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How the New FDD Has Affected the Franchise Sales Process
Prior to the announcement of the revised Franchise Rule in January 2007, there was much speculation among franchisors as to how changes to the Rule would affect the sales process. The phase-in period between July 2007 and July 2008 was hectic for many franchisors as they worked with their legal counsel to transition to the new Franchise Disclosure Document (“FDD”) format and educated their sales teams on how the sales process would need to be adjusted to comply with the new Rule.
Little did franchisors know, of course, that the recession, which began about the same time, would be so devastating to their expansion plans. While the impact of the new Franchise Rule on the sales process has paled in comparison to that of the recession, franchisors have expressed their opinions as to how changes to the Rule have influenced their approach to the sales process. Based on what we have heard since franchisors have updated their FDDs, there are mixed feelings as to whether changes to the Rule have improved or complicated the sales process from the perspective of franchisors.
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.