Mr. Akeem, a Lagos-based lawyer, spoke on the legal implications of franchising in Nigeria. In his brief speech, he said that Law is an instrument of social control and that franchising is based on the Laws of Contract. However, minimum concession and maximum aspirations must be embodied in a franchise agreement. Each of the parties involved should also secure the services of an Attorney. A franchising agreement must be signed, which makes it a secure legal document. He advised all potential franchisees and franchisors to “look well before you leap” before entering into a franchising agreement. During a question and answer session, a member of UNILAGfaces.com asked this question: “In the interpretation of the law, one takes into consideration what the lawmaker had in mind when formulating the law. Since there are no well-articulated laws as regards franchising in Nigeria, all that is left is the use of the laws of contract and partnership in implied contexts. This in itself could lead to many technical problems. What is the legal profession doing to encourage the National Assembly to promulgate well-articulated laws regarding franchising? In response, Mr Akeem said that franchising is based upon laws relating to contract and partnership. The fact that everyone has the freedom to enter into any contract that he chooses, he must make sure that the terms of agreement must be according to conditions that will work in their interest. The agreement must be written and unambiguous.
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