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How 7-Eleven Developed a New System-Wide Franchise Agreement: Process and Results
Part Two of a Three-Part Series
In the first installment, published in July, we provided the background and general arrangements and actions 7-Eleven used in developing a new franchise agreement for virtually its entire 3400-store franchise system. In this installment, we discuss what occurred and why and what was learned from this effort. Please refer to the first installment for defined terms.
In 2001, 7-Eleven, Inc. (“7-Eleven” or “the Company”) needed a new franchise agreement. Several factors contributed to this need, including: 1) there were about 900 franchisees whose agreements were to expire around Dec. 31, 2004; 2) the class action settlement entered into between the Company and certain franchisees required a new agreement at the same time; 3) the 7-Eleven system had approximately 18 existing different franchise agreements in place, and administration of them was complex; 4) 7-Eleven's business concept had changed and expanded and was showing good results, but the existing agreements were not as aligned with the concept as they could be; and 5) the administration of a large system (approximately 3400 franchised stores) could be made much simpler with most franchisees on a new agreement.
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.
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.