If you are looking to buy into a franchise or looking to franchise your business, you should seek independent legal advice from a franchise lawyer.
Not only can they help new franchisees and franchisors, they can also help existing franchisees and franchisors who need help with their current agreement or dispute that they need to resolve.
Why a specialised franchise lawyer?
It is important to obtain legal advice from a franchise lawyer. This is a niche area of commercial law and the legislation, including the franchising code of conduct, regularly changes. A lawyer who practises in franchising law will be able to make sure that your franchise agreement is compliant and can protect your best interests.
What does a franchise lawyer do?
- Draft and review franchise agreement documents.
- Review disclosure documents.
- General franchise advice (for both franchisors and franchisees).
- Systems advice (franchisor).
- Intellectual property.
- Providing mediation and franchise dispute management services.
How much does a franchise lawyer cost?
Specialist lawyers may charge more than general lawyers, but most franchise lawyers offer a fixed fee retainer for straightforward franchise work. It depends on the complexity of the manner.
In terms of disputes between franchisees and franchisors, if it looks like it is heading towards litigation, the fees would more than likely have to be paid as they are billed as you never know what happens in litigation.