What Are My Rights Under The Franchise Agreement With Regard To Territory, Royalties, etc.?

 

A: If you are considering becoming a franchisee, then you should know what rights will be provided under your franchise agreement. To go over these rights, and understand them thoroughly, you can get the professional advice of a New York business lawyer. While your franchise agreement may be said to be non-negotiable, a New York business lawyer may be able to negotiate your rights. These rights will include:

• The protected territory that you will be granted
• Whether you are eligible for a "right of first refusal", in regards to opening new franchises within proximity of your protected territory
• The royalties and advertising fees that you may be required to pay
• Your ability to transfer or sell your franchise in the future
• Restrictive covenants that may limit your ability to own or work in a different business in the future

The franchisor may also have the ability to make amendments to the franchise agreement, amendments which, under the terms of the agreement, you as the franchisee will be required to abide by. Before starting a franchise in New York, you should have a New York business lawyer explain the terms and conditions of your franchise agreement, and make sure that are you able to fulfill the necessary obligations.

If you are an entrepreneur who is interested in purchasing a business or franchise, there is a lot you need to know, including the top 5 business-buying myths and how to evaluate business assets. For a limited time, get this FREE business manual An Entrepreneurs Guide to Purchasing a Business or Franchise. Offering expert help in New York, New Jersey and nationwide, business and franchise attorney Charles N. Internicola is ready to answer your questions about franchise, national and international trademarks, and any critical business matters that may arise. Contact us today- 1-800-976-4904




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IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.

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