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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.
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.