(a) The General Assembly finds that:
(1) the widespread sale of franchises has created many investment and business problems; and
(2) franchisees have suffered substantial losses when the franchisor or its representative has not given complete information about:
(i) the franchisor-franchisee relationship;
(ii) the franchise agreement; and
(iii) the business experience of the franchisor or its representative.
(b) The intent of this subtitle is to:
(1) give each prospective franchisee necessary information about any franchise offer;
(2) prohibit the sale of franchises if the sale would lead to fraud or a likelihood that the franchisor’s representations would not be fulfilled; and
(3) protect the franchisor-franchisee relationship.