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Parent Disclosure Under the Amended FTC Rule: The Parent Exposed
In the October/November 2004 Special Issue of FBLA, we speculated that if there was one group that may be unhappy about the Federal Trade Commission ('FTC') Staff Report's proposed revisions to the FTC Franchise Rule, it had to be the parents of franchisors (or maybe franchisors who have parents). Now that the FTC has released the final amended FTC Franchise Rule, we know that a parent's disclosure burden will be increased. One provision may have a profound effect on how certain franchise companies do business. Because there are some ambiguities in what is being required, it may be prudent for the FTC to clarify its intention in the Guidelines it plans to issue.
While the existing FTC Franchise Rule currently requires disclosure of certain information about a parent, most franchisors currently comply with the UFOC Guidelines, which do not directly reference the 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 final amended FTC Franchise Rule directly addresses parent disclosure and adds this definition: 'Parent means an entity that controls another entity directly, or indirectly through one
or more subsidiaries.' 16 C.F.R. '436.1(m). The focus is on control, not ownership. Final Rule, p. 53 (the reference is to the Final Rule document released by the FTC on Jan. 23, 2007).
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.
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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?