For many people, opening a franchise is a great way to become a business owner. You don’t have to worry about building a brand or finding a customer base in the same way as businesses starting off on their own. Franchises are a complicated business deals though, so having the right franchise lawyer on your side can make all the difference. Here are just a few ways a lawyer knowledgeable in franchise law can help you.
Establishing a Franchise
Whenever a franchise is established, the franchisee must enter into an agreement with the franchisor. The franchise agreement will be particular to the industry and type of franchise, and needs to be reviewed carefully and possibly negotiated. If negotiations are needed, a skilled and experienced franchise lawyer will be invaluable. A lawyer should also be able to help negotiate the lease of commercial real estate.
Franchise Disclosure Document (FDD)
This document, formerly known as a Uniform Franchise Offering Circular, includes information on the franchise, and must be made available to prospective franchisees by law. History and financial information on the franchise, relevant past and current litigation, fees and other information is all included in the FDD. A franchisee can help you review the FDD and understand what is contained in it, as well as point out any worrying aspects that may affect your decision.
Are You a Franchise?
If you aren’t well versed in franchise law, your business may be within the bounds of franchise law without even knowing it. The right lawyer will be able to help register your business as a franchisor so you can start selling franchises.
Contact The Law Offices of Kirk Halpin & Associates, P.A. Today
Practicing together in Howard County since 2004 – first in Columbia and now in Clarksville, The Law Offices of Kirk Halpin & Associates, P.A., is here to help with a variety of business, real estate and finance law issues. We have a long list of practice areas, a long list of industries served, and a long list of success stories and recommendations in helping businesses, no matter the size, grow, reach their goals, and surpass them. If you’re seeking counsel on a business, real estate or finance law issue, always feel free to contact us via our contact page or call us at (410) 531-1700. While you are here, remember to follow us on Facebook, Twitter, Google+, and LinkedIn to stay up to date with our blog and the latest happenings at our firm.