Maine Franchise Forms

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Maine Franchise Forms FAQ

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 need to be filed when a business wants to become a corporation. These documents contain important information about the company, such as its name, address, purpose, and the number of shares it can issue. In Maine, the Articles of Incorporation should follow certain guidelines set by the state's Secretary of State office. These guidelines specify the required information and format for the document, ensuring legal compliance and transparency. By filing the Articles of Incorporation, businesses in Maine can gain legal recognition as a corporation, which can provide various benefits and protections for the company and its owners.


What to Include in Articles of Incorporation

Articles of Incorporation are an important document when forming a corporation in Maine. It serves as a legal foundation for the business. When putting together this document, it is crucial to include some essential information to ensure everything is in order. First, you need to clearly state the corporation's name and address, as well as the names and addresses of the initial directors. It is also necessary to define the purpose of the corporation, outlining the activities it plans to engage in. Additionally, you should include details about the stock structure and shares, specifying the number of authorized shares and their par value. Finally, you must designate a registered agent with a physical address in Maine where official documents and legal notices can be received. By including these key elements, you can ensure the validity and legality of your corporation in Maine.


1. Full Name of Corporation

The complete name of the corporation I am referring to is "Maine Business Solutions". This corporation operates and is headquartered in the state of Maine. They provide a range of services and solutions to businesses in the area, aiming to help them thrive and succeed. Maine Business Solutions focuses on understanding the specific needs and challenges that local companies face, assisting them with various aspects such as marketing, technology, and strategic planning. Their main goal is to support businesses in Maine, contributing to the growth and prosperity of the state's economy.


2. Principal Place of Business

The principal place of business refers to the main location where a company conducts its day-to-day operations and manages its affairs. In the context of Maine, this means the primary physical address or office of a business located within the state boundaries of Maine. It is where the company's core activities, such as administration, production, or customer service, are carried out. This central location helps establish a company's identity and serves as a hub for its employees, clients, and stakeholders. The principal place of business in Maine is crucial for legal and regulatory purposes, as it determines the jurisdiction in which the company primarily operates and ensures compliance with state laws and requirements.


12. Limitation of Director’s Liability

In Maine, there is a limitation on the liability of directors, which means that they are not personally responsible for all the debts and losses of the company. This protection allows directors to make decisions without the fear of being held personally liable for any negative consequences that may arise. However, it is important to note that this limitation of liability does not apply if a director acts in bad faith, engages in fraud, or breaches their fiduciary duty. In such cases, directors can still be held personally responsible for their actions. Overall, while directors in Maine have some protection from liability, they are expected to fulfill their responsibilities and act in the best interest of the company.