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Is your business systemised? Are your procedures documented and your business concept sound?
If your business model can be replicated you may be able to extract value from your business without selling it!
Build a franchise system or licence your business model to other business people to use.
Let us help you decide if a Licence or Franchise is more appropriate for your business.
Strength Through Knowledge
We are not just business lawyers. We are commercial property owners and landlords also.
There is more to leasing law than signing a lease. The Property Law Act, The Retail Shop Leases Act and other legislation governs the behaviour of commercial landlords and tenants.
If a retail shop lease is not properly issued a tenant may have a right of termination for up to six months.
Use our knowledge to avoid pitfalls. Make sure you understand your rights and obligations.
Strength Through Knowledge
Whether you are buying, selling, or growing a business, you need the right lawyer to partner you. Make sure that you avoid unknown risks that can derail your plans. We are business people first, let us negotiate the legal contract and take your transaction to a successful conclusion.
Strength Through Knowledge
RIBA BUSINESS LAWYERS
Maroochydore (07) 5479 1488 Brisbane (07) 31032226
Franchisors need to get ready for changes to the Franchising Code of Conduct beginning on 1 January 2015. On 1 January 2015 all Franchisors must be complying with the New Code. Some of the provisions…Read more
Franchising can be a great way to create wealth, both for Franchisors and Franchisees. The most successful Franchise systems are those that are focused on the success of their franchisees. The understanding that the success…Read more
Franchise disputes must be resolved in a particular way. Franchisors who are not prepared to be nice, should beware! There are good reasons why a franchisor should listen carefully to their franchisees and make genuine…Read more
A local barrister recently published a paper which is of assistance for anyone wanting to understand Family Provision Applications. Family Provision Applications come about as a result of section 41 of the Succession Act Queensland….Read more
Franchisors need to get ready for changes to the Franchising Code of Conduct beginning on 1 January 2015.
On 1 January 2015 all Franchisors must be complying with the New Code.
Some of the provisions relating to restraints of trade in the New Code will not however apply to Franchise Agreements entered into before 1 January 2015.
The Australian Competition and Consumer Commission is hosting a free Webinar on Tuesday 9 December 2014 from 12pm.
Some of the important changes that will be implimented will require Franchisors to change their processes and their ways of dealing with people and problems. By way of example the changes to the Code will require franchisees and franchisors to act in good faith when dealing with each other.
The New Code will also introduce:
1. new fines and penalties for not complying with some areas of the Franchising Code.
2. more transparency in relation to the use of Marketing funds
3. simplified disclosure requirements.
The Government has completed a regulation impact statement. For those who may be interested this statement considers the benefits and costs of the code changes. Follow this link
The draft regulations and bill have also been released for comment. The new code is available at comlaw. To view please follow this link
Red Tape Removal
Increasing Clarity of Information
1. Franchisors will now have to provide a short information for sheet which gives an overview of the risks and benefits of Franchising. The statement will include information about:
2. Online trading of the Franchisor must be disclosed
3. Franchisors must remind franchisees of their entitlement to a current disclosure document.
4. The franchisor must if the Franchisee does not hold the lease, provide details of any incentives.
Balance of Power between Franchisees and Franchisors
1. Franchisors must not impose significant capital expenditure upon franchisees unless:
2. It is not possible to require a franchisee to pay the franchisors costs associated with the dispute resolution process, nor may a franchisor require any dispute resolution to take place outside the state in which the franchisee operates.
3. Franchisors must not impose unreasonable restraints on Franchisees. Prior to the implementation of these changes a franchisee might have been prevented from benefiting from the good will which the franchisee helped to create. The door will now be opened to the possibility of a franchisee operating a similar business after the end of the franchise agreement. I would suggest that this will mean that franchisors are now much more likely to ensure that they control the lease of any premises. New strategies must now be developed to assist Franchisors protect the good will of their franchise system.
4. Corporate Stores and Operations of the Franchisor cannot benefit from the Marketing fund unless they are contributing to that fund.
5. An obligation of good faith is now imposed upon both parties to the Franchise Agreement. This amendments is well intended however it is likely that it will give rise, at least initially, to an increase in litigation as this is a broad concept that is likely to be tested.
6. The consequences of a serious breach of the Code will now include a fine of up to $51,000.00
7. The ACCC may now use its audit powers to obtain documentation from the Franchisor.
Once 1 January 2015 ticks over it will not be possible for a franchisor to lawfully issue new Franchise documents unless they have prepared a new Disclosure Document which complies with this new Code.