OBS_VALUE: Foreign franchisors are not generally treated differently from domestic franchisors. Foreign franchisors must comply with the disclosure requirements under the FTC Rule, as well as any registration or disclosure or relationship laws (or both) promulgated by the states whose laws apply to any particular transaction or relationship (or both). A practical difficulty arises for foreign franchisors because the franchisor’s financial statements must be included in the disclosure document and those statements must be prepared according to United States generally accepted accounting principles, or be prepared in a way that is permitted by the United States Securities and Exchange Commission.