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South Korea Enacts Franchise Legislation
The recently enacted South Korean Act on Fairness in Franchise Transactions (AFFT) went into effect on Nov. 1, 2002. According to the Korean government, the purpose of the AFFT is to establish 'fairness in franchise transactions and promote balanced and mutually complementary development on even terms between a franchisor and a franchisee for purposes of advancement of consumer welfare and a sound national economy.'
Apparently, the legislature felt that this type of legislation was needed in Korea because there was no law specifically directed at franchising despite its growing popularity there. 'This is a rationale that we have seen used to justify franchise regulation in other countries. Prior to the adoption of this act, the Korean government regulated franchise transactions through a regulation adopted by the Fair Trade Commission. The government believes that the AFFT will allow Korea to better control franchise transactions in that country.
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.