What type of reports should franchisors submit to the government?

Franchisors operating in North Carolina must submit several reports to the government in order to comply with state laws. The most important of these reports are the Initial Franchise Disclosure Document and the Post-Sale Disclosure Document. The Initial Franchise Disclosure Document must provide potential franchisees with full disclosure of the legal relationship between franchisors and franchisees. This document must include information on the franchise’s historic performance, products and services, financials, business obligations, and more. It must also include any information specifically required under North Carolina franchise law. The Post-Sale Disclosure Document must be submitted to the North Carolina Secretary of State within 90 days of the franchise sale. This document provides proof of the sale of the franchise and must include the purchase price, the identity of the franchisor and franchisee, the date of execution, and more. Additionally, franchisors must submit an annual report with the North Carolina Secretary of State. This report must include basic information such as the name and address of the franchisor, any registered agents, a list of shareholders, and more. Overall, franchisors operating in North Carolina must submit several reports in order to comply with state laws. These reports include the Initial Franchise Disclosure Document, the Post-Sale Disclosure Document, and an annual report.

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What type of reports should franchisors submit to the government?

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