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Despite the obstacles that franchise businesses have faced in recent years, franchising has persevered and continues to stand strong and grow. The International Franchise Association (IFA), in its most recent 2024 Franchising Economic Outlook released in February (2024 Franchising Economic Outlook), found that franchising in 2023 exceeded projections and expanded by about 2.2% to reach a total of over 806,000 franchise establishments, approximately 18,000 more than in 2022. Franchising’s contribution to the overall 2023 economy remained stable at 2.9% (over $850B). Franchise employment in 2023 also increased 2.9%, with an estimated 200,000+ jobs.
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By Howard B. Epstein and Theodore A. Keyes
Many businesses have sought to recover their pandemic losses under commercial property insurance policies, only to be denied coverage. A significant number of policyholders have filed lawsuits challenging these disclaimers, primarily in state courts. But to the dismay of the insureds, a growing majority of high state courts have sided with the insurers in these disputes.
Navigating the Intersections of Commercial Real Estate and Eminent Domain Actions
By Ellen Smith and Elizabeth Story
For real estate attorneys, knowing how to navigate around eminent domain actions in the midst of various transactions and operations is critical to best position clients for the future condemnation conundrum.
A Prepackaged Bankruptcy Could Be the Answer to a Mortgage Default
By Timothy Little, Scott Vetri, Julie Lee and Peter Siddiqui
This article discusses the value of prepackaged bankruptcy as an alternative route for addressing commercial mortgage defaults in high tax jurisdictions.
NJ Supreme Court: Commercial Property Owners Have a Duty to Maintain Abutting Sidewalks
By Colleen Murphy
In a 4-3 decision on June 13, the New Jersey Supreme Court reversed an Appellate Division opinion in a slip-and-fall case, concluding that all commercial landowners have a duty to maintain public sidewalks and are liable to pedestrians who are injured as a result of their negligent failure to do so.