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Managing a Franchise System When 'Game-Changers' Arise
One of the difficult balancing acts encountered by all franchise systems is between the relatively static nature of the franchise agreement and the dynamic, impossible-to-predict changes that occur in the real world. At the 34th Annual ABA Forum on Franchising, held in Baltimore on Oct. 19-21, two industry veterans with perspective as senior in-house counsel spoke about how in-house counsel can identify potentially “game-changing” developments and lead their organizations' response.
There are good reasons why franchise contracts have fairly long terms, said Joel Buckberg, formerly executive vice president and deputy general counsel for Cendant Corporation, and currently of counsel to Baker Donelson Bearman Caldwell & Berkowitz, P.C., in Nashville. Franchisees need to amortize the cost of purchasing a franchise and making bricks-and-mortar investments without undermining the short-term cash flow needed to grow the business. Also, franchisees find it easier to obtain necessary loans if they have a long-term contract in place. “But at the same time, markets are dynamic,” Buckberg said. “[Court] decisions change the landscape. Technology is constantly evolving. Consumer preferences change. Who would have thought five years ago that social media would be a major form of marketing for franchises?”
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.