www.easylaw.go.kr Easy to Find, Practical Law Logo



I would like to conclude a franchise agreement. What should I pay attention to when reviewing the franchise agreement?



You should make sure that the following mandatory matters are included in the franchise agreement. Matters concerning the granting of a license for business marks Matters concerning the terms and conditions of business activities of the franchisee Matters concerning education, training, and business guidance for the franchisee Matters concerning the payment of franchise fees, etc Other matters specified in Article 11(2) of the “Fair Transactions in Franchise Business Act” and Article 12 of the Enforcement Ordinance of the same Act



What if the franchise headquarters concluded a franchise agreement in which mandatory matters are not specified? It may be imposed with corrective measures or penalty surcharges.



The franchise headquarters shall not include in a franchise agreement any unfair provisions, such as imposing an obligation to pay excessive damage compensation on franchisees.



If the franchise headquarters violates this, it may be ordered by the Fair Trade Commission to take necessary measures, such as deleting or modifying unfair terms and conditions in the franchise agreement.



For detailed legal information, please refer to “Franchise Agreement” in easylaw.go.kr. content of “Easy to Find, Practical Law.”


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