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Conference Review: Implementation of FTC Franchise Rule Draws Significant Attention at IFA Legal Symposium
With optional use of the updated Franchise Rule coming on July 1, 2007, and mandatory use beginning on July 1, 2008, the broad outlines of the Rule are well understood in the franchise industry even at this early point. Yet, as franchise attorneys work with individual clients, they are finding unique circumstances under which the Rule's guidance is confusing or even contradictory, particularly during the one-year transition period. Thus, two panel discussions at the International Franchise Association ('IFA') Legal Symposium on May 6-8 in Washington, DC, were the ideal opportunities for attorneys to raise what-if questions with regulators and their fellow franchise attorneys.
Franchise attorneys who see the changes in the Franchise Rule as incremental are interpreting it correctly, said Stephen Toporoff, franchise program coordinator for the FTC's Bureau of Consumer Protection. Speaking on both panels, Toporoff said the rule revision had four 'modest' goals:
- Reduce inconsistency between federal and state franchise laws;
- Reduce compliance costs for franchisors 'where warranted';
- Clarify for franchisees their relationships with franchisors; and
- Reflect technological innovation.
Consensus among panelists at the IFA Legal Symposium is that those goals were met, and compliance will become easier and less costly for franchisors as a result. 'The FTC did a great job assembling input from experts in the industry, representing franchisors and franchisees,' said Joel Buckberg, of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (Nashville), a panelist at the conference. 'It's a dynamic marketplace, and franchisees are better educated and better able to negotiate in their interests ' and the FTC deserves credit for realizing it.'
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.