Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Parent Disclosure: Why Is Everybody Always Picking on Me?
If there's one group that may be unhappy about the Federal Trade Commission (FTC) Staff Report's proposed revisions to the FTC Franchise Rule, it's got to be the parents of franchisors (or maybe franchisors who have parents). The FTC really zapped it to parents, increasing the franchisor's disclosure burden with respect to its parent.
The current UFOC Guidelines do not define “parent,” although the Item 21 Instructions say that a company owning 80% or more of a franchisor may be required to include its financial statements. The FTC Staff Report recommends adding a definition of parent: “an entity that controls the franchisor directly, or indirectly through one or more subsidiaries.” (Proposed Section 436.2(m).) This definition is broad and at first blush seems appropriate, until we understand the impact the definition will have on franchisors and their parents. This definition affects Items 1, 3, 4 and 21. While the FTC Franchise Rule currently requires disclosure of certain information about the parent, most franchisors comply with the UFOC Guidelines, which do not directly reference the parent. Let's review the impact of the FTC Staff Report.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.