A franchise attorney provides more than an average lawyer can for entrepreneurs. As an entrepreneur yourself, perhaps you are considering becoming a franchisee. Before taking that big step into franchisee ownership, examine the legal features involved. While doing so, you may find yourself asking questions that you cannot answer yourself. A franchise attorney can be of assistance. They can assist you in other ways as well. Continue reading to discover reasons to hire a franchise attorney.
Advice On Choosing A Business Entity
Lawyers who specifically specialize in franchises offer great advice on choosing a business entity. Aside from entering the franchise business, choosing an entity may be your most important decision. A franchise attorney will offer you suggestions on how to set up your business. Furthermore, they can provide you with feedback on an already-created layout. They can assist you in deciding what type of business you should make your franchise. Options include Limited Liability Corporation (LLC), a Subcahpter S Corporation, and a C-Corporation. Your legal rights and liabilities will be decided based on these decisions. With that in mind, hiring a professional for advice is essential.
Provide Clear Explanations
Another reason to hire a franchise attorney is for their knowledge and experience. Franchise agreements consist of numerous terms that you may never have been exposed to before. Therefore, it is likely that you will find yourself incredibly confused. You may think that you are capable of figuring out the statements on your own. Since the agreement directly effects your business and its success, do not take the chance. Instead, hire an experienced franchise attorney. On of their duties is to ensure that you understand what you are signing off on. They will translate the agreement using terms and phrases that you can comprehend. Hence, a franchise attorney can guarantee that you make the right deal.
Strict Franchisee Focus
Franchise attorneys specialize in looking at agreements and disputes through the eyes of franchisees. With this tight perspective, they are able to keep your best interest in mind. The way that franchise attorneys focus on franchisees is what differentiates them from regular lawyers the most. There is an additional step to take to ensure that your franchise attorney focuses on your needs and your needs alone. Choose an attorney who focuses on franchisees in particular. They will be able to provide you with franchise financing solutions and more. Franchise attorneys who represent both franchisees and franchise owners are still advantageous. However, the more specific, the better. An attorney who solely represents franchisees will negotiate in a way that puts you before the franchise owner. Hire a franchise attorney for the benefits that come with a strict franchisee focus.
Assistance When Issues Arise
With a franchise attorney, you will receive assistance when issues arise. Franchisees who do not hire franchise lawyers typically do not properly resolve problems. More specifically, they refrain from solving them right away. The longer a franchisee waits to address issues, the more issues can arise. Furthermore, hesitation can cause various legal disputes. Once you sign on the dotted line, you have limitation periods and must follow the state statute of limitations. These contractual restraints make it difficult to effectively resolve issues. Luckily, attorneys who specialize in franchises know the ins and outs of the industry. They are more likely to determine a negotiation. This is yet another reason why you need a franchise attorney.
Franchise Development Deception
Additionally, you need a franchise attorney because of how franchise development directors deceive franchisees. A franchise director is similar to a salesman. Their main goal is to get you to sign the franchise agreement. Furthermore, they want you to sign it without a clear understanding of it. The hefty amount of difficult terms is no accident. The franchise development director wants them to throw you off. They do not want you to be able to comprehend the find print enough to negotiate. Also, they may tell you that hiring a franchise attorney would be a waste of money. In this case, they are most likely deceiving you. This deception is more of a reason for you to hire a franchise attorney.
A franchise attorney can assist you in succeeding. They can provide you with business advice. Clear explanations are also supplied. You are guaranteed more protection due to a strict focus on franchisees. They can assist you when issues arise as well. Lastly, such lawyers prevent you from giving into franchise development deception. These are all reasons to hire a franchise attorney before signing an agreement.