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Court Confirms Power of KFC Advertising Cooperative to Modify Corporate
Advertising Plans
In 1997, as part of the settlement of a class action lawsuit between Kentucky Fried Chicken Corporation (“KFCC”) and its franchisee association, a new Certificate of Incorporation dealing with the governance of the KFC National Council and Advertising Cooperative (“NCAC”) was filed. The NCAC is a Delaware non-stock corporation that was founded more than 40 years ago to oversee the spending of the $150-million-plus in advertising funds collected annually from both company-owned and franchised KFC stores. The new Certificate of Incorporation divided various advertising duties and responsibilities between KFCC and the NCAC. The NCAC governing Committee has 13 franchisee members and four KFCC-appointed members. Under the agreement represented by the new Certificate, KFCC has the right to hire and fire the national advertising agency that develops and implements the annual KFC advertising program. KFCC also has the right under the Certificate to “develop national advertising, public relations and media plans and strategy.” However, among the powers of the governing committee of the NCAC is the power “to plan and approve each ensuing year's advertising program.” Over the years, KFC's advertising agency developed each year's advertising plan, the NCAC would approve or disapprove it, and then the agency would implement it. On occasion, prior to the system specified in the new Certificate, the NCAC would modify the plan before approving it.
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.
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 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 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.
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.