07 May Termination of Franchise Agreements
Franchising is one of the most popular ways to do business in New Zealand. Generally, things go well for both the franchisor and the franchisee: the franchisor receives the benefit of ongoing fees from the franchisee and the franchisee receives the benefit of the hard work done by the franchisor in developing a business concept and building up goodwill in the brand. Often, however, things do not go quite so well, and this can be a particular problem for a franchisor where the term of the franchise agreement is long, often up to 10-20 years. With such long terms, it may...