Author- Uzma Fatima
About Franchise lawyer
A franchise lawyer is a lawyer who focuses on the rules and legislation that apply to new enterprises in general and franchising. Depending on where you live, there can be a particular franchise law firm with franchise attorneys that only practise federal and state franchise law. Though it is more probable that the firm would just be business-focused or that they will work with a franchise attorney who specialises in that area of law.
Although whichever franchise lawyer or firm you select won’t be allowed to have any link with your specific franchisor, a franchise lawyer is also likely to represent both franchisees (those purchasing a franchise) and franchisors (those selling a franchise).
A good franchise lawyer is involved in the franchise industry and keeps up with the constant adjustments to franchise legislation. Generally, every franchise attorney works on behalf of the franchisor as well as current and potential franchisees.
Three things a Franchise lawyer can help you with when buying a Franchise are:
1. Franchise lawyers carefully analyse the franchise agreements and disclosure documents.
Franchise lawyers do indeed read a lot of Franchise Disclosure Documents (FDDs). But did you realise that several franchise lawyers in today’s market also produce them? Having said that, you can expect that a knowledgeable franchise lawyer will be aware of what to search for.
In conclusion, when you employ a lawyer, you should anticipate receiving her opinion on the FDD and the franchise agreement as well as customised advice and counsel tailored to your particular circumstances.
2. Franchise lawyers can help you determine the best business entity for your franchise.
Franchise attorneys can assist you in choosing the optimal legal structure for your franchise. The primary responsibility of a franchise lawyer is to uphold your interests. They accomplish this in a variety of ways, one of which is by offering guidance and recommendations on the best entity for your franchise business. For instance, should you establish your franchise as a Limited Liability Company (LLC), Corporation, S-Corp, or Sole Proprietorship? If any legal issues arise while you are running your franchise business, operating under the appropriate entity can go a long way toward safeguarding you and your interests.
3. Your franchise lawyer can help you negotiate your commercial lease.
You can negotiate your commercial lease with the aid of your franchise attorney. If you’re purchasing a franchise that requires a physical site, a franchise lawyer will be of great value to you. Commercial leases are invariably complex legal agreements. Additionally, they are quite welcoming to landlords. Due to this and the fact that a commercial lease is a long-term financial (and legal) commitment, it is your responsibility to ensure that you fully comprehend your duties under the lease. You may navigate your lease and even bargain for better terms with the assistance of a capable franchise lawyer who is experienced with business leases. As was mentioned, an experienced franchise lawyer can advise you on your potential purchase of a franchise business.
