Congratulations! You are on your way to owning and running your own business. Because your investment in a franchise will be substantial, including your time and resources, you must evaluate the Franchisor with an eye towards a very long partnership. This is why it is important to involve a Franchise Attorney from the very beginning. We can provide assistance with:
1. THE FRANCHISE DISCLOSURE DOCUMENT
2. THE FRANCHISE AGEEMENT, INCLUDING
Understanding the Franchise Agreement Comparison of Franchise Systems Negotiation of Franchise Terms
3. AND WITH OTHER BUSINESS MATTERS
THE FDD - All Franchisors are required by the Federal Trade Commission to provide you with a very detailed document called the Franchise Disclosure Document ("FDD"). This document contains all the details of the franchise and what you would have to do to be one of their franchisees.
THE FRANCHISE AGREEMENT - This Agreement is the actual contract between you and the franchisor. This document is written by the franchisor's attorney therefore it is usually very one sided.
We can help you
1) understand exactly what the terms contained in the Agreement mean,
2) help you compare terms to other franchises and
3) negotiate better terms.
UNDERSTANDING THE TERMS OF THE AGREEMENT - The Franchise Agreement is a very long and detailed contract. As experienced Franchise Attorneys we can help you understand what the terms mean and what significance they have on your operation of your business, including:
-Transfer abilities and restrictions
-Alternative Dispute Resolutions
-Intellectual Property rights
-Marketing abilities
-Rights and Remedies of Default
-Purchase and Updating Requirements
COMPARISON OF FRANCHISE SYSTEMS - As experienced Franchise Attorneys we can help you compare your prospective franchise system to others in the industry. We can help point out what terms are common place and which are outratgeous.
NEGOTIATION FOR BETTER TERMS - The franchisor's will tell you that their Franchise Agreement is non-negotiable, but that usually is not the actual case. We can help you negotiate terms such as: - Protected Territory - Renewal terms - Non-competition - Marketing abilities - Transfer abilities - Updating Requirements - Audit Expenses
OTHER BUSINESS MATTERS - Some Franchisor's give assistance to their franchisees in various legal matters in starting your franchise, but most will refer you to your own attorney. We can provide:
- Creation of your business entity whether it be a corporation, limited iaiblity company, or limited partnership;
- Creation of ownership agreements
- Review and negotiate leases
- Employee contracts and non-disclosure agreements
- Advise on other legal business issues
