Jonathan Klick, Bruce H. Kobayashi, Larry E. Ribstein
The Effect of Contract Regulation on Franchising
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- 10.1628/093245612799440087
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Previous work on the regulation of termination clauses in franchise contracts has ignored the ability of parties to contract around state law. Using data on two national fast-food restaurants, we find that Washington, D.C.'s termination restriction which did not restrict choice-of-law provisions had little systematic effect on business practice, while Iowa's termination restriction which did prohibit choice-of-law provisions had a large negative effect on franchising.