Kentucky Franchise Forms - Kentucky Franchise Law

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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 a set of legal documents that establish a new corporation. They outline the basic information about the company, such as its name, purpose, and structure. In Kentucky, Articles of Incorporation must be filed with the Secretary of State's office to create a corporation. These documents are an important step in the formation process, as they provide the necessary information for the government and the public to understand the nature of the business.


What to Include in Articles of Incorporation

Articles of Incorporation are the legal documents required to establish a corporation in Kentucky. These documents are essential and outline important information about the corporation. In Kentucky, the Articles of Incorporation must include basic details like the corporation's name and address. Additionally, the purpose of the corporation should be clearly stated, as well as the number and type of shares it can issue. The Articles should also specify the duration of the corporation and the names and addresses of its initial directors. By including all these necessary elements, an entrepreneur can ensure that their corporation is properly formed and compliant with Kentucky's regulations.


1. Full Name of Corporation

The corporation's full name in Kentucky is the official and complete title of a business operating within the state's jurisdiction. It is the legally recognized name that identifies the corporation and distinguishes it from other entities. This name is registered with the appropriate state authorities and is used for purposes such as legal documentation, taxation, and general identification.


2. Principal Place of Business

The Principal Place of Business in Kentucky refers to the main location where a company or organization conducts its daily operations within the state of Kentucky. It is the central hub or headquarters where important decisions are made, employees work, and customers or clients are served. This location acts as the main physical address and serves as the primary base for the organization's activities within Kentucky. Whether it is a small local business or a large multinational corporation, the Principal Place of Business is vital for establishing a strong presence and conducting business effectively in the state.


12. Limitation of Director’s Liability

In Kentucky, there are certain limitations on the liability of directors. This means that directors are not personally liable for the debts and obligations of the company, unless they have engaged in fraudulent or wrongful actions. This protection allows directors to fulfill their duties without the fear of personal financial ruin. However, it is important for directors to act in good faith and with care, as any intentional wrongdoing can result in personal liability. It is also crucial for directors to fulfill their fiduciary duties and act in the best interests of the company and its shareholders. Overall, while directors in Kentucky have limitations on their liability, they must still exercise caution and responsibility in their roles.