19. What happens to license and franchise agreements in a General Assignment?
Generally, license and franchise agreements have provisions that prohibit their transfer, except upon the consent of the franchise or license holder
To accomplish a transfer of a license or franchise agreement through an ABC, the prior written consent of the license holder or franchisor is required
If the sale of the franchise or license agreement is arranged prior to the making of the ABC, it is our experience that franchisor or license holders will consent to the ABC and the transfer of the license to a third-party buyer
