12 Int'l J. Franchising L. 3 (2014)

handle is hein.journals/intjoflw12 and id is 1 raw text is: UNIFORM INTERNATIONAL DISCLOSURE DOCUMENT

PROS AND CONS OF USING
A UNIFORM INTERNATIONAL
DISCLOSURE DOCUMENT
Leonard Polsky, Gowling Lafleur Henderson LLP, Vancouver, Canada,
Luciana Bassani, Dannemann Siemsen Advogados, Rio de Janeiro,
Brazil, Philip Colman, Mason Sier Turnbull, Melbourne, Australia,
Remi Delforge, Remi Delforge Avocats, Paris, France, Gary Duvall,
Dorsey & Whitney LLP, Seattle, USA
This article explores the feasibility of using a standard international franchise disclosure
document, as a starting point, containing the information about the franchisor, franchise
offerings, franchisees and franchisor outlets, which would normally be provided in most
disclosures. The international franchisor would then work with local counsel to conform or
add to the document for specific transactions and use in a country to comply with local
franchise disclosure law requirements, if any, through specific addenda or statements of
material changes, or by using the contents of the international franchise disclosure
document in preparation of a locally compliant franchise disclosure document. The authors
discuss the relative advantages and disadvantages of this approach, versus other
approaches, from the perspective of various countries and regions having existing and
mature franchise disclosure laws in place.

1.      AUSTRALIA PERSPECTIVE
1.1.    Introduction
Australia has a common law based legal system. In
Australia, federal laws exist which govern the
conduct of franchisors and franchisees, including the
disclosure   obligations    of   franchisors.   No
governmental filings or registrations are required in
Australia.
This article was originally prepared as a paper given at the
29th Annual IBA/IFA Joint Conference on International
Franchising in Washington DC, USA, 7-8 May 2013.

The disclosure obligations of franchisors are
contained in the schedule to the Trade Practices
(Industry Codes - Franchising) Regulations 1998,
entitled Franchising Code of Conduct (the
Code). The Code is a prescribed mandatory
industry code under the Competition and Consumer
Act 2010 (Cth) and is underpinned by that Act by
virtue of that Act providing that a corporation must
not, in trade or commerce, contravene an applicable
industry code'.

1 Section 51AD

International Journal of Franchising Law
Volume 12 - Issue 1 - 2014
C Claerhout Publishing Ltd.

3

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