NAC645.027. “Franchise” defined.

“Franchise” means an agreement, whether expressed or implied, oral or written, between two or more persons by which:

     1. The holder is granted the right to engage in the business of offering, selling or distributing goods or services under a marketing plan or system prescribed in substantial part by the grantor;

     2. The operation of the holder’s business pursuant to such a plan or system is substantially associated with the grantor’s trademark, service mark, trade name, logotype, advertising or other commercial symbol which identifies the grantor or its affiliate; and

     3. The holder is required to pay, directly or indirectly, a fee for this right.

     [Real Estate Adv. Comm’n, § I subsec. 13, eff. 12-30-76]—(NAC A by Real Estate Comm’n, 8-21-81; 8-26-83)