What is the definition of 'Business' in the context of Christies International Real Estate's Right of First Refusal?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
AGREEMENTS
NOW, THEREFORE, for value received, you and we ("the Parties") agree as follows:
1. GRANT
- 1.1. Grant. Subject to the provisions contained in this Agreement, including all exhibits and related documents, and Operations Manual, we grant you a non-exclusive license to own and operate a CHRISTIE'S INTERNATIONAL REAL ESTATE business (the "Business"). The physical address of your Business ("Main Office") must be located within the Protected Territory and approved by us in writing before you can begin to operate your Business. Your Main Office and the Protected Territory are identified in Exhibit 1 to this Agreement. You may not relocate your Main Office without our prior written consent, as described in Section 5.2 of this Agreement.
- 1.2 Nature of the Protected Territory. Except as described below, and except as modified by Exhibit 1 (if applicable), neither we nor our affiliates will establish and operate, or grant licenses or franchises to others to establish and operate a CHRISTIE'S INTERNATIONAL REAL ESTATE business within the Protected Territory during the term of this Agreement, so long as you are in compliance with this Agreement. The license granted to you under this Agreement is personal in nature and shall only be used from the Main Office and any Additional Office authorized by us. Notwithstanding the preceding sentence, and subject to the terms of this Agreement, you shall have the right to offer and sell real estate brokerage services identified by the Marks through any other channels of distribution, including the Internet but excluding the metaverse. We reserve, maintain, and control all rights with respect to said metaverse. As used herein, "metaverse" means any 3D virtual space powered by technologies – including virtual reality, augmented reality, artificial intelligence, the Internet of Things, and blockchain – that allows people to interact with each other and to have lifelike experiences online. The rights granted under this Agreement are subject to the limitations set forth in the Operations Manual or as we otherwise periodically prescribe, which may include certain territorial policies that we establish or modify from time to time. You may not establish or operate any CHRISTIE'S INTERNATIONAL REAL ESTATE office outside the Protected Territory, unless we permit you to do so under a separate broker Affiliate license agreement. You may not subfranchise or sublicense any of your rights under this Agreement.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, Christies International Real Estate grants franchisees a non-exclusive license to operate a Christies International Real Estate business, referred to as "the Business." This business must operate from a Main Office within a Protected Territory, both of which are specified in Exhibit 1 of the agreement and require the franchisor's written approval before operations can begin. The franchisee is not allowed to relocate the Main Office without prior written consent from Christies International Real Estate, as detailed in Section 5.2 of the agreement.
The license granted to the franchisee is personal and limited to the Main Office and any Additional Offices authorized by Christies International Real Estate. However, franchisees have the right to offer and sell real estate brokerage services identified by the Marks through other channels of distribution, including the Internet, but excluding the metaverse. Christies International Real Estate retains all rights related to the metaverse, defined as any 3D virtual space powered by technologies like virtual reality, augmented reality, artificial intelligence, the Internet of Things, and blockchain, which allows people to interact and have lifelike experiences online.
The rights granted to the franchisee are subject to limitations set forth in the Operations Manual or as periodically prescribed by Christies International Real Estate, including territorial policies that may be established or modified. Franchisees cannot establish or operate any Christies International Real Estate office outside the Protected Territory unless permitted under a separate broker Affiliate license agreement, and they are prohibited from subfranchising or sublicensing any rights under the agreement. This framework ensures that Christies International Real Estate maintains control over its brand and market presence while allowing franchisees to operate within defined boundaries and guidelines.