Is Your Franchise Actually Illegal? [TBS 59 ft Damien Yeo]

Franchising can be one of the fastest ways to grow a business, but it can also become one of the costliest mistakes if you overlook the legal requirements.In this episode of The Financial Coconut Business Show, franchise lawyer and registered franchise consultant Damien Yeo unpacks the legal framework behind Malaysia's Franchise Act 1998 and explains why many businesses unknowingly cross the line from licensing into franchising. Simply calling your business a "licence" does not mean the law will see it that way.Damien breaks down the four legal elements that define a franchise, why registration matters, and the serious consequences businesses may face if they operate without complying with the law. From financial penalties to potential criminal liability, the risks are far greater than many entrepreneurs realise.Whether you are planning to franchise your business, evaluating a franchise opportunity, or deciding between a licensing and franchising model, this conversation offers practical insights into due diligence, legal compliance, and protecting both franchisors and franchisees.#TheFinancialCoconut #FranchiseLaw #Franchising🎧 *The Financial Coconut:* Your weekly source for empowering financial knowledge and unlocking possibilities. We explore personal finance, investing, and entrepreneurship to help you build a richer life. Join us as we explore personal finance, investing and more.Get ready to take control of your financial future and live your best life, financially wise: https://linkin.bio/thefinancialcoconut📍 *LISTEN & SUBSCRIBE*Spotify: https://rebrand.ly/TFC-spotifyApple Podcast: https://rebrand.ly/TFC-applepodcastYouTube: https://rebrand.ly/TFC-youtube🔗 *CONNECT WITH US*Get daily tips, insights, and community:Instagram: https://rebrand.ly/TFC-instagramTik Tok: https://rebrand.ly/TFC-tiktokTelegram: https://rebrand.ly/TFC-telegramWhatsapp: https://rebrand.ly/TFC-Whatsapp-channelNewsletter: https://rebrand.ly/TFC-Newsletter📺 *MORE FROM OUR NETWORK*Discover our other shows and deep dives on YouTube:https://www.youtube.com/@TheFinancialCoconutTFC/playlists Learn about our eventsHelp us get to know you better: http://bit.ly/thefinancialcoconut-survey Hosted on Acast. See acast.com/privacy for more information.