Photo Credit:Reuters/Ahmed Jadallah Sunday, Mar 03, 2013
Dubai: Dubai Chamber of Commerce and Industry attempts several endeavours to revise the franchising law with the aim of easing business and protecting brands and investors in the UAE market.
With the participation of leading legal firms, a workshop reviewed and discussed UAE franchising laws, setting up a franchise and the challenges and risks associated with franchising and how to mitigate them.
The Dubai Chamber felt that modifying certain aspects in the franchising law will enhance the business of the local and international brands in the market as well as give more flexibility to organise business perspectives under proper legislative umbrella.
The initiative comes in line with the law issued recently to grant the Dubai chamber larger authority to promote UAE businesses.Jehad Kazim, Director, Legal Services Department, Dubai Chamber, said that franchising is an excellent opportunity for rapid growth with low capital investment. It allows quick market penetration and easy transfer of skills, making it a very attractive business concept to most business owners.
She added that franchise and agency agreements have a long track record of success in the UAE and have served as the foundation for bringing many international brands and products to the local market.Jehad remarked that the workshop tackled all legal perspectives of franchising which in turn will raise awareness about the concept overall and the obligations of the franchisee and the franchisor which are important elements for the success of the franchising business.
Laya Aoun Hani, Senior Associate at Habib Al Mulla & Company, added: ?It is important for those interested in franchising in the UAE to ensure they are aware of the intricacies associated with this form of business in this region. Having the right support and guidance from set-up ensures that the business is positioned for success.?
By Zaher Bitar Senior Reporter
Gulf News 2013. All rights reserved.
? Copyright Zawya. All Rights Reserved.
Source: http://www.zawya.com/story/Dubai_Chamber_seeks_to_revise_franchising_law-GN_03032013_040350/
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