(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.