According to the 2025 Christies International Real Estate Franchise Disclosure Document, the term 'affiliate' has several significant meanings for franchisees. Firstly, Christies International Real Estate licensees are referred to as 'Affiliates,' which essentially means they are independent businesses operating under the Christies International Real Estate brand. These affiliates operate under license agreements, sometimes designated as 'Participating Broker Agreements' (PBAs), especially if they commenced operations before December 1, 2021. For the purposes of the FDD, the terms 'Affiliates,' 'franchisees,' and 'franchised outlets' are used interchangeably.

Secondly, the FDD defines 'affiliate' (lowercase) as an entity controlled by or under common control with another entity. This definition is crucial for understanding the broader corporate structure and relationships within the Christies International Real Estate network. The Broker Affiliate License Agreement outlines the relationship between Christie's International Real Estate, LLC (the licensor) and the affiliate, detailing the rights and responsibilities of both parties.

Finally, Christies International Real Estate reserves specific rights for itself and its affiliates, including the right to operate and franchise businesses outside the franchisee's protected territory. This reservation means that while franchisees are granted a protected territory, Christies International Real Estate and its affiliates can still engage in various business activities, including online operations, without compensating the franchisee. Franchisees should be aware of these reserved rights, as they can impact their business operations and market reach.