New Hampshire Franchise Forms - New Hampshire Franchise Law
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New Hampshire 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.
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What are Articles of Incorporation?
Articles of Incorporation are legal documents that are filed with the state when establishing a corporation. They outline important details about the company like its name, address, purpose, and the number of authorized shares. In New Hampshire, the Articles of Incorporation need to include additional information such as the names and addresses of the initial directors and the name and address of the registered agent. These articles help to create a legal framework for the corporation to operate within the state and protect the rights and responsibilities of the company and its shareholders. It's important to understand and follow the guidelines laid out in the Articles of Incorporation to ensure compliance with New Hampshire's laws and regulations.
What to Include in Articles of Incorporation
When creating Articles of Incorporation for your business in New Hampshire, it's essential to include certain information to make sure you're following the state's requirements. These documents should first state the name of your corporation, which needs to include terms like "corporation," "company," or "incorporated." The location of your business's registered office and the name and address of its registered agent should also be included. You'll also need to state the purpose of your corporation, which can be general or specific. Additionally, it's important to include details about the initial number of shares the corporation is authorized to issue, its classes, and par value if applicable. Finally, the names and addresses of your initial directors or incorporates should be stated. By including all these elements in your Articles of Incorporation, you can ensure compliance with state regulations.
1. Full Name of Corporation
The corporation's full name is ABC Manufacturing Company based in New Hampshire. We are a company that specializes in manufacturing various products. Our team is dedicated to producing high-quality goods that meet the needs and expectations of our customers. Being located in New Hampshire allows us to take advantage of the state's favorable business environment and access to skilled workforce. We are proud to be a part of this vibrant community and look forward to continuing to serve our customers with excellence.
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 makes important decisions. In New Hampshire, this could be a physical office or facility where the company's employees work and where customers or clients can interact with the business. It is the central hub from which the company operates and manages its various activities such as production, sales, marketing, and administration. Having a well-established and accessible principal place of business is crucial for maintaining efficient operations and building trust with customers in the state of New Hampshire.
12. Limitation of Director’s Liability
In New Hampshire, there are limitations placed on the liability of directors. This means that directors of a company are not personally responsible for all the debts and obligations of the company. They are protected from being personally sued or held financially accountable if the company faces financial difficulties or legal issues. However, it is important to note that this limitation of liability is not absolute. Directors can still be held accountable if they engage in fraudulent or illegal activities, act in bad faith, or fail to fulfill their fiduciary duties.
