There are a wide variety of business lawyers in New York. Many business lawyers focus their practices on transactional matters, drafting and reviewing contracts and negotiating on behalf of their clients. Formation of corporations, partnerships and limited partnerships, and advice about which business form is ideal for you makes up a significant part of many business attorneys' practices.
Other business attorneys are commercial litigators who sue or defend clients in lawsuits that arise from unfortunate business dealings.
Regardless of the type of business attorney you need, you want to make sure that the attorney is right for you, and has experience in your type of business or commercial matter.
The Legal Referral Service is a non-profit public service of the New York City Bar Association and we can help you find a Business Lawyer who is right for you.
You can reach one of our experienced referral counselors by calling
(212) 626-7373.
Costs
There is no cost for a referral. When you call us, a lawyer or paralegal will answer the phone and help you find an appropriate way to handle your legal problem. There is no charge for talking to a member of our staff.
Franchise Q&A
1. I am interested in purchasing a particular franchised business. What should I be asking the Seller to provide to me?
1. I am interested in purchasing a particular franchised business. What should I be asking the Seller to provide to me?
If it is an operating business at a particular location, you should request:
A Uniform Franchise Offering Circular (“UFOC”);
A sale agreement or term sheet clearly stating the business terms of the transaction; and
A copy of the lease for the location.
If you are simply inquiring with a franchisor about acquiring a franchise, then you will start with just the UFOC.
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2. What should I be looking for in the UFOC?
2. What should I be looking for in the UFOC?
The UFOC is a standard document that must be registered in New York State with the Office of Attorney General. The document will set forth some risk factors relating to the franchise and then contain 23 items which describe, among other things, the franchisor, its history of the franchisor, existing litigation and the fees and investments you will be required to make to open the franchise.
The UFOC will describe how the franchisor assigns territory and what restrictions you will operate under in terms of what you may sell and, possibly, where you have to buy your products and supplies. The UFOC should have financial statements of the franchisor attached to it. The UFOC will have several exhibits, including the franchise agreement and related agreements, which may include a guarantee.
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3. How do I know where to open my business?
3. How do I know where to open my business?
Your UFOC will describe how the Franchisor grants locations and territories. You may end up leasing space from the Franchisor or finding it on your own. In either event, the lease of the space is a separate agreement you will need to analyze.
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4. That all sounds complicated. Can I do it on my own?
4. That all sounds complicated. Can I do it on my own?
Some people have. The UFOC has a list of existing franchisees and you can contact them to inquire about their experience with the franchise. But you would be wise to talk to an accountant or other financial advisor with respect to the financial aspects of the business, and to an experienced franchise lawyer. The lawyer will be able to clarify everything for you and protect your rights. As a prospective franchisee, you have significant rights since this is a regulated area of the economy.
