One of the most common mistakes franchisers make when negotiating a deal with their franchisee is not understanding the terms of the contract. This is only one costly pitfall that could have serious consequences for a franchise owner.
Common mistakes made by franchisers include:
- Not understanding the term “full disclosure”
- Negotiating a deal that is too long
- Negotiating without an attorney
- Negotiating without a written contract
Why Hire A Lawyer?
Franchisers often forget to include all terms of the agreement in order for it to be enforceable. There are times when a franchiser may not include one or two particular terms, forgetting that omission will render their agreement invalid, which is why it’s important to have a contract drafted by a franchise lawyer.
Franchising law firms employ lawyers who specialize in providing legal advice to franchisors, their franchisees, and other parties involved in the franchising industry. They typically advise on contracts, operational issues, and other legal matters related to the business of franchising.
Finding The Right Firm
When searching for franchising law firms, the process can seem overwhelming. It is important to look at the firms’ success and how they have helped other clients in similar situations.
Look into what types of cases their lawyers usually handle. Then visit their website and see if they have any resources to find out more about them before contacting them.
Conclusion
If a company is just getting started, franchise lawyers can help their clients understand the information essential details that their the average person’s lack of legal knowledge would miss.
