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The sale of a franchise by a franchisee for the franchisee's own account and the sale of the entire area franchise owned by a subfranchisor for the subfranchisor's own account are exempted from s. 553.21 if the sale is not effected by or through a franchisor. A sale is not effected by or through a franchisor merely because a franchisor has a right to approve or disapprove a different franchisee or because a franchisor imposes or has the right to impose a fee or charge to reimburse the franchisor for reasonable and actual expenses incurred in connection with the sale.
Cite this article: FindLaw.com - Wisconsin Statutes Securities and Investment (Ch. 551 to 553) § 553.23. Private franchisee and subfranchisor sales exempted - last updated January 01, 2018 | https://codes.findlaw.com/wi/securities-and-investment-ch-551-to-553/wi-st-553-23/
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