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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 www.iflweb.com