Franchise broker definition
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.
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
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 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; "franchisee" means a person to whom a franchise is granted and includes, unless stated otherwise in this act-- (a) a master franchisee with regard to his relationship with a franchisor; and
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.