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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?”
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.