This disclosure document summarizes certain provisions of your franchise agreement and other information in plain English. The most significant legal requirement for franchising a business is the development of a Franchise Disclosure Document ("FDD").Franchisors must register a franchise with the Virginia Corporation Commission before selling or offering to sell a franchise. Virginia is a franchise registration state. Franchisors must provide accurate and complete information in the Franchise Disclosure Document (FDD). Some other documents involved in forming a franchise include letters of intent, trademark license agreements, and operations manuals.