Franchise
Summary of Franchise
A provision in a marine cargo policy that partial losses will be adjusted if the loss exceeds a certain percentage of the total value of the shipment. A clause providing “with average if amounting to 3 percent,”for example, would oblige the underwriter to settle a partial-loss claim without a deductible if the claim exceeded 3 percent of the insured value of the shipment; losses under that amount would not be covered. As used in the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, an adjustment in the Monetary Compensation Amount. See Green Rate.
(Main Author: William J. Miller)
Extending a Franchise to the Internet through Licensing and the Electronic Commerce
Extending a Franchise to the Internet through Licensing in the Online Business Law
Resources
See Also
- PPC Advertising
- Social Networking
- Online Business Law
- Internet Law
- Spam
- Startups
- Internet Tax
- Crossborder Commerce
- Technology Law
- Terms of Use