Franchise Agreements: What You Need to Know Before Your Clients Signs, Part 2

course

COURSE INFO

  • Available Until 1/1/2023
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 03172020
  • MCLE Credits 1 hour(s)


Course Price: $89.00

COURSE DESCRIPTION

 

Franchises often seem to clients like vehicles to assured success, but they are risky ventures.  The task for lawyers advising clients about franchises is to counsel them about setting reasonable expectations and help them understand the practical obligation of franchise agreements.  This is no easy task because these agreements are a complex arrangement of restrictions, fees, operational requirements, intellectual property protections and reporting periods. But understanding how these agreements work – and the range of what’s negotiable and what’s not – is essential to client success.  This program will provide you with a real world guide to the framework of franchise law, practical due diligence of franchise opportunities, and reviewing and negotiating the most important provisions of franchise agreements.

 

Day 1:

  • Setting and counseling clients about realistic franchise expectations
  • Practical guide to reading/understanding a Franchise Disclosure Document (FDD)
  • Phases of franchise review – due diligence, negotiation of agreement, and lease work
  • Spotting red flags early in the process
  • Framework of franchise law and relationship of federal/FTC regulations to state regulation

 

Day 2:

  • Major economic and non-economic provisions in franchise agreements
  • Determining what’s truly negotiable – and what’s not
  • Scope of territory – rights within in it and the opportunity to expand
  • Tiers of fees, royalties and marketing expenses
  • Operating standards and covenants – and negotiating for local modification
  • Transfer and exit issues when a franchisee wants out

 

Speaker:

H. Michael Drumm is the founder and member of Drumm Law, LLC in Denver, Colorado, where he has an extensive franchise, trademark and business transactional practice.  He works with franchisors across industries nationwide helping them draft, file and renew their franchise Disclosure Documents and franchise agreements.  He has a specialty representing craft breweries to help them trademark their brands and protect their intellectual property. He has been repeatedly honored by Franchise Times magazine as a “Legal Eagle” and has been designated by the International Franchise Association as a “Certified Franchise Executive.”  Mr. Drumm received his BSBA from the University of Missouri-Columbia and his J.D. from the University of Texas School of Law.