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News Briefs
South Dakota Eases Franchisor Filing Requirements
Effective July 1, 2008, franchisors will have a streamlined process for filing Franchise Disclosure Documents ('FDD') in South Dakota. The South Dakota Division of Securities has enacted and Gov. Mike Rounds signed the South Dakota Franchise Investment Act of 2008 that will coordinate the state's filing requirements with the new federal FDD that is required as of July 1. A franchisor will only be required to file one copy of the most recent FDD and to update it annually.
'Coordinating with the new federal disclosure rules and FDD was a prime factor in making the changes,' said Gail Sheppick, director of the Franchise Office of the South Dakota Division of Securities, which oversees franchising in the state. 'Basically what the new law does is coordinate our definitions and disclosure rules with federal law. The purpose is to make it easier and less costly for franchisors to file in South Dakota, while we maintain our ability to enforce the rules against those who abuse the process.'
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.