Missouri Franchise Forms - Missouri Franchise Agreement
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Missouri Franchise Forms FAQ Missouri Franchise Business
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.
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What are Articles of Incorporation?
Articles of Incorporation are an essential legal document that establishes a corporation in Missouri. They lay out important information like the company's name, purpose, registered agent, and the names of its initial directors. These articles act as a set of rules and guidelines that the corporation must follow, ensuring transparency and accountability. They provide a legal framework for the corporation's operations and protect its status as a separate entity from the owners. Articles of Incorporation are vital in helping to define and govern the corporation's existence, making them an important part of starting a business in Missouri.
What to Include in Articles of Incorporation
When creating the Articles of Incorporation in Missouri, it's important to include certain information to formally establish your company. Firstly, you need to provide the name of your corporation, which must be unique and not already in use. Additionally, you should mention the purpose of your corporation, explaining the main activities it will engage in. It is also necessary to outline the registered office and the name of a registered agent, who will receive legal documents on behalf of the company. You should include the initial number of authorized shares and their par value, if applicable. Furthermore, it is recommended to include the names and addresses of your initial directors and the names and addresses of the incorporates who are creating the company. Finally, you'll need to sign and date the document, ensuring it is properly notarized. By including all this information in your Articles of Incorporation, you are taking the necessary steps to form your corporation in the state of Missouri.
1. Full Name of Corporation
The full name of the corporation, let's call it "Smith Manufacturing Company," is a business operating in the state of Missouri. They are a company that produces and sells various products. Their headquarters or main office is located in Missouri, where they manage all their operations and make important business decisions. They abide by the laws and regulations set by the state of Missouri and conduct all their business activities within the state.
2. Principal Place of Business
The principal place of business refers to the main physical location from where a business operates. In Missouri, this would be the primary address where the majority of a company's activities take place. It could be an office building, a storefront, or any other fixed location where employees are based and where customers can interact with the business. The principal place of business in Missouri is essential for legal and tax purposes, as it determines the jurisdiction in which the company is registered and where it is subject to state laws and regulations.
12. Limitation of Director’s Liability
In Missouri, there is a limitation on the liability of directors, which means that they are not personally responsible for all the actions and decisions of the company. This helps protect directors from being held personally accountable for any mistakes or wrongdoings of the company. However, it is important to note that this limitation is not absolute and directors can still be held liable in certain situations. For example, if a director engages in fraud, commits a crime, or breaches their fiduciary duty, they can still be held personally liable. Therefore, while the directors of a company in Missouri may have some protection from liability, they still need to act responsibly and fulfill their duties to avoid any potential legal consequences.
