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In Owerri, Nigeria, franchising is governed by the same laws that govern commercial contracts as there is no specific legislation for franchise business. Nigeria is a member of World Intellectual Property Organisation (WIPO) and complies with its guideline. Nevertheless, other applicable legislation are: the Companies and Allied Matters Act (CAMA), Nigerian Investment Promotion Commission Act (NIPC Act) and the Trade Marks Act.
Franchising involves many legal complexities like contractual agreements, trademark registrations, intellectual property rights, and dispute resolution mechanisms. It's necessary to ensure your legal protections are in place, whether you are a franchisee or franchisor. A lawyer can provide the needed legal advice, guide through the process and potential pitfalls, negotiate better terms and aid in dispute resolution process.
As mentioned, there is no specific franchising law in Owerri, Nigeria. However, the Companies and Allied Matters Act is applicable for business registration and operation. The Nigerian Investment Promotion Commission Act, applies regarding the allowance and monitoring of foreign and domestic investments, including franchises. In addition, Intellectual Property Law comes into play as franchising often involves the use of trademarks or copyrighted material.
The form of the agreement varies based on the parties involved. However, agreements in Nigeria typically contain provisions on fees, franchise location, system standards, advertising, intellectual property rights, duration, termination, and dispute resolution.
No, there are no restrictions on the payment of a franchise fee in Nigeria. The negotiated franchise fee is generally accepted and is a formal part of franchise agreements.
Yes. Provisions for termination are included within the franchise agreement. Typical grounds for termination would include breach of contract, bankruptcy or insolvency, or mutual agreement between the parties.
The franchise agreement generally includes its jurisdiction provision. This is typically Nigeria, but can be any other place mutually agreed upon by the parties.
No, there are no specific franchising laws in Nigeria. However, franchising arrangements are subject to a variety of contracting and commercial laws, company law, trademark laws and other legislation.
You can connect with the Nigerian Bar Association for any legal advice, the Nigerian Investment Promotion Commission for rules regarding foreign investment and the Corporate Affairs Commission regarding company registration. Franchising World is a platform where global franchise leaders meet and discuss franchising regulations, strategies and best practices.
If you're looking for legal help in franchising, consider reaching out to a lawyer who specializes in this field. Prepare relevant inquiries or data before your first consultation to streamline the process. Regular follow-ups with the lawyer and day-to-day understanding of the business and legal environment is also key for a successful franchise endeavour.
