BEWARE OF HIRING INEXPERIENCED FRANCHISE ATTORNEYS
When you make a multimillion dollar business transaction, do you hire a family lawyer? Do you hire a construction attorney in New York to handle your business litigation issues?
The same principal is applied when you are to invest in a franchise business. But before you hire any New York franchise lawyer, just remember that this is an extremely specialised field that you can only hope to handle, if you have a knowledgeable and trusted professional on your side. So, why not choose an experienced franchise lawyer who is well versed with the insights and rules and regulations of the business?
Also, when you are searching for a franchise attorney, you have to careful - do not get misguided. That’s because many general counsels, litigation attorneys or commercial lawyers advertise franchising as their area of practice. When you approach a lawyer for franchising, make sure that you have done some homework, and prepare some targeted questions about franchise undertakings, like:
Have you represented franchisors in any other industry before?
Have you represented any other franchisors in my industry?
How many FDD’s and franchise agreements have you prepared?
Have your agreements held up under scrutiny by the regulators in the various franchise registration states?
It is essential for a franchise attorney on your side to be prepared with answers of such questions and expertly tackle other legal issues while meeting the other party. If your lawyer is inexperienced and unable to provide relevant answers, you may end up appearing as a fool. So choose wisely.