Name: Justin M. Klein
Firm: Marks & Klein, LLP
About Your Firm: Marks & Klein, LLP is a preeminent boutique franchise and business law firm. With office locations in the heart of New Jersey, New York, Chicago, and Boca Raton, Marks & Klein, LLP is on the cutting edge of the legal world and focuses on providing conscientious, thorough and effective legal counseling for all of our clients on every matter. Marks & Klein, LLP have handled some of the largest and most prominent franchise transactions and litigations in the industry in the United States and internationally.
What makes your firm stand out as a resource for the franchise industry?
We have the unique position of being at the forefront of some of the largest and most impactful transactions and litigation matters in the franchise industry so our depth of knowledge is really second to none as a result of being involved in those matters.
What is the No. 1 thing a franchisor/franchisee should look for when identifying the right franchise attorney?
The attorney/client relationship, like any, is based on trust. First and foremost, you have to like your attorney...and that can be a hurdle many times in any relationship - simply because someone has a skill doesn't mean they are a right fit for your needs or your personality. Most critically though is choosing a franchise attorney with experience - not only subject matter experience but industry experience.
When it comes to your work, what makes you happiest?
I have been fortunate to be surrounded by a great team that really makes doing what we do enjoyable.
What are your top concerns for the franchise industry in the next year?
I am most concerned about the speed and rapidity with which concepts or individuals are jumping into franchising without doing proper due diligence, and without using qualified industry professionals to guide them. This holds true for both franchisors and franchisees. Understanding what it means to be a franchisor or a franchisee needs more focus and if it is overlooked, I anticipate significant business failures.
What are you most optimistic about in the franchise industry in the next year?
I am excited about all of the large franchisee transactions that are going on. Not only because it is great to see people see the fruits of their investment labor - but, because it continues to add credibility to this ever growing and changing industry.