Who is the Franchisor, as defined in the Crown Gold Exchange General Release?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Goldmember, LLC, a Idaho limited liability company ("Crown Gold Franchising").
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Crown Gold Exchange Franchise Disclosure Document, the franchisor, as defined in the General Release form, is Goldmember, LLC, an Idaho limited liability company, which also operates under the name "Crown Gold Franchising."
The General Release is a standard form that Crown Gold Exchange may require franchisees to sign in specific circumstances, such as a franchise renewal or as a condition for approving the sale of a franchise. This release is not signed when initially purchasing the franchise.
This definition is important for prospective franchisees as it clarifies the legal entity they are dealing with when signing the General Release. Understanding the franchisor's legal name and structure can be crucial for legal and contractual purposes.