What is the procedure for renewing a franchise agreement?

In West Virginia, the procedure for renewing a franchise agreement depends on the terms of the original agreement. Generally, the agreement will specify the length of the franchise agreement and outline the process for renewal. At the end of the term, both parties should review the terms of the original agreement and decide whether to renew the contract. If both parties agree to renew, a new agreement should then be negotiated and signed by both parties. During this negotiation, the terms of the original agreement should be modified or adjusted according to the current needs of both parties. If both parties do not agree to renew the agreement, the franchisor may decide to offer a new agreement or not renew at all. In this situation, the franchisor must provide the franchisee with written notice of termination and may offer the franchisee a transition package to help with the termination process. In West Virginia, state law also requires that all franchise agreements be registered with the West Virginia Secretary of State, which must approve any modification to existing franchise agreements. Therefore, it is important for both parties to follow the proper procedure when renewing a franchise agreement.

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