Unlock the Power of Electronic Signature Lawfulness for Franchise Contract in Australia

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- Franchising is a really big deal in Australia about one in $11 generated in our economy is through a franchise system. It's a great model of entrepreneurship where you have that mutually supportive relationship between franchisee and franchisor motivated by the success of the franchisee. This week, another big deal happened, a strengthening of the franchise code. It ensures that the people who are thinking about entering into a franchise business investment, have all the relevant information that they need. What's the nature of the risks that they're considering, what are the leasing arrangements for property that might be part of the arrangement? Are there any rebates that are another part of the relationship between the brand and some of their suppliers? These are important considerations as well as major capital investment expenditure that might be on the radar screen so prospective franchisees can make really good informed decisions. That's good stuff. And supported with the establishment of a franchise register, that's on the way as well. This is a great week for franchising. There's also an opportunity though to get problems that might arise sorted out quickly. The franchise code encourages businesses to sort it out within their brands and systems. But if that doesn't happen, my office can help. We can facilitate good discussions to see if we can find a result in an outcome or we can facilitate mediation. What's new about this week's announcement though, is if the parties agree, we can send a grievance or a dispute off to arbitration and get it resolved that way. These are great news, great week for franchising. Franchising is a great way of pursuing entrepreneurial activities when it's done well and a really important contributor to our national economy.