Why do I Need a Franchise Lawyer?
Posted on October 27, 2010 by My Franchise Law
Having an experienced franchise lawyer, along with a trained accountant, is the best way to make sure that a franchise contract is going to favor you. They are keys to looking out for your best interests when making a franchise business transaction, and can alert you to any problems within the contract or finances of your chosen franchise business.
Your franchise lawyer will be able to help you go through all of the information provided by the franchisor in the Franchise Disclosure Document, as well as look over the lease agreement for any business location you have chosen. They can help you negotiate the initial franchise agreement to get you the most favorable terms possible, and can also point out and help you resolve any problems within the contract. Though some franchisees may see lawyer’s fees as an unnecessary expense when they’re already spending so much money to get their franchise business off the ground, a franchise lawyer can actually protect them from costly contractual loopholes that could lead to large expenditures down the line.
When deciding upon a franchise lawyer, it’s important to make sure they have a proven track record in the franchise industry, so that they will know what to look for when reviewing your franchise contract. By dealing with a lawyer with vast franchise law experience, you can be assured of a solid background in what is standard within a contract. They will know why certain terms are in an agreement, and whether certain terms are unusual and should be questioned before signing. Keep in mind that franchise law can differ from state to state, so it is important to choose someone with experience within your particular franchise business area so that you get the best advice to suit your specific needs.