Lexis Nexis Exemptions and Exclusions under Federal and State Franchise Registration and Disclosure Laws
While all franchises are required to register and file disclosure statements, there is significant variation among states and also among laws at the federal level. Because of this, individual states differ in defining what circumstances warrant an exemption from the regular disclosure and registration requirements.
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While all franchises are required to register and file disclosure statements, there is significant variation among states and also among laws at the federal level. Because of this, individual states differ in defining what circumstances warrant an exemption from the regular disclosure and registration requirements. Reasons for seeking an exemption vary, beginning with using an as a general strategy to avoid the rigmarole of preparing and updating a Franchise Disclosure Document (FDD); franchisors just starting to franchise who want to see if franchising is the right approach to grow their business before investing time and money in preparing an FDD; a way for an established franchisor who hasn’t registered in all states to quickly be able to offer and sell to a prospective franchisee in a state where the franchisor had not already registered; or there may be specific aspects of franchise laws, such as financial performance restrictions, which franchisors would like to avoid.
Following a uniform format for ease of reference, this state-by-state summary reviews the exemptions that are available under federal and state laws. After introductory chapters that discuss the exemptions and exclusions available under federal law and the interplay between federal and state exemptions, state-by-state chapters follow the same organizational structure to summarize the exemptions and exclusions for each jurisdiction.
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