Are you looking to purchase a franchise business in Iowa? If so, you should consider having the Franchise Uniform Offering Circular and Franchise Agreement reviewed by an attorney to make sure the documents comply with applicable federal and state laws. There are a number of specific Iowa law provisions relating to transfers, jurisdiction, application of state law, renewal and selling your franchise which are often not contained in typical out-of-state franchisor agreements. A review can help point out those applicable Iowa franchise law provisions which may be helpful if you end up in a dispute with a franchisor.
A common misperception is that franchisors are unwilling to negotiate their franchise agreements. In fact, many franchisors are willing to negotiate certain terms with prospective franchisees. A review by an experienced franchise attorney can point out the areas for possible negotiation with the franchisor.
Overall, a franchise attorney review can also help give you a better understanding of your obligations as a franchisee and the duties of the franchisor. It is good idea to fully understand these issues before making the substantial investment required by most franchisors.
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