At the same time, however, you need to be aware of the risks you face before you can begin to analyze them and decide what to do about them. By providing specific examples from your research, explain the specific actions required of a new business owner when starting a new business. The Franchise Rule gives potential franchise buyers the important information they need to weigh the risks and rewards of such an investment. The rule requires franchisors to provide all prospective franchisees with a disclosure document containing 23 specific pieces of information about the proposed franchise, its officers and other franchisees. The amended rule covers the offering and sale of franchises. As in the original rule, a trade agreement is a “franchise” if it satisfies three definitional elements. Specifically, the franchisor must: (1) promise to provide a trademark or other trade symbol; (2) promise to exercise significant control or provide significant assistance in the operation of the business; and (3) require a minimum payment of at least $500 during the first six months of operation (Wells, GC and Wieczorek, D. E..