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SACRAMENTO –Yesterday, Assemblyman Scott Wilk's, R-Santa Clarita, Assembly Bill 2637, which would amend the California Franchise Investment Law to make the negotiation process more efficient between both franchisees and franchisors, passed the Assembly Appropriations Committee unanimously.
“The idea behind AB 2637 is to help facilitate the negotiation process between franchisors and franchisees in order to make the operation of franchises in California more efficient,” Wilk Said. “AB 2637 will help the parties bypass a currently cumbersome process and assist in creating more cooperative negotiations.”
AB 2637 will simplify the negotiated sales of franchises in instances where all parties are in agreement about the terms of the amendments being negotiated. Doing so will help expedite the negotiation process between parties and, as a result, help improve operation of franchises within California.
The measure will next be heard on the Assembly floor.