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Legal Term- franchise
1. In constitutional law, a unique privilege that the Crown grants to a subject. It is also referred to as a liberty and is exemplified by the right to operate a ferry or market. 2. (Constitutional law) The ability to vote in an election. In order to be eligible to vote in a parliamentary election, an individual must meet the following criteria: be a Commonwealth citizen or a citizen of the Republic of Ireland, be at least 18 years old, be listed as a resident of the parliamentary constituency or local government area in question on the register of electors (see elector), and be free of any legal incapacity to vote. Individuals who are serving imprisonment sentences, individuals who have been convicted of specific offenses related to elections or public official extortion within the past five years, and individuals who are unable to comprehend the nature of their actions are considered incapacitated. EU citizens who have resided in the United Kingdom prior to December 31, 2020, are entitled to vote in local and devolved body elections. The voting rights of EU citizens who arrive after that date will be contingent upon mutual agreements between the UK and the EU state in question. 3. (in the context of commercial law) A license that is granted to a manufacturer, distributor, merchant, or other entity to permit the production or sale of a specific product or service in a specific region for a specified duration. The holder of the license (franchisee) typically pays the grantor of the license (franchisor) a royalty on sales, frequently in the form of a fixed sum as an advance against royalties. Additionally, the franchisor may provide the franchisee with technical and financial expertise, as well as a brand identity. In the fast-food industry, petrol stations, and travel agents, franchises are prevalent. In the European Union, a franchise contract must adhere to regulation 330/2010, which is known as the vertical block exemption. This regulation delineates the provisions that are permissible and those that are prohibited under EU competition law. The regulation remains exempt from UK competition law after Brexit, as it is based on EU law. The accompanying Vertical Guidelines offer specific guidance on franchise contract terms. The regulation and guidance are scheduled for revision by June 1, 2022.
1. In constitutional law, a unique privilege that the Crown grants to a subject. It is also referred to as a liberty and is exemplified by the right to operate a ferry or market. 2. (Constitutional law) The ability to vote in an election. In order to be eligible to vote in a parliamentary election, an individual must meet the following criteria: be a Commonwealth citizen or a citizen of the Republic of Ireland, be at least 18 years old, be listed as a resident of the parliamentary constituency or local government area in question on the register of electors (see elector), and be free of any legal incapacity to vote. Individuals who are serving imprisonment sentences, individuals who have been convicted of specific offenses related to elections or public official extortion within the past five years, and individuals who are unable to comprehend the nature of their actions are considered incapacitated. EU citizens who have resided in the United Kingdom prior to December 31, 2020, are entitled to vote in local and devolved body elections. The voting rights of EU citizens who arrive after that date will be contingent upon mutual agreements between the UK and the EU state in question. 3. (in the context of commercial law) A license that is granted to a manufacturer, distributor, merchant, or other entity to permit the production or sale of a specific product or service in a specific region for a specified duration. The holder of the license (franchisee) typically pays the grantor of the license (franchisor) a royalty on sales, frequently in the form of a fixed sum as an advance against royalties. Additionally, the franchisor may provide the franchisee with technical and financial expertise, as well as a brand identity. In the fast-food industry, petrol stations, and travel agents, franchises are prevalent. In the European Union, a franchise contract must adhere to regulation 330/2010, which is known as the vertical block exemption. This regulation delineates the provisions that are permissible and those that are prohibited under EU competition law. The regulation remains exempt from UK competition law after Brexit, as it is based on EU law. The accompanying Vertical Guidelines offer specific guidance on franchise contract terms. The regulation and guidance are scheduled for revision by June 1, 2022.
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