Counsel to franchisors are required to possess deep familiarity with the laws governing franchising: federal and state registration, disclosure and “relationship” laws; antitrust law; trademark law; the law of contracts; advertising law; labor law; tort law (especially with respect to “vicarious liability”); and, for financings and securitizations, securities and related laws. And, of course, all decisional law regarding these subjects.
However, very often counsel are asked fundamental questions posed by clients thinking of franchising their businesses, questions not related to law but to business: Should I franchise my business? What are the considerations for doing so? What legal and other documents will I need? As franchise counsel, we must be prepared to respond to these questions and amass the body of knowledge needed to do so. Let us try to review the basics in today’s column and the column to follow.
Franchising Business Model
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