What is the legal definition of a franchise?
Nigeria does not have a specific franchise law and, as such, there is no legal definition of a franchise. However, the Nigerian International Franchising Association defines franchising as a business arrangement whereby the franchisor grants the franchise operator (the “franchisee”) the right to distribute certain products or services in a particular way, at a particular location and for specified periods of time. In return, the franchisee pays the franchisor fees and royalties.