Definition of Franchise Agreement
Generally, an agreement between a supplier of a product or service or an owner of a desired trademark or copyright (franchisor), and a reseller (franchisee) under which the franchisee agrees to sell the franchisor’s product or service or to do business under the franchisor’s name. State and federal laws regulate the content of franchise agreements.
That's the definition of Franchise Agreement in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.