This agreement may be renewed by mutual agreement between the two parties, unless, in accordance with the agreement, it is extended by the payment of a renewal fee …. “franchise”. This agreement allows an organization to lend its intellectual property in order to help you run business under the same brand name under all conditions. The applicability of this mandate to sub-franchises is also determined on the basis of the franchise agreement. It should be noted that common law principles are applicable to the proposed contractual relationships. In a franchise, a franchisee cannot depend on the franchisee for financial assistance. So make sure that the franchisee you give your franchise to is in good financial health to manage the business. .