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BusinessBusiness Law Is it a Franchise or a Business Opportunity?What is the difference between a franchise opportunity any business opportunity? A business opportunity simply gets you started in a business. Once you start your business, you are basically left on your own. In contrast, franchise opportunities imply a contractual relationship with the franchising company, a partnership that will exist as long as you're in business, typically 10, 20 or more years. There are other fine differences between franchise opportunities and business opportunities, as we explain below. What is the "Right" Franchise For Me?By: Lynne D. Shelton, Esq. Many blue-collar workers and professionals alike are taking their savings plans and investing them in themselves. So which franchise system should they invest in? Well the decision to purchase a franchise is the easy part, but choosing the right franchise for you requires several steps of self-identity and in-depth decisions. Advice for Future FranchisorsBy: Lynne Shelton, Esq. When we talk with business owners, many times they have questions regarding what they should be evaluating and thinking about when they are planning on franchising. This article is designed to focus the business owner on whether they can or should franchise, and if so, what they need to be working on to get ready. Franchising is not a business tool that you can turn on high and be on your way, it takes scrutinization of your business as well as strategic planning well in advance of implementation. Do the Checklist Best Practices to Protect Trade SecretsTo protect its Intellectual Property Rights (“IPR”) by demonstrating that certain information qualifies as a trade secret, companies should consider the following: Creation of Operation ManualsBy: Lynne Shelton, Esq. When you, the Franchisor, retain Shelton & Power to review or write your operation manuals for your franchisees, you will receive a full review of your existing documents first, followed by a full comprehensive strategy meeting with upper level managers and trainers. Upon the discovery of the best outline for your franchise, we will provide a complete set of Franchisee Operations divided into at least 3 separate manuals, one manual for management and owners, one for employees of the franchisee and one specifically for confidential information. Operation ManualsBy: Lynne Shelton, Esq. When you, the Franchisor, retain Shelton & Power to review or write your operation manuals for your franchisees, you will receive a full review of your existing documents first, followed by a full comprehensive strategy meeting with upper level managers and trainers. |