By Susan Grueneberg – IFA:
The final version of the amendments to the Federal Trade Commission’s Rule on Franchising was finally announced in early 2007.
Franchisors have until July 1 to convert their offering circulars to the new disclosure format and transform them into ‘Franchise Disclosure Documents.’ For more than 12 years, the FTC has conducted its rulemaking and franchising industry members have attended seminars, read articles, observed public comment periods and harkened to innumerable warnings about what living in the world of franchising under the new FTC rule will be like.
After 12 years of probing every nook and cranny of the changes to the rule, one would expect that issues about how to comply with it would have all been thoroughly explored and resolved. However, there are quite a few details that still require explanation.
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