Mississippi Franchise Forms - Mississippi Legal Franchise

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Mississippi Franchise Forms FAQ Mississippi Franchise Sample

What is a franchise?

There is a definition of a franchise which has been developed by the Federal Trade Commission. Basically, a franchise involves an owner of a trademark, trade name and/or copyright giving others a license under certain conditions to use these trademarks, trade names or copyrights in providing goods or services to the public. The franchisor is the party who grants the franchise, and the franchisee is the party who receives the franchise.

What is the legal relationship between a franchisor and franchisee?

Technically, the relationship between a franchisor and franchisee is a relationship between two independent contractors. Their rights are determined by the franchise agreement. A franchise then is not a separate business entity, but is a business relationship between two separate business organizations such as a sole proprietorship, a corporation, or a partnership. The relationship between the franchisor and franchisee is controlled by the franchise contract. A corporation, sole proprietorship, or partnership may own the franchise contract or may be the entity entering into the franchise contract.

What laws govern franchises?

There are laws that restrict termination of some franchises. In some states, prior notice of termination is required. Owners of automobile dealership franchises are protected from termination of their dealerships in bad faith. This protection is provided by the Federal Automobile Dealers Franchise Act.


What are Articles of Incorporation?

Articles of Incorporation are legal documents that formally establish a corporation and outline important information about it. In Mississippi, the Articles of Incorporation must include the corporation's name, purpose, registered agent's name and address, and the number of authorized shares of stock. These documents are submitted to the Mississippi Secretary of State's office, along with a filing fee, to officially form a corporation in the state. They serve as the foundation for the corporation's structure and govern its operation.


What to Include in Articles of Incorporation

When creating Articles of Incorporation in Mississippi, there are a few essential things that must be included. Firstly, you need to provide a unique name for your corporation, which should end with a corporate identifier like "Company," "Corporation," or "Incorporated." Additionally, you must detail the purpose or nature of your corporation's business activities. It's also necessary to define the duration of your corporation, which is typically perpetual unless you specify otherwise. Furthermore, you should include information about the initial authorized shares and their par value. Lastly, it's crucial to provide the name, address, and signature of the incorporated(s) who are forming the corporation. By including these key details, your Articles of Incorporation in Mississippi can accurately establish your corporation and its operations.


1. Full Name of Corporation

The full name of the corporation (insert name here) in Mississippi represents the complete title or official identification of a company that is based or operates within the state of Mississippi. This designation ensures legal recognition and denotes the company's affiliation with the Mississippi jurisdiction, allowing it to conduct business activities within the geographical boundaries of the state. In simpler terms, it serves as a way to identify and distinguish the corporation, while also reflecting its connection to the state of Mississippi.


2. Principal Place of Business

The principal place of business is the main location where a company conducts its day-to-day operations. In Mississippi, this refers to the main office or facility where the company carries out its core activities, such as making products, providing services, or managing operations. It is the central hub where employees work together, customers may visit, and important decisions are made. The principal place of business is crucial for establishing the company's identity and is often the address listed on legal documents and business filings in the state of Mississippi.


12. Limitation of Director’s Liability

In Mississippi, there are limitations placed on the liability of directors, which means that directors of a company are not held responsible for all financial losses or legal issues that the company may face. Instead, their liability is limited to certain situations where they have acted negligently or engaged in fraudulent activities. This means that directors can feel more confident in making decisions for the company without the constant fear of being personally liable for any unfavorable outcomes. However, it is important for directors to still act responsibly and ethically in order to ensure the success and well-being of the company.