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About the Teleseminar
In many cities, franchises seem to be among the most successful businesses, reliable bets as entrepreneurs and investors seek to start and grow new ventures. The thinking is often that it is better to go with something that is tried and true – tested hundreds of times by others across the nation – than to start a business from scratch with all the risk that entails. The challenge for attorneys with clients starting franchises is navigating them through long and complex franchise agreements, including capital commitments, franchise fees and licenses, operating covenants, advertising commitments, training, reporting and more. The complexity of the agreements can obscure both opportunities and risks that your client may not immediately see. This program will provide you with a real world guide to the most important components of a franchise agreements, how to spot red flags, and negotiating with franchisors.
- Most highly negotiated provisions of franchise agreements and spotting red flags before clients buy
- Importance of the Franchise Disclosure Document (FDD) to the franchise agreement
- Fees – initial, ongoing, transfer and exit
- Territory of franchise – exclusive v. site only
- Marketing, advertising and technology commitments
- Term of agreement, renewal and termination provisions
- Franchisor services to franchisee, including training
- Timetables to open a franchise and transfer/exit from the franchise
About the Speaker
Harris J. Chernow is a partner in the Philadelphia office of Chernow Kapustin, LLC, where he has a national franchise, business transactional and real estate practice. He represents franchisees and franchisors on the full range of franchise transactions, including licensing, distribution, corporate structuring, retail development, and dispute resolution. He is a member of the Governing Committee of the ABA’s Forum on Franchising and formerly as chair of the Forum’s Litigation and Dispute Resolution Committee. He is also a contributor to the book “Franchising 101, the Complete Guide to Evaluating, Buying and Growing Your Franchise Business,” published by Upstart Publishing Company. Mr. Chernow received his B.S. from Temple University and his J.D. from Temple University School of Law.
Mandatory MCLE Credit Hours and Legal Ethics & Professional Responsibility (LEPR) Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour. (Tentative)