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Enforcing System Standards When Franchisees Have Long-Term Contracts
A franchisor's ability to enforce system standards and sustain the positive image of the brand is critical to the long-term success of a franchising system. To some degree, a franchisor's threat of termination or non-renewal contributes to that enforcement effect. But what can a franchisor do when a contract has a long duration and/or a franchisee has a strong legal presumption of renewal?
Two professors at the University of Munster (Munster, Germany) found significant modifications in a franchise's governance structure, as defined by its contract with franchisees, when a franchisor's capacity to threaten termination or non-renewal is significantly limited. The findings of Profs. Oliver Cochet and Thomas Ehrmann were presented in a paper at the 19th Annual Conference of the Inter-national Society of Franchising last year, “The Effectiveness of Con-tractual Self-Enforcement and Implications for the Governance Structure of Franchising Firms.”
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
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.