Licensees are different from franchisees. Licensees have a lot more freedom and flexibility in their marketing and operational activities. Platinum Accounting Australia (PAA) licensees are separate entities. They can develop their own branding for their bookkeeping services. Franchisees, on the other hand, need to follow the franchisor’s trademark and branding during day-to-day operations. PAA does not offer franchise model.

This agreement can last as long as the mutual financial benefits exit. There is no lock-in period. However, 60 days notice period, per Licensee Agreement, is required if the licensee decide to terminate the agreement.

Licensees provide one-stop accounting services to their clients. Clients interact with licensees only. Once clients come onboard, licensees will provide bookkeeping services and charge their own fees. Licensees do not need to share the bookkeeping revenue with Platinum. Platinum will deliver tax related services and share part of the revenue with the licensees.

No. A licensee must operate the business as a company. This means an applicant can only enter the agreement after the company is set up. It has, but not limited to, the following benefits:

• Licensees benefit from limited liability.
• Licensees’ interests are easier to transfer.
• The life of the corporation can extend beyond that of the founders.
• The life of the corporation can extend beyond that of the founders.
• Credibility is boosted in the eyes of clients.
• Financing and grants are easier to access.
• Tax rates are lower.

   

Yes, of course. We will provide you the Master Agreement for review after the initial meeting is completed.

PAA Licensing Agreement was prepared and has been updated regularly by FCW Lawyers. To change the contract terms, the applicant can instruct his or her own lawyer to propose the changes. Once PAA receives the proposed changes, PAA will pass it to FCW Lawyers for further discussion. Once both parties reach the agreement, the contract will be amended. Please note that the applicant will have to bear the legal costs associated with the amendment.

You can sell your business anytime. If the buyer would like to continue to be the licensee of Platinum, Platinum needs to assess the competence and credential of the potential buyer. If the buyer passes the assessment, the new agreement will be issued. If not, the old agreement will be terminated. For members of professional accounting bodies, such as CA or CPA, it is also recommended that you do a compliance check with your regulatory authorities before executing the transaction.