Establishment of Franchise System: Conversion of License Agreements
Established franchise system for regional company that previously expanded by way of multiple license agreements and consulting agreements. Existing license system was converted to a franchise system with a Franchise Disclosure Document and compliance program focused on conversion of existing licensees.
A successful and well run company had achieved significant expansion through the grant of multiple licenses. After assessing prior expansion, future expansion plans and the regulatory requirements imposed on this business, the franchise lawyers at The Internicola Law Firm,established a franchise compliance program focused on an FDD that properly identified prior licenses and established a legal foundation for future expansion.
License agreements properly identified and reported in FDD and franchise compliance program was successfully established to permit future franchise sales.
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