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- The FTC’s New Rule For Starting a Franchise in New York
- What Is The Initial Investment (Item 7) In the Franchise Disclosure Document?
- What Are the Territory Rights Described in a Franchise Disclosure Document?
- General Rules to Follow When Drawing Up Your FDD
- What Information Must I Provide in a Franchise Disclosure Document?
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Franchisor Services
Q: What is the Waiting Period After Delivery of a Franchise Disclosure Document to a Prospective Franchisee.
A: Pursuant to the Federal Franchise Rule, franchisors must disclose and deliver to their prospective franchisees the franchisors current FDD (Franchise Disclosure Document) at least 14 days prior to the prospective franchisee signing any binding agreement or paying any fee. If, during the negotiation period (after delivery of the franchisor's then current FDD) the Franchisor "unilaterally" and "materially" modifies the terms of the franchise agreement or other documents attached to the FDD then the franchisor must re-disclose the modified agreements and wait an additional 7 days. This redisclosure obligation and waiting period does not apply to modifications resulting from negotiations with the franchisee.
Charles N. Internicola, is a franchise lawyer who represents start-up and established franchisors throughout the Unites States, in all fifty states, including New York and New Jersey. Charles is the author of "An Entrepreneurs Guide to Purchasing a Business" and he is the publisher of the "Franchise Law Blog". If you are establishing a franchise system or looking for a lawyer to monitor and maintain your franchise registration and compliance program, contact Charles Internicola, to discuss the national franchise services that he delivers to his clients.
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. The content of this site is subject to the Copyright of its author, Charles N. Internicola, Esq.
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