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Contract Litigation
In today's world, where it's more competitive than ever to be a franchisor or franchisee, there is now one more thing to worry about: contract litigation. It is more prevalent, complicated, and prohibitive ' and worse yet, according to the Bureau of Justice Statistics of the U.S. Department of Justice, one-in-three plaintiffs (33%) lose their contract disputes at trial. From construction contracts, to supply contracts, to equipment leases, franchisors and franchisees might face the problem of litigating numerous legal disputes simultaneously. This, of course, can be devastating for a business, whether big or small. So what can you do to avoid these pitfalls?
First, know your risks. Too often, both franchisors and franchisees assume they are exempt from certain liabilities. Take the recent decision in Massachusetts against the franchisor Coverall North America, Inc., a national commercial cleaning service. It chose to pursue a business model that treated its franchisees as independent contractors, reducing its costs and increasing flexibility, but a U.S. district court judge disagreed. Of course, many have argued that the judge's ruling was overreaching; nevertheless, Coverall was exposed to significant risk.
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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?
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.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.