This article examines the need of franchisees to seek the advice of an attorney. This article will first explain the role of an attorney in the complex process of owning a franc

There are fifteen states--California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and WIsconsin--that regualate offers and sales of franchises under statutes requiring registration of the offer and sale of franchisea and/or offer and sale by means of a comprehensive offering circular that must be delivered to the prospective franchise from two to ten days before sale of the franchise. Rudnick, Joseph W. Sheyka, & Jerome L. Fels, General Franchising Considerations, Organizing and Advising Illinois Busiinesses, Illinois Institute for Continuing Legal Education, May, 1999.

"disclosure statement" or "prospectus" to each prospective franchisee at the earlier of: (a) The first personal meeting between the franchisor and the franchisee at which the purchase of the franchise is discussed; or (b) Ten business days before the earlier of: (i) the execution by the franchisee of the franchise agreement or any other agreement, creating a binding legal obligations; or (ii) the payment by the franchisee of any consideration in connection with the sale or proposed sale of a franchise."

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