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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).
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?
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.
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.
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.