Hiring a franchise ownership lawyer is important but before jumping on the hunt of franchise solicitors, you are supposed to do some of the research by yourself as well. You should first realize what your top business skills are. The next step is to find a franchise which is suitable with those skills. Then your task will be to do a complete research about the company and visit their headquarters to get the deal on track. Once these things are done and the deal with the franchise is on final stages then will be the apt time to call the franchise lawyer.
Why do you need them?
There are a lot of things mentioned in a disclosure documents. To begin with, the documents contain the ownership history of the franchise like the names of the previous and current owners and their affiliates. The list then follows their business experience, the bankruptcy information, franchise fee, initial investment, the obligations to be fulfilled from the side of franchisor and franchisee, the patents and copyright information, the restrictions on the type of products that the franchise is entitled to make sales of and lastly the financial information of the company. These things require a thorough inspection for which you can take the assistance of a franchise solicitor.
There have been a few cases in the Australian courts recently with verdicts that have a lot of bearing on the future of the franchise industry and its mechanism of working. The ‘Ketchell Case’ of 1998 which brought to focus the need for necessary certification for franchises was the first of its kind, and franchise lawyers and business persons are eager to see how the future of the sector will shape up.