Oklahoma Franchise Forms - Oklahoma Franchise Form
We offer thousands of Franchise forms. Some of the forms offered are listed by area below. For others, please use our search engine.
Oklahoma Franchise Forms FAQ Oklahoma Franchise Document
What is a franchise?
There is a definition of a franchise which has been developed by the Federal Trade Commission. Basically, a franchise involves an owner of a trademark, trade name and/or copyright giving others a license under certain conditions to use these trademarks, trade names or copyrights in providing goods or services to the public. The franchisor is the party who grants the franchise, and the franchisee is the party who receives the franchise.
What is the legal relationship between a franchisor and franchisee?
Technically, the relationship between a franchisor and franchisee is a relationship between two independent contractors. Their rights are determined by the franchise agreement. A franchise then is not a separate business entity, but is a business relationship between two separate business organizations such as a sole proprietorship, a corporation, or a partnership. The relationship between the franchisor and franchisee is controlled by the franchise contract. A corporation, sole proprietorship, or partnership may own the franchise contract or may be the entity entering into the franchise contract.
What laws govern franchises?
There are laws that restrict termination of some franchises. In some states, prior notice of termination is required. Owners of automobile dealership franchises are protected from termination of their dealerships in bad faith. This protection is provided by the Federal Automobile Dealers Franchise Act.
Easy Order
What are Articles of Incorporation?
Articles of incorporation are legal documents that are filed when starting a corporation. In Oklahoma, these articles outline important information about the corporation, such as its name, purpose, structure, and business activities. They also include details about the company's stock, its registered agent, and the duration of the corporation. These articles serve as a foundation for the corporation's existence, helping to establish its rights, obligations, and legal status within the state of Oklahoma.
What to Include in Articles of Incorporation
When drafting articles of incorporation specifically for Oklahoma, it's important to include certain key information. Begin by clearly stating the desired name of the corporation, making sure to add "Corporation," "Company," or an appropriate abbreviation at the end. You should also mention the purpose for which the corporation is being created, including any specific activities it intends to engage in. Be sure to include a provision stating the corporation's initial registered office address and its registered agent's name and address. Additionally, you must specify the number and type of shares the corporation is authorized to issue, as well as the par value of each share. It's also common to include provisions concerning the governance of the corporation, such as details about directors and officers. Finally, don't forget to include the name and address of each incorporated.
1. Full Name of Corporation
The full name of the corporation in Oklahoma is the complete legal name of the company that is registered and operates within the state of Oklahoma. It is the name under which the corporation is recognized and conducts its business activities. It is important for a corporation to have a full name in order to establish its identity and distinguish itself from other businesses. The full name of a corporation in Oklahoma is used for various legal and administrative purposes, including contracts, licenses, and official documentation.
2. Principal Place of Business
The Principal Place of Business refers to the main location or headquarters where a company carries out most of its operations and management tasks. In the context of Oklahoma, it means the primary physical address of a business in the state. This could be a specific building, office, or facility where the company conducts its day-to-day activities and holds important meetings. Having a Principal Place of Business in Oklahoma signifies that the company has a strong presence and significant presence in the state, which could have various advantages such as access to local resources, a connection with the community, and compliance with state regulations.
12. Limitation of Director’s Liability
In Oklahoma, there are limitations placed on a director's liability. This means that directors of a company are not personally responsible for all the debts and obligations of the company. Instead, their liability is limited to certain situations, such as when they act in a fraudulent or dishonest manner. This provides protection for directors so that they are not unfairly held accountable for actions taken by the company. It is important for directors to understand these limitations and to act in a responsible and ethical manner to avoid any personal liability.
