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Features
In an article that appeared in the September 2008 issue, <i>Measuring Realization to Improve Firm Profits</i> by K. Jennie Kinnevy, the author's biography was inadvertently omitted.
The general view has been that unreasonable compensation claims against shareholder employees of professional corporations was not an issue. In <i>Pediatric Surgical Associates P.C. v. Commissioner</i>, the Tax Court determined that compensation paid to the shareholder physicians was unreasonably high because it exceeded the value of the services performed. Many law firm professional corporations could face this same issue.
In an ever-increasing competitive environment, it becomes more and more difficult for law firms to distinguish themselves from their competitors. A quick scan of some of the better-known firm Web sites shows that many firms often look and sound alike. However, it is the quality and caliber of the attorneys that set the firms apart. Saying you're distinctive is much easier than proving it to the marketplace, your partners and staff. One area in which your firm can build distinction and establish itself as a leader is Partner Care.
Features
Closely held businesses produce over 50% of the Gross National Product ("GNP"). Less than 50% of these businesses have a continuation plan and almost one-third of these companies (29%) use a buy-sell arrangement to assist in their planning. Buy-Sell agreements are very simple tools that over the years have grown to meet increasing needs of closely held businesses.
Features
CA Supreme Court: No 'Narrow Restraint' Exception to Prohibition on Covenants Not to Compete
What can a franchisor do if some of its franchisees or business partners (who are not parties to the litigation) are slapped with broad and burdensome subpoenas from disgruntled franchisees or potential franchisees in litigation? In many cases, the answer may be nothing. The Federal Rules of Civil Procedure generally do not allow a party to seek to enforce the rights of others (many states have analogous rules, as well).
In Canada, franchise disclosure documents ('FDDs') are not reviewed by any government agency. It is up to the franchisor to prepare and deliver the document correctly, failing which the franchisee can, for a limited period of time, send in a rescission notice.
This is the fifth and final entry in a series of articles discussing how in-house counsel can better manage litigation matters.
The Canada-based, Louisiana-flavored B'ton Rouge franchise system features ribs, beef, and fish in a casual-dining atmosphere, with about 20 franchised restaurants operating in Qu'bec and Ontario. One of the Ontario locations is the battleground for the case to be outlined in this article: <i>4287975 Canada Inc. v. Imvescor Restaurants Inc. et. al.</i>