You will recall that we examined a Franchisor’s potential $10,000,000 penalty for a failure to disclose changes to a Franchisor’s Intellectual Property within 14 days of the change occurring.   There are number of situations in which a Franchisor may incur such a penalty if it fails to disclose materially relevant facts within 14 days of occurrence.   Another situation of which Franchisors may not be aware includes interim updates of  Financial Statements or Aud...

Our Principal, Elizabeth Gore-Jones will be speaking on Friday 16 September 2022 at the Legalwise Seminar - Drafting Franchise Agreements. This is a webinar presentation and the link to book to attend can be accessed here: https://legalwiseseminars.com.au/course/?eventtemplate=2403-drafting-franchising-agreements-under-the-new-code&event=9203   The webinar will examine the impact of the new Franchising Code of Conduct on drafting franchise agreements, disclosure documents,...

Recent changes to the Franchising Code of Conduct introduced penalties if Franchisors fail to disclose materially relevant facts within 14-days of their occurrence.   The new penalty regime means that a Franchisor who fails to comply with its obligations may be liable for a penalty being the greater of:   a.       10 million dollars;   b.      3x the value of the benefit the Franchisor obtained from the contravention;...