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Assignment Of Franchise Agreement

Assignment Of Franchise Agreement Template for Malaysia

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Key Requirements PROMPT example:

Assignment Of Franchise Agreement

"I need an Assignment of Franchise Agreement for transferring my Malaysian restaurant franchise in Kuala Lumpur to a new franchisee, with completion scheduled for March 15, 2025, including standard handover provisions and a 30-day transition period."

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Document background
The Assignment Of Franchise Agreement is a crucial document used in Malaysian business transactions when an existing franchisee wishes to transfer their franchise rights and obligations to a new franchisee. This document is essential for compliance with the Malaysian Franchise Act 1998 and related regulations. It typically includes detailed provisions for the transfer of business assets, intellectual property rights, operational responsibilities, and financial obligations. The agreement requires careful consideration of existing contractual relationships, regulatory requirements, and the franchisor's rights and interests. It must address key aspects such as training requirements, transition periods, and ongoing obligations while ensuring all parties' interests are protected under Malaysian law.
Suggested Sections

1. Parties: Identifies the Franchisor, existing Franchisee (Assignor), and new Franchisee (Assignee)

2. Background: Recitals explaining the original franchise agreement, reason for assignment, and context of the transfer

3. Definitions and Interpretation: Defines key terms used in the agreement and establishes interpretation rules

4. Assignment and Assumption: Core provisions detailing the assignment of rights and assumption of obligations

5. Consideration: Details of payment or other consideration for the assignment

6. Effective Date: Specifies when the assignment takes effect

7. Franchisor's Consent: Explicit consent from the franchisor for the assignment

8. Representations and Warranties: Statements of fact and promises by all parties

9. Release and Indemnity: Release of existing franchisee and indemnification provisions

10. Continuing Obligations: Ongoing obligations of each party post-assignment

11. Costs and Stamp Duty: Allocation of legal costs and stamp duty

12. Governing Law and Jurisdiction: Confirms Malaysian law applies and jurisdiction for disputes

13. Execution: Signature blocks and execution formalities

Optional Sections

1. Third Party Consents: Required when additional third-party approvals are needed for the assignment

2. Intellectual Property Rights: Specific provisions for IP transfer when the original agreement has unique IP arrangements

3. Training and Support: Additional provisions for training the new franchisee if required

4. Transition Period: Provisions for a handover period between old and new franchisee

5. Non-Compete Obligations: Additional restrictions on the existing franchisee post-assignment

6. Outstanding Liabilities: Specific provisions for handling any existing debts or obligations

7. Employee Transfer: Provisions for transferring employees if applicable

Suggested Schedules

1. Schedule 1 - Original Franchise Agreement: Copy of the original franchise agreement being assigned

2. Schedule 2 - Assets and Inventory: List of physical assets, inventory, and equipment being transferred

3. Schedule 3 - Premises Details: Details of business premises and any lease arrangements

4. Schedule 4 - Intellectual Property: List of trademarks, patents, and other IP rights involved

5. Schedule 5 - Operating Manuals: List of franchise operating manuals and procedures

6. Schedule 6 - Financial Statements: Recent financial statements of the franchise business

7. Schedule 7 - Existing Contracts: List of ongoing contracts and obligations being transferred

8. Schedule 8 - Regulatory Approvals: Copies of relevant licenses, permits, and regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions























Clauses

























Relevant Industries

Food and Beverage

Retail

Education and Training

Healthcare Services

Automotive Services

Real Estate

Hospitality

Personal Services

Professional Services

Beauty and Wellness

Relevant Teams

Legal

Compliance

Commercial

Finance

Operations

Business Development

Risk Management

Corporate Affairs

Franchise Operations

Relevant Roles

Franchise Development Manager

Legal Counsel

Business Development Director

Compliance Officer

Commercial Director

Chief Executive Officer

Chief Financial Officer

Operations Director

Franchise Operations Manager

Risk Manager

Contract Administrator

Business Owner

Franchise Consultant

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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