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In the Spotlight: The New York Franchise Act
Franchising is a relatively new body of law with a complex regulatory scheme. Both the franchise sales process and the relationship between franchisor and franchisee during the term of the franchise are regulated. At the federal level, the Federal Trade Commission (FTC) requires franchisors to make prescribed disclosures to prospective franchisees, and, in addition, some 13 states have similar disclosure requirements and make franchisors register their selling efforts with the state. Fortunately, the state and federal disclosure requirements are very similar, but not exactly the same, leading to some need to have slightly different documents in order to comply with both federal and state disclosure requirements.
On the relationship side, approximately 22 states have adopted statutes of general applicability that govern various aspects of franchise arrangements once the franchise relationship has been established. These may include protection of franchisees from unjust terminations or nonrenewals, limiting the rights of franchisors to disapprove assignments or product sourcing, encroachment restrictions on the franchisor, and protecting franchisees' freedom to associate with other franchisees.
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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.