When you invest in a franchise in New York‚ you will sign a Franchise Agreement which legally binds you to the franchisor. Any breach of this agreement can ultimately lead to a damaging franchise dispute. Therefore‚ before you sign the franchise agreement for a franchise in New York‚ you should go over the legally binding terms with a New York franchise lawyer.
The franchise agreement will obligate you to certain business terms. These terms may include minimum purchase orders‚ non-compete agreements and monthly royalty payments.
There are several ways in which a franchisee may breach the terms of the franchise agreement‚ including:
- failure to meet the minimum maintenance standards for your franchise in New York;
- encroachment on the territory of another franchisee;
- failure to sufficiently contribute to advertising and marketing funds;
- misuse of a franchisor's trademark; and
- sale of unauthorized goods or services
Your New York franchise lawyer can carefully explain each aspect of the agreement to you and help you to determine whether it is fair and in your best interest to sign the agreement. By taking this step at the offset‚ you may be able to reduce the chances that you and the franchisor will come to a disagreement or dispute further down the road.
Because the stakes are so high in a business investment such as this‚ it is in your best interest to partner with a New York franchise lawyer who you can trust and who has experience in handling franchise relationships from a variety of angles.
When It Is Time to Hire a Franchise Lawyer in New York
If you are an entrepreneur who is interested in franchising your business there is a lot you need to know‚ including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time‚ get New York franchise lawyer Charles N. Internicola‚ Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.