Frequently Asked Questions
We’re business law and franchise lawyers in Chicago providing customized legal services to businesses and their owners, franchisors and franchisees, and the restaurant and hospitality industry. Our knowledgeable, effective, and responsive attorneys counsel clients in connection with contracts and franchise agreements, corporate and LLC issues, leases and real estate transactions, employment issues, estate planning and business succession, and lawsuits and alternative dispute resolution.Search For:
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Can I sell my franchise to someone else?
Acquiring a franchise grants you several important branches in the property rights bundle of sticks. Chief among these is your right to re-sell your franchise. Franchise agreements that place absolute barriers on your right to sell your franchise are void … Continue reading
Can I negotiate the franchise fee?
While many aspects of the franchise agreement are completely negotiable, franchise fees often are not. Federal law requires that franchisors notify all prospective franchisees of any material change given to any prospective franchisee. So if the franchisor negotiates a new … Continue reading
Posted in Franchise Law
Tagged fee negotiation, franchise agreement, franchise fee, franchise lawyer
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What is a franchise agreement?
A franchise agreement is a binding contract between franchisee and franchisor that reflects the mutual obligations each owes to the other. The franchise agreement governs the entirety of the relationship between the franchisee and franchisor and contains all of the … Continue reading
Posted in Franchise Law
Tagged franchise agreement, franchise lawyer, franchisee, franchisor
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What is a franchise lawyer?
A franchise lawyer is an attorney who possesses the unique knowledge and skill required to help facilitate the purchase, sale, formation, and success of new and established franchises. A franchise lawyer representing a franchisor can help prepare and draft Franchise … Continue reading
Are franchise laws regulated by the federal or state government?
Franchisees in Illinois have to play by an intricate set of rules encompassing regulation by both state and federal government, which both impact franchise laws. In Illinois, the sale of a franchise is regulated by the Illinois Franchise Disclosure Act of … Continue reading
What is a Franchise Disclosure Document (“FDD”)?
A Franchise Disclosure Document (FDD) is a complex legal document that the Federal Trade Commission (FTC) requires franchisors to provide to potential franchisees before entering a formal franchise agreement. Franchise Disclosure Documents protect potential franchise buyers by providing them with comprehensive … Continue reading