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Changing the Rules: Requiring Franchisee Compliance with Future Performance Standards
In today's world, franchisors frequently design franchise contracts to govern relations with franchisees for several years. As a result, it is critically important that franchisors be permitted to set reasonable performance requirements, not only for the present, but periodically over the life of the agreement.
There are several methods for creating contractually enforceable performance requirements, but in most cases a franchise contract contains general statements of performance obligations, such as “best efforts,” “adequate sales,” “sufficient inventory,” and “continuous and systematic sales efforts.” Some contracts supplement general performance provisions with a standards manual defining the details of many performance obligations under the franchise contracts. Other contracts simply reserve the right to set annual performance obligations, based on what the franchisor believes to be reasonable expectations of performance, given current market conditions.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.