What does a franchise lawyer do?
When deciding to embark on franchising your business, or franchising a new business, gathering all of the information needed before making the important decision of hiring a franchise attorney is important.
Sometimes, however, it can be confusing as to why you need a franchise lawyer, or what exactly the benefits are of having one. So, what does a franchise attorney actually do?
In short, a franchise agreement is a massive commitment. A relationship between a franchisee and franchisor can be a 20+ year relationship that may require an initial investment of tens, if not hundreds of thousands of dollars.
As with any financial agreement, a franchising agreement comes with mountains of paperwork and liability disclaimers — often exceeding 50 pages.
The Franchise Disclosure Document (FDD), a legal document that must be given to individuals that are interested in buying a U.S.-based franchise as part of the pre-sale “due diligence” process, generally totals 200+ pages.
The Federal Trade Commission (FTC) created these guidelines in 1978 that required franchisors to share information prior to allowing a new franchisee to join their business.
Learn more about Franchise Disclosure Documents.
About Drumm Law
At Drumm Law, our mission is simple — we are a virtual firm with an award-winning team of franchise attorneys that are ready and willing to assist you with any of your legal franchise needs.
Contact one of our franchise lawyers today to get legal help with your franchise.
Learn more about franchising your business here.
How to Choose The Best Franchise Lawyer
When it comes to creating and filing the legal documents necessary for starting the process of franchising a business, it’s best to leave the long and difficult process to a franchise attorney with expertise in the area of franchising.
Benefits of a franchise attorney
By contracting an experienced franchise attorney, you aren’t just helping protect yourself against any inconsistencies in your Franchise Disclosure Document or liabilities in the process — you’re also helping mitigate any potential issues along the way.
For example; at Drumm Law, we’re passionate about utilizing our knowledge in franchise law to help your business:
- Avoid conflicts of interest
- Have a peace of mind regarding the legality of your documents
- Avoid having to pay for legal documents more than once
- Enjoy attorney-client privilege
How to select a franchise attorney?
Now that we’ve broken down the benefits of hiring a franchise lawyer, now comes the real test — what should your business look for in a franchise attorney?
For one, your businesses should look to contract a franchise law firm that has experience on both the franchisor and franchisee sides of the equation. Also, when it comes to Franchise Disclosure Documents, finding attorneys that will work on a “flat fee” basis (instead of hourly) can also greatly benefit your business.
About Drumm Law
At Drumm Law, we’re proud to offer your business with a personalized franchise attorney with decades of experience in franchising, Franchise Disclosure Document creation/review and more.
“We actually have 11 franchise lawyers – one of the largest franchise legal departments of any law firm,” said Mike Drumm, attorney and founder of Drumm Law. “And we are one of the only (law firms) that, for FDD’s, charges a flat fee for every state.”
Drumm Law is also proud to offer legal certainty and experience that is hard to find anywhere else — with a team that includes two former state regulators, who know the processes inside-out.
Contact one of our franchise lawyers at Drumm Law so we can help with your franchising processes.