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Insurance, Indemnification and the Franchise Relationship: How to Make 'Belt and Suspenders' Work for Your Business
Contractual relationships create situations involving the transfer of risk among parties, and franchise relationships are no exception. Typically, the parties to a franchise agreement will rely on two different methods to apportion risk and provide themselves with protection: insurance and indemnification. Often referred to by the metaphor, “belt and suspenders,” the idea is to have two separate avenues of protection, and therefore to be doubly protected in the event of a loss or claim. But unless one is aware of the potential pitfalls, even so-called “iron-clad” indemnification clauses or insurance provisions in a franchise agreement can be all for naught.
This article discusses the interplay between insurance, indemnification, and the default common-law rules, so that franchisors and franchisees can avoid those dangerous pitfalls.
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.