What is the definition of a "franchise" in the State of New Jersey?
A: Pursuant to New Jersey law (NJ Stat Section 56:10-3) a "franchise" is defined as a "written agreement for a definite or indefinite period, in which a person grants to another person a license to use a tradename, trademark, service mark or related characteristics, and in which there is a community of interest in the marketing of goods or services at wholesale, retail, by lease, agreement or otherwise".
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