What is the procedure for terminating a franchise agreement?

The procedure for terminating a franchise agreement in Wisconsin is generally outlined in the contract itself. Generally, either the franchisor or the franchisee can terminate the agreement. However, for a franchise to be terminated, certain steps must be taken by either party. First, the party wishing to terminate the agreement must give a written notice of their intention to do so. This notice should include the date of termination, as well as any other details related to the contract termination. Next, all franchise fees that have been paid must be refunded. This includes any fees paid for the use of a franchisor’s trademarks, service marks, and/or copyrights. If the franchise agreement has any other stipulations related to the termination, they must also be observed. Once the notice of termination has been given, the parties must meet to discuss the transfer of the franchise. This includes the transfer of any intellectual property, such as trademarks, service marks, or copyrights. During this meeting, the parties must also discuss any remaining financial obligations and the return of any goods and/or documents pertaining to the franchise. Finally, the parties must execute a document formally ending the franchise agreement. This document must detail what each party’s responsibilities are until the expiration of the agreement. It should also include any provisions for the return of any property and/or products that were purchased from the company that owns the franchise.

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What is the procedure for terminating a franchise agreement?

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