To become a successful franchisor, one should understand every aspect of the Franchise Disclosure Document or FDD. However, the language of the FDD is completely legal and it is not possible to understand it without proper knowledge in that matter. In case, the franchisor without taking the assistance of an experienced person has done the agreement; then in the future, it will be very tricky to get proper ROI and solution in any dispute.
It is the Franchise Lawyer who can act as the savior for the franchisor. Though not every franchisor takes the service of them, it should become mandatory for their own betterment. There are so many things that they can get help from the attorney. They will not only help in understanding the agreement but also provide valuable suggestions. Moreover, during the negotiation and mediation period; they work like bliss; helping the franchisors in every possible way.
So, if you want to know what are the role and responsibilities of the Franchise Lawyer and how they are helpful for the franchisor, then check out the following section.
Benefits of Franchise Attorney For Franchisor:
Generally, it is the franchisees who take the service of the lawyer and most of the time franchisors avoid it for an additional cost but they may end up spending more money in different sections. Hiring a lawyer, especially before you sign for the Franchise Agreement is very important for the following reasons.
The franchise lawyer works especially for the franchise to provide legal advice, guidance. Their service is considered very effective as they ensure confidentiality throughout the process.
- Franchise Consultant: The concept of the franchise depends on the Franchise Agreement. The franchisors must know all the legal rules and regulations before they sign the agreement. The attorney will help them to get the best out of the agreement. They help them to understand the meaning of the clauses of the Agreement.
- Negotiation: The lawyer will help the franchisors during the negotiation. Before the finalization of the FDD and Agreement; the franchisees have a negotiation session with the franchisors. At that time, they discuss the clauses and rules of the franchise. Most of the time, the franchisees have the upper hand but if the lawyer is much experienced, then they must convince for their favor. They will help to resolve any underlying issues of the franchise.
- Advisor: The Franchise Lawyer exclusively works for this industry. And for that reason, they have extensive experience in different segments of the franchise. For their superior understanding of the process, they can act as business advisors. They can give legal advice if needed.
- Mediation: In the franchise system, disputes are very common. Both the franchisors and franchisees can face the requirement of mediation to resolve the dispute. In that case, the lawyer can act as the mediator or help the franchisors to resolve the problem through discussions. As they are well aware of the legal terms of the Franchise Agreement; they obviously provide a helping hand and advice to the franchisors to come out from the situation in the best possible way.