Advantages of Using a Franchise Attorney When Buying a Franchise
If you’re thinking about purchasing a franchise and starting a business then there are a lot of bases that need to be covered. Finding the right franchise, scouting a location, coming up with a business plan and scrutinizing all the other areas of the business are important – as is using a franchise attorney.
As you can guess, a franchise attorney is essentially a lawyer that specializes in dealing with cases involving franchising and franchise law. In short, they know all that there is to know about the legal side of buying a franchise – which is why it makes sense to use one. In particular, the advantages of using a franchise attorney include:
- Getting help going over the legal documents
When you purchase a franchise you’re going to have to go over several legal documents – including the Franchise Disclosure Document (FDD) and Franchise Agreement. Having a franchise lawyer help you go over both will ensure that you’re aware of any conditions and restrictions that are in place.
Because of the experience of a franchise attorney in dealing with such matters, they should be able to spot any areas that may be potential red flags.
- Obtaining advice on the type of business to register and licensing required
If it is your first time running a business, there are a lot of considerations to take into account – including the type of business you want to register and licensing that is necessary to run it. In both of those areas an established franchise law firm will be able to provide you with advice on the best way to go about it.
- Providing legal counsel if necessary
At some point or other you may need legal advice. It is something that many franchisees are unprepared for – but happens a lot more often than you think. Having a franchise attorney that you know and trust is going to definitely help you to sort out any claims, negotiations, or disputes that may arise.
In short, the benefits of having a franchise attorney encompass numerous different areas – but the one thing that should be clear is: If you’re purchasing a franchise, you need someone who is going to look out for your interests from a legal perspective. While some franchisers may tell you that you don’t really need one, the fact of the matter is that you should want one to protect yourself.