Find Franchising Attorney By Valerie Brooks
Owning your own business is exciting, and it's easy to get caught up in the thrill of it all. However, hiring a franchise attorney should be among your first moves. Your attorney will be able to help you through the process of obtaining the franchise, explaining the franchise agreement to you, negotiating on your behalf with the franchisor, and sorting through all the franchise laws in order to set you up in your new venture.
What is a Franchise?
A franchise is a legal relationship between the owner of a business name or trademark and a separate business owner who wishes to use that franchised name or trademark to sell products or operate a service. Franchises are much more likely to succeed than newly-formed, independent businesses because the parent company already has a name and reputation with the public, and the franchise can follow that success.
The Role of a Franchise Attorney
After you decide which type of franchise you'd like to operate, you should contact a franchise law attorney. It doesn't matter if you'll be opening an ice cream shop or a clothing store. An attorney who specializes in franchise law will assist you in all areas of setting up your new business. Even if you are currently a business owner, there are still business laws you may be unfamiliar with, and your attorney will help you navigate them.
He or she will likely charge a flat fee for reviewing your proposed franchise agreement. Depending on the complexity of the agreement and the analysis provided, it will typically cost about $1,000. Then, the attorney will either charge an hourly rate for further assistance or a flat fee per each additional service.
You should also expect the following from a franchise attorney:
He or she will examine documents and offer professional analyses on them.
Explain unfamiliar legal terminology.
Offer useful information about your choice of franchise, including pros and cons.
Carefully examine contracts, leases, and transfer agreements, and make sure you understand all ramifications.
Help determine if the franchise is in your best interest and detect franchise scams.
Protect your interests in the business deal.
Hiring a Franchise Attorney
Be as prepared as possible when meeting with your attorney -- this can save you time and money. Thoroughly research the franchise company before meeting with your attorney. Make sure this is a company in which you are seriously interested. Once you involve the attorney, costs will be incurred. But before you hire the attorney, make sure that you:
Choose an attorney specializing in franchise agreements.
Find out if the franchisor is open to possible changes in the franchise agreement before seeing your attorney. If he or she is not amenable to this, it is a waste of time and money to have your attorney write amendments to the agreement.
Ask the prospective attorney what the estimated cost will be to review the documents. This can save you surprises on unexpected fees.
Keep in mind that it is not your attorney's job to convince you to start a franchise. In fact, an adept franchise attorney will point out areas of concern and leave the final decision in your hands.
Additional Legal Services:
Nationwide Find an Attorney Services:
American Bar Association
Service Center
321 North Clark Street
Chicago, IL 60610
800-285-2221
Martindale-Hubbell
121 Chanlon Road
New Providence, NJ 07974
800-526-4902 ext. 8001