Franchise broker means a person who directly or indirectly
Franchise broker means any person engaged in the business of representing a franchisor in offering for sale or selling a franchise and is not a franchisor, an affiliate of a franchisor or an officer, director or employee of a franchisor or an affiliate of a franchisor with respect to such franchise. A franchisee shall not be a franchise broker merely because it receives a payment from the franchisor in consideration of the referral of a prospective franchisee to the franchisor, if the franchisee does not otherwise participate in the sale of a franchise to the prospective franchisee. A franchisee shall not be deemed to participate in a sale merely because he responds to an inquiry from a prospective franchisee. (22) "Salesperson" means any person employed by or representing a franchise broker, a franchisor or an affiliate of the franchisor in effecting or attempting to effect the offer or sale of a franchise. (Source: P.A. 96-648, eff. 10-1-09.)
Franchise broker means a person who directly or indirectly engages in the business of the offer or sale of franchises. The term does not include a franchisor, subfranchisor, or their officers, directors, or employees.
Examples of Franchise broker in a sentence
Since January 1, 2014, no Franchise Broker has provided information to prospective franchisees of a Franchise that materially differs from the information contained in the applicable FDD then in effect.
More Definitions of Franchise broker
Franchise broker means any person engaged in the
Franchise broker means any person engaged in the business of representing a franchisor in offering for sale or selling a franchise and is not a franchisor
Franchise broker means a person that is commissioned to solicit Franchisees, or prepare or conclude Franchise Agreements, by Franchiser or Master Franchisee.
Franchise broker means a person doing business as an agent or representative of a franchisor to sell a franchise to any person for a certain consideration but does not include any director, officer or employee of the franchisor or franchisee;
Franchise broker means a person engaged in the business of representing a franchisor or subfranchisor in offering for sale or selling a franchise, except anyone whose identity and business experience are otherwise required to be disclosed in Item 11 in the body of the disclosure document.
Franchise broker means a person, other than a franchisor or franchisee, or an employee thereof, who sells, offers for sale, or arranges for the sale of a franchise.
Franchise broker means a person doing business as an agent or representative of a franchisor to sell a franchise to any person for a