Mouprise.com

Franchise Lawyer – Franchise Law Specialist

A franchise attorney is one whose primary practice is law. There may be lawyers to help those interested in making an investment. The types of legal services offered by law of this type include negotiating franchise agreements, reviewing disclosure documents, and sometimes negotiating the final retail location lease. Attorneys’ fees are an hourly rate ranging from $300 to $600 or more per hour.

The second type of lawyer are those who help companies that want to expand and sell franchises for their business model. Such an attorney typically drafts the franchise disclosure documents, contract, and registration applications. There are approximately 14 states where an attorney must file a registration application before the company can offer or sell franchises in these states. There are also 24 states that have business opportunity laws that the attorney must follow in order for the company to offer or sell franchises in these states. The attorney who does this type of work typically charges an hourly rate ranging from $300 to $600 or more per hour to franchise business services.

HOW TO FIND A GOOD FRANCHISE LAWYER

It is best to hire an attorney early in the process, whether you are considering buying a franchise or franchising a business. But frankly it’s also important to be selective and smart. Find a lawyer who, in addition to his law degree, also has an MBA (Masters of Business Administration) and has narrowed the field down to a select few. It is surprisingly easy to do this. You can simply do a Google search for an MBA franchise lawyer. You are now dealing with an attorney who understands both the legal and business issues that are critical in the franchising industry. You’ve done a good job at this point, but don’t stop here. You can narrow the field and get the best of the best by finding a franchisee, with an MBA, who also has franchise ownership experience. Whether you are buying a franchise for the first time or franchising a business, the advice received is much more meaningful and practical when it comes from a lawyer, an MBA, and a successful former franchise owner, as opposed to someone who has never operated a franchise before. business. deductible before. Finding a lawyer, with an MBA and who has had a successful franchise, that’s the cream of the crop.

QUESTIONS FROM THE FRANCHISE LAWYER

(1) Is the practice of law dedicated 100% exclusively to the law? How long have they been practicing law exclusively?

(2) How many FDD Disclosure Documents (formerly called franchise offering circulars) have you written and reviewed?

(3) What is the attorney’s experience filing franchise registrations and dealing with state examiners in the 14 franchise registration states? What about the 24 business opportunity states?

(4) What is the lawyer’s experience in representing franchise companies? What about representing people who want to buy a franchise?

(5) Does the attorney have experience owning and operating a franchise? Was it a successful franchise? Knowing both sides of the fence is a huge advantage.

(6) In addition to a law degree, does the lawyer have an MBA? As mentioned, this is especially useful for advising on both the business and legal aspects of the industry. Do a Google search with “MBA lawyer” as your search term and the results will be apparent.

Other factors, like being a member of the American Bar Association Franchise Forum Committee, don’t count for much. Membership in a franchise committee or association simply means that the attorney attorney pays an annual membership fee. No prior legal skills are required, and large numbers of members join to learn about topics they don’t know very well.