Set the Terms

In an article published in the Summer 2015 issue of Food & Drink, Scott Augustine and Scott Ratchick discuss the top legal issues to consider when negotiating a franchise agreement. Whether a franchisee or franchisor, when starting such a partnership both parties are generally committed to a long-term and fruitful business relationship. But while focusing on getting the business up and running, many give little thought to the backbone of the successful partnership: the franchise agreement. Among the top issues detailed are personal guarantees, merger clauses, rights of first refusal, and right to purchase.