Franchise News

Franchise Information for Successful Business Ownership

A franchise is lawyer is basically like any other lawyer, who practises law. These lawyers help companies and individuals interested in investing money. They offer a variety of legal services including making negotiations regarding franchise contracts, going through the relevant documents and also other services such as negotiations for leasing locations for the franchise. Their charges range between approximately $300 to $800 per hour. Other kinds of franchise lawyers include those who help the companies expand their businesses and sell franchises for future expansion. Such a lawyer basically develops the relevant documents which would be required for review by the prospective franchisee, the contract and also other applications. In the United States, a company planning to franchise its products and services is required under the law in 14 states to hire a franchise lawyer to file the registration documents before the company auctions its franchises in those states. Apart from these states, another 24 states require the franchise lawyers to comply by their respective business opportunity laws before the company can sell franchises in those states. It is a great idea to avail the services of a franchise lawyer if you are considering to buy or avail a franchise opportunity or if you are a company representative whose company is planning to sell its franchises. When hiring a lawyer, you need to take into a few important factors during the selection process. Search for a lawyer who also holds an MBA degree in finance apart from his law degree, in order to narrow down your search. Finding such a lawyer will not be such a difficult task, and you can start by initiating your search over the internet, for a lawyer who specializes in franchising. Such a lawyer basically has a very good understanding of the commercial and legal issues, which are both related to the franchising industry. When searching for a lawyer, also consider other points such as his experience, and it would be a better idea to hire a lawyer who has also owned a franchise at one point. Hiring a lawyer is highly recommended especially if you are planning to either purchase or sell a franchise for the first time, since his practical experience will come in very helpful, since he has a lot of insight regarding legal and business issues, especially those related to franchising. When you have found the lawyer who meets the above criterion, ask him questions regarding his experience as an exclusive franchise lawyer and request him to make available a sample of a case that he might have handled. You will be in a better position to judge whether the lawyer would be great in your case or not by following these steps.