factual

For Afuri Ramen Dumpling, who is included in the definition of 'Interested Party(ies)'?

Afuri_Ramen_Dumpling Franchise · 2024 FDD

Answer from 2024 FDD Document

  • A. For purposes of this Agreement "you" may include an individual, corporation, partnership, limited liability company or other legal entity. "You" includes any corporation, partnership, limited liability company, individual, combination of individuals, or other legal entity that owns a majority interest of you, or in which you own a majority interest. The term "you" will include all persons who succeed to your interest by transfer or by operation of law.

Source: Item 23 — Receipts (FDD pages 50–189)

What This Means (2024 FDD)

Based on the 2024 Franchise Disclosure Document, the definition of "you" in the Afuri Ramen Dumpling franchise agreement extends beyond just the individual franchisee. It encompasses various entities and individuals associated with the franchisee's business structure.

Specifically, "you" can refer to an individual, a corporation, a partnership, a limited liability company, or any other legal entity that enters into the agreement. This definition also includes any corporation, partnership, limited liability company, individual, or combination of individuals that owns a majority interest in the franchisee's business. Conversely, it also covers situations where the franchisee owns a majority interest in another entity.

Furthermore, the term "you" includes all persons who legally inherit or succeed to the franchisee's interest, whether through a transfer of ownership or by operation of law. This broad definition ensures that the obligations and responsibilities outlined in the franchise agreement apply not only to the original franchisee but also to any successor or controlling entity, maintaining the integrity and standards of the Afuri Ramen Dumpling franchise system.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.