How a Franchise Attorney Can Help Take Your Business to the Next Level
Franchising your business can offer tremendous opportunities to grow and develop the value of your brand – provided you have an experienced attorney . Get started with a basic rundown of what franchising entails and how a firm can serve you.
Getting StartedEvery franchise began as a single business that became successful enough to be scaled up across many different locations. Thus, before franchising your business, you must ensure it is currently operating effectively and offers a proven model that can be duplicated by others. A Franchise Attorney will closely examine your business to determine whether it is viable for franchising. Fortunately, we offer a myriad of legal services that enhance and protect businesses of all sizes.
Protect Your Intellectual PropertyMuch of the value of your franchise will derive from your intellectual property * the name, logo, slogan, and other novel aspects of your business that help it stand out and attract clients. Failing to legally protect these core elements of your brand will undercut your ability to launch a viable franchise. The best way to secure your intellectual property is to register your trademark with the U.S. Patent and Trademark Office. This will protect it from imitators across the country, which is ideal if you plan to go nationwide with your franchising. Registering your trademark with the federal government will require many procedures and paperwork, all of which we are equipped to handle efficiently and expeditiously.
Draft a Franchise Disclosure DocumentFederal law requires that franchises create a Franchise Disclosure Document (FDD), which explains in detail what you will be offering to franchisees. The FDD is required to contain the following:
- Background information about your business, including any affiliates, predecessors, and/or parents
- Regulations specific to your business sector
- Major competitors in the industry
- Biographies and work histories of your management team
- Bankruptcy and litigation history of your company and management team
- Franchise fees, royalties, and other fees payable to you as the franchisor
- Estimated costs of starting the franchise
These are just some of the nearly two dozen items required by federal law in your FDD. Additionally, the document must be written as clearly and unambiguously as possible, though even if this were not required, it is in your best interests to have an FDD that is specific, detailed, and comprehensive about what you are offering. A proper FDD will be the foundation of your franchise for years to come, so it is imperative to hire an attorney who specializes in these documents and know how to ensure that they are both legally compliant and airtight.
Create a Franchise AgreementThis is the contract that governs your relationship with franchisees and includes each party*s legal obligations, the terms and conditions of the franchise, and how to resolve any disputes that may emerge in the future. Like an FDD, your franchise agreement with be the cornerstone of your franchising endeavor, and should thus be written with the utmost clarity, as any errors or omissions could lead to future issues and litigation. That is why a franchise attorneys apply meticulous attention to detail in the drafting every franchise agreement. We will work closely with you to ensure that the agreement meets both the needs of your franchise and the law.