Akkas & Associates Law Firm is a globally recognized Turkish franchising law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Istanbul franchising lawyers are prepared to handle all types of business matters. Our Turkish franchising lawyers also represent our clients in the following areas of law; corporate law, company formation and governance, labour employment law, bankruptcy & debt recovery, work and resident permit applications, mergers & acquisitions, due diligence, and commercial transactions.
Akkas & Associates Law Firm attorneys also have particular experience in the area of franchising, and we have counseled and represented many companies in employing this method of expansion, both domestically and internationally. Franchising is a method of distribution that combines the advantages of a branded, centralized, specialized system with the capital and micro-management of local independent business persons to produce a market competitor with critical mass. It can leverage a business’ success far beyond its own capital and management resources.
Franchising Law Services
Franchising’s inherent geographic expansiveness and long-term business relationships cause it to be affected by an array of dynamic Turkish laws. While these various laws and regulations can be ambiguous and confusing and can create risks such as inadvertent franchising, Akkas & Associates Law Firm attorneys have the knowledge and expertise to guide our clients to minimize these risks.
The firm regularly represents both franchisors and franchisees. These activities include counseling franchisors regarding disclosure requirements, creating disclosure documents, obtaining registrations in states which require them and assisting in the negotiations with prospective franchisees. The firm also represents its clients in franchise litigation and disputes.
What is Franchising Law?
A franchise is a legal and commercial relationship between the owner of a trademark, service mark, trade name, or advertising symbol (the franchisor) and someone who seeks to use that identification in a business (the franchisee). For example, McDonald’s restaurants all share the same branding and menu items but are individually owned by franchisees. Laws govern how franchisors may operate and which disclosures they are required to make to prospective franchisees.
If you are considering purchasing a franchise, it makes sense to contact a business attorney with experience handling such procedures. They will be able to help you better assess the likelihood of success (based on financial data and other pertinent information), navigate the regulations, and secure funding.
Terms to Know
- Royalties: A share of the profit or product reserved by the grantor; a payment made to an author or composer for each copy of a work sold or to an inventor for each article sold under a patent (or, in this case, payment made by the franchisee to the franchisor based on a percentage of sales or a set rate).
- Franchise Disclosures: States have laws governing which types of disclosures franchisors must make to prospective franchisees, and the manner in which these disclosures must be made (such as average profit, operating costs, etc.).
Buying a Franchise? Why You May Need a Lawyer
After you have done some research and reviewed various franchise options, you will be presented with the franchise agreement, a legally binding contract. The agreement and the franchise disclosure document usually are written in thick “legalese” and can be better interpreted by an attorney. To become better prepared, please contact our franchising attorney.
The franchise booklet, which includes disclosures required by laws, covers the franchisor’s business experience, litigation history, bankruptcy filings, fees, initial investment, restrictions, franchisee’s obligations, territory, trademarks, dispute resolution, and more. An experienced franchise attorney will be able to compare any given franchise booklet with industry averages.
Franchisors almost always tell prospective buyers that their contracts are non-negotiable, but that is not the case. Remember, buying a franchise is an agreement between two parties; so you should protect yourself just as rigorously as the franchisor will protect itself.
Reach our Istanbul Franchising Lawyers
Since its foundation in 1992, Akkas & Associates Turkish Law Firm has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized Turkish franchising law practice, our firm is now one of the leading franchising law firms in Istanbul, Turkey. You may reach our Istanbul franchising lawyers through our Contact page.