by Kip R. Peterson and Dainel D. Ganter, Jr. Spring 2010 In Brief Newsletter Believe it or not, your business could be a FRANCHISE. If so, failure to comply with applicable laws and regulations could result in serious consequences. Ignorance of these laws and regulations is no defense. When most people think of a franchise they think of fast-food restaurants, fitness chains and hotels. However, Minnesota law broadly defines the term “franchise,” potentially expanding the reach of the franchise laws and regulations to include legal arrangements such as license agreements, consulting agreements, and distribution agreements. It is important to note..