The franchise lawyer is a person whose main practice is law. These lawyers will help people who are interested in making the investment. Different kinds of legal services that are offered by this law include reviewing disclosure documents, negotiating franchise contracts, and negotiating lease for an ultimate retail location.
Second type of lawyers is one who helps the companies who want to expand or sell franchises for the business model. The attorney of this kind generally drafts the franchise disclosure documents, agreement & registration applications. There’re many states where lawyer has to file the registration application before a company will offer and sell franchises in such states.
Finding the right franchise lawyer
Using the lawyer early in this process is always best, no matter whether you’re thinking of buying the franchise or franchising the business. However, with a franchise it is very important to be a bit savvy and selective. Find the franchise attorney who, besides the law degree as well has the MBA and you have narrowed down the field to a very few. It is surprisingly simple to do.
Questions to Ask to a Franchise Lawyer
- How many Disclosure Documents (called franchise circulars) they have reviewed and drafted?
- Is law practice devoted exclusively to law – or how long they have been practicing the law exclusively?
- What is lawyer’s experience of representing the franchise companies? Have they represent individuals who are looking to buy the franchise?
- What is lawyer’s experience of filing the franchise registrations or dealing with the state examiners in different franchise registration states and what about in business opportunity states?
- Besides law degree, does an attorney lawyer have MBA? Like mentioned, it is helpful to suggest in both the legal and business aspects of this industry.
- Does a lawyer have any experience of owning & operating the franchise? Was it the successful franchise? So, knowing both the sides of fence will be a great asset.
Membership in the franchise committee and association just means an attorney lawyer pays yearly membership fee. There’s no prior skill required in law and many members join just to learn about the subjects they do not know well.