Nebraska Franchise Forms - Nebraska Franchise Agreement

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Nebraska 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 establish a corporation's existence and outline important details about the business. In Nebraska, the Articles of Incorporation provide information such as the corporation's name, purpose, duration, and registered office address. They also include details about the initial board of directors and the class and number of shares the corporation is authorized to issue. By filing these articles with the Nebraska Secretary of State, the corporation becomes a distinct legal entity separate from its owners, offering various benefits such as limited liability and perpetual existence.


What to Include in Articles of Incorporation

When preparing the Articles of Incorporation in Nebraska, it's important to include some key details. First, you should mention the name of the corporation, which has to be unique and not identical or confusingly similar to any existing entities. Additionally, you must state the purpose of the corporation, explaining the activities it intends to engage in. It's important to include the registered office address and the name and address of the initial registered agent. You should also state the number of authorized shares and their par value, if any. Finally, the Articles of Incorporation should be signed by the incorporated and may include any additional provisions the corporation deems necessary for its operation. By including these elements, you can ensure your Articles of Incorporation are complete and in compliance with Nebraska regulations.


1. Full Name of Corporation

The full name of the corporation is a combination of a few words to identify a specific business organization in the state of Nebraska. This name is given to a company that operates and conducts its business activities within the geographical borders of Nebraska. The corporation's name being mentioned alongside Nebraska signifies that it is registered and recognized by the state as a legally established entity.


2. Principal Place of Business

The Principal Place of Business in Nebraska refers to the main location where a company conducts its operations in the state of Nebraska. It is the central hub or headquarters of the company, where most of its significant activities take place. This location serves as a base for various functions, including administration, management, decision-making, and day-to-day operations. It is where employees work, customers may visit, and important business meetings and collaborations occur. The Principal Place of Business in Nebraska plays a crucial role in the overall success and growth of a company, as it provides a sense of stability and identity while ensuring efficient functioning within the state.


12. Limitation of Director’s Liability

In Nebraska, there are certain limitations on the liability of directors. This means that directors of companies are not personally responsible for certain actions or decisions made on behalf of the company. Instead, the liability is limited to the extent allowed by law. This protection is put in place to encourage individuals to serve as directors without the fear of facing excessive personal liability. However, it's important to note that these limitations on liability do not apply in cases of fraud, illegal activities, or breaches of fiduciary duty. Directors must still act in good faith and in the best interest of the company to avoid any potential legal consequences.