The 15 minute guide to understand the concept of franchise law

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Franchise law is the body
of law developed to regulate the relationship between the franchisee and the franchisor

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The 15 minute guide to understand the concept of franchise law

  1. 1. The 15 Minute Guide To Understand The Concept Of Franchise LawFranchise law deals with the legal issues about the relationship of an individual or company(franchisee) acquiring the right to sell the products or services of another company (franchisor).It brings about the different areas of the law to address the relationship between the franchisor andthe franchisee, as well as other issues such as the relationship of the franchisee to the employeesand third party elements.In a franchise system, a person may buy the right to sell a product of a licensed company orfranchisor. This is not similar to other resale systems because the seller only sells exclusively thefranchise services and trademarks under the franchisor’s brand name. Franchise law is the bodyof law developed to regulate the relationship between the franchisee and the franchisor.Federal statutes or the FTC or Federal Trade Commission regulates franchise laws. Each regionmay implement their own laws and regulations regarding the legal relationship between franchisorand franchisee in their respective areas. The tort system can also apply ruling and decisions thatdirectly affect the franchising system. Since there is a variety of regional or state laws, howfranchise law is applied can vary widely from one region to another, and may be different from onecountry or the other. A franchise contract can be legal in one state but it may be illegal in another.Due to the unique legal relationship between franchisor and franchisee, franchise law hasdeveloped its own distinctive body of laws. But even if it has evolved and branched out tonumerous other areas, franchise law as a whole is still related to a multitude of legal specialtyareas. Other legal areas that are related to franchise law are the business law, contract law,trademark law, collections law, international law, employment law, administrative law and customs.If you are ever considering on starting up or owning a franchise business, you need to consult firstwith an experienced franchise lawyer. Franchise law luminaries should always be present duringnegotiations with franchisers so one can be legally advised and fully protected by the law. It isbetter to get a lawyer specializing in this particular branch than an ordinary lawyer who has tocatch up in recent franchise legislation.==== ====Franchise Consultants Videoshttp://bit.ly/franchiseconsultants==== ====

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