As a franchisee, it’s important to know when it’s time to take legal action. While pursuing mediation or arbitration might be the last thing you want to do, when filing a claim is your best option, you need to be willing to do what is necessary to protect your investment. So, when should you file for mediation or arbitration against your franchisor? Find out from franchisee lawyer Jeffrey M. Goldstein.
Buying a franchise is a multi-step process that requires careful planning, foresight and informed decision-making. While a franchise can be a good investment, there are no guarantees, and starting out on the wrong foot can make it much more difficult to build a successful and sustainable business. In this article, New York franchise lawyer Jeffrey M. Goldstein provides an overview of the franchise buying process.
Disputes between franchisors and their franchisees can involve a wide range of issues. As a franchisee, it is important to be aware of these issues so that you know when legal action may be necessary to protect your franchise. When these issues arise, informed decision-making is critical, and this makes it important to speak with an experienced franchise attorney as soon as possible.
Robots and Artificial Intelligence (AI): What Franchisees Need to Know When Their Franchisors Adopt New TechnologiesJan 31, 2024 - Blog by Goldstein Law Firm |
Artificial intelligence (AI) is officially here. In 2024, we anticipate that franchisors in a wide range of industries will seek to adopt AI technologies in various capacities—whether they fully understand AI’s capabilities and implications or not. Some franchisors are also turning to robots to streamline their operations, and this is a trend that we expect to see continue throughout the year as well.
Many people buy their first franchise after getting fed up with their jobs. They get tired of working for someone else, and they decide that they are willing to take the risk of quitting in order to try something new. But this approach isn’t right for everyone. If you aren’t ready to quit your job—at least not yet—you might be thinking about starting a franchise as a side hustle. Here, Chicago franchise attorney Jeffrey M. Goldstein explains what you need to know.
If you own a franchise, any disputes that arise between you and your franchisor will be subject to the terms of your franchise agreement. Most likely, this means that your dispute will be subject to mandatory mediation or arbitration—or perhaps both. As franchise lawyer Jeffrey M. Goldstein explains, while these forms of alternative dispute resolution (ADR) are supposed to be neutral, there’s a reason why franchisors almost universally require ADR.
Each year, we publish lots of articles for franchisees on our blog. We know that being a franchisee can be hard, and we want to make sure that those who need legal help are able to make informed decisions about their next steps. While some of our articles are relevant to a specific point in time, most are designed to serve as resources for years to come.
When you are going through the process of buying a franchise, it is critical to review the franchise agreement. Not only will the franchise agreement govern your relationship with your franchisor, but it will also dictate what happens if something goes wrong. Will you be required to use designated suppliers (even if you can find lower prices elsewhere)? What will you need to do in order to renew? Will you be required to arbitrate in the franchisor’s home state in the event of a dispute? Will you be liable for liquidated damages if the relationship ends prematurely?
So, you’re thinking about buying a franchise in 2024. What do you need to know? Buying a franchise is a major investment with significant legal financial implications—so it is critical that you make an informed buying decision. Here are some key insights from franchise attorney Jeffrey M. Goldstein.
For many franchisees, territorial protections are essential to their profitability. Facing competition from multiple businesses serving potential clients or customers both in person and remotely, franchisees need to know that they will not face additional competition from within their own brands.