Question: I am looking to buy a franchise – how can a lawyer assist me?
Buying a franchised business can be a considerable commitment and it is important that you seek advice from a lawyer before entering into any franchise agreement.
Often, we hear of the need to undertake “due diligence” before entering into any contract. With respect to a franchise agreement, this is of critical importance. It is necessary that you fully understand what your rights and obligations are under the franchise agreement before you agree to same. A lawyer can assist you by reviewing the documents to explain these rights and obligations. Such documents would include:
- the franchise agreement and disclosure statement
- the sale of business contract
- any lease agreement
- the franchising code of conduct
Consideration will also need to be given to the licensing of any trademarks and the right to operate the business. There are numerous and various legal and contractual issues that would have to be considered before any definitive advice could be given about the franchise agreement. If you enter into a franchise agreement without undertaking your due diligence and seeking proper legal advice, then issues may arise which can cause significant problems in the future.
At Brydens Lawyers our Commercial Team are experts in franchising law. Our lawyers can assist you from the time of undertaking the preliminary enquiries and all due diligence necessary together with providing expert legal advice and representation in the negotiation and finalisation of any franchise agreement.
For all your franchising agreement legal needs, call Brydens Lawyers. WE DO provide expert legal advice and representation in relation to all franchising agreement matters.