If you are looking to expand your business and grow, franchising can be a step in the right direction towards that. With franchising, a franchisor licenses its business know-how, procedures, intellectual property, the use of its business model and brands to a franchisee. With a franchise license, a franchisee sells products or provides services under a business' name. Franchising allows business owners to venture into areas that they may be limited to venture in due to different limitations. Franchising is a complex process that will involve legal procedures. Hiring a franchise attorney is essential in ensuring that everything is done right. Such work should not be left in the hands of an amateur as it is complex work. Due diligence must be conducted when it comes to hiring a franchise attorney. Here are a few essential tips that will help you hire the right franchise attorney.
There are many areas of practice when it comes to law. Some lawyers are general practice lawyers while others specialize in some areas. The lawyer you hire should have franchising and business law expertise, When it comes to hiring a lawyer for franchising, you should focus more on the attorney you will be working with than the firm you hire. The attorney you hire should handle all your franchising legal needs. With franchising, there are many legal procedures involved. You will have to have a franchise disclosure document drafted by your lawyer. For the legal procedures to be handled well, your lawyer must have expertise in this area. You can visit the website of the lawyer to find information on this. Franchising law should be listed as one of the practice areas of the attorney. When you are looking to close on of your franchise, legal services will be needed. In such a scenario you may have a franchise lawsuit that ends up in court. This makes it essential to choose an attorney with courtroom experience. There is more to franchise law than just drafting FDDs. This makes it essential to hire a franchise attorney who is well-rounded in all areas in franchise law.
When you are hiring a franchise attorney, industry-specialty may be important. Hiring a franchise attorney that specializes in your industry may be important. For a non-regulated service business, industry-specialty may not be very important. However, in industries such as the food industry, industry-related knowledge is important. Hiring a lawyer with knowledge of your industry will put you at a better legal standpoint as they will be well-versed with the additional regulations of your industry. In some industries such as healthcare, hiring an attorney with industry-specialty is a requirement. Such areas have complex regulations and you should hire a lawyer that specializes in this area for their in-depth knowledge.
The cost of services is an important factor to consider. Attorneys have different cost structures, some use an hourly-based rate while others have a flat-fee. When hiring a franchise attorney, you should ensure that they are affordable. Their cost structure should be suitable for you. Use these tips when hiring a franchise attorney.