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Read need-to-know updates, commentary, and analysis on Franchise issues written by leading professionals.

12 O'Clock High-Episode 67 Leadership Lessons from the Grant Presidency

by Thomas Fox on

In this episode, Richard Lummis and consider the leadership lessons from the Presidency of US Grant. The lessons include: 1. Reconstruction and the Civil Rights Acts, leading to the passage of the 15th Amendment; 2....more

Biometric Data in the Workplace Could Trigger Privacy Litigation Wave

by Jones Day on

The Situation: While biometric data (such as fingerprints, facial recognition technology, and iris scans) can be used effectively in the workplace, privacy advocates worry that anonymity could be undermined, and plaintiffs'...more

2017 End of Year Plan Sponsor “To Do” List (Part 3) Executive Compensation

by Snell & Wilmer on

As 2017 comes to an end, we are happy to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end...more

The UK Criminal Finances Act 2017: tax evasion implications for franchisors – action steps

by DLA Piper on

The Criminal Finances Act 2017, now in force in the United Kingdom, introduces two new criminal offenses in respect of the facilitation of tax evasion. The new offenses will be committed where a corporate entity or...more

SBA to Require Franchisors Be Listed on Franchise Directory for Franchisees to Be Eligible for SBA Financing

by Snell & Wilmer on

Effective January 1, 2018, the U.S. Small Business Administration (SBA) will only process loans to fund the acquisition and development of new franchises if the franchisor is listed on the SBA’s new Franchise Directory....more

Day 21 of One Month to More Effective Compliance for Business Ventures-Frachising

by Thomas Fox on

Most franchisors have thorough financial vetting requirements before allowing any person or business to become a franchisee. However, how many of these same businesses perform compliance due diligence on their prospective...more

Second Circuit Rules on Chapter 11 Cram-Down, Make-Whole, and Subordination Issues

by Jones Day on

The Situation: In In re MPM Silicones, L.L.C., secured noteholders argued that replacement notes distributed to them under a cram-down chapter 11 plan should bear market-rate interest rather than the lower formula rate...more

Is a Series LLC Right for Your Business?

by Mintz Levin on

The Series limited liability company (the “Series LLC”) is more nuanced than an ordinary limited liability company, and for the right user, it provides flexibility that will streamline administration better than other...more

“Whole Business” Restaurant Securitizations

by King & Spalding on

In recent years, many of the largest restaurant brands in the United States have utilized securitization techniques to secure financing, specifically in the form of a “whole-business” securitization of franchise royalties and...more

Q&A with Scott and Celia Catlett - Insights From the Restaurant Industry

by King & Spalding on

In this edition of the Franchise & Hospitality newsletter, we open with an interview of Scott and Celia Catlett. Scott is the Vice President and Deputy General Counsel at YUM! Brands, Inc. (the owner of the KFC, Pizza Hut and...more

Across the Board-Episode 7, Brad Davis on the Board's Role in Data Security Oversight

by Thomas Fox on

In this episode I visit with data and IT security expert Brad Davis, CEO of EverSolve, a company specializing in data security. We discuss the role of the Board of Director's in data and IT security in both oversight and...more

New guidance for lawyers advising businesses on human rights risks

by DLA Piper on

On 17 July 2017, the International Bar Association Legal Policy and Research Unit (LPRU) released a Handbook for Lawyers on Business and Human Rights to provide guidance for business lawyers and their corporate clients on how...more

Leadership Lesson from Andrew Jackson and Veto of the Second Bank Charter

by Thomas Fox on

In this episode, I consider the leadership lessons which can be drawn from our 7th President Andrew Jackson. I focus largely on the crisis surrounding the charter of the Second National Bank of the United States, which played...more

Financing Hotels in the United States: Key Considerations

by Shearman & Sterling LLP on

Hotels differ from other types of stabilized properties in several major ways. The purpose of this article is to highlight how the distinguishing factors impact the way that owners and lenders approach the negotiation of key...more

FCPA COMPLIANCE REPORT-EPISODE 337, JAMES GELLERT ON ASSESSING 3RD PARTY FINANCIAL HEALTH FOR COMPLIANCE

by Thomas Fox on

In this episode, I visit with James Gellert, CEO of RapidRatings, a company which uses a financial dialogue to determine third party supplier health and viability. Gellert explains what supply chain resilience is and how...more

US Supreme Court: Five-Year Statute of Limitations Applies to SEC Disgorgement

by Morgan Lewis on

The Court’s opinion resolves a circuit split concerning the reach of disgorgement orders....more

Content from PK Law: 5 Questions with Ken Jacobs 9Round

by Pessin Katz Law, P.A. on

After receiving an employee severance package from Air Products in Sparrows Point, Ken Jacobs and his wife Julie considered numerous franchise concepts before settling on 9Round, a kickboxing gym that is rapidly expanding....more

Franchise Compliance: Franchising infringement notices and pizza

by Dentons on

A recent decision by the ACCC to issue infringement notices to a franchisor demonstrates the need for franchisors to comply with the ongoing disclosure requirements to franchisees under the Franchising Code of Conduct....more

When are Parent Company Financial Disclosures Required?

by LeClairRyan on

A franchisor selling franchises in the U.S. must disclose its audited financial statements in Item 21 of the franchise disclosure document (FDD). Sometimes, parent company financials are used instead of the franchisor’s...more

Commonwealth Court Unanimously Holds that Local Business Privilege Tax Must be Fairly Apportioned

by Cozen O'Connor on

A panel of the Commonwealth Court unanimously held that a local Business Privilege Tax (BPT) imposed on fees paid by Pennsylvania 7-Eleven franchisees to 7-Eleven’s regional office in the township was unconstitutional because...more

A "reasonable basis" for FPRs: what to expect this renewal season from state franchise examiners in light of the proposed NASAA...

by DLA Piper on

Last fall, the North American Securities Administrators Association Inc. (NASAA) issued a notice of request seeking public comment on an updated proposed financial performance representations (or FPR) Commentary. The Federal...more

N.Y.’s New Cybersecurity Regulations: What Financial Services Companies Need to Know

With corporate data security breaches on the rise, the New York State Department of Financial Services (NYDFS) has adopted rules requiring financial institutions to take certain measures to safeguard their data and inform...more

SEC Weighs In on Robo-Advisers: Disclosure, Suitability, and Compliance Obligations

by Morgan Lewis on

The SEC’s Guidance recognizes that robo-advisers are fiduciaries, and provides suggestions on how they can meet the substantive requirements of the Investment Advisers Act of 1940. ...more

FRANCHISOR 101: Simplification of SBA Loan Approvals

by Lewitt Hackman on

As independent small business operators, franchisees may qualify for business loans that are guaranteed by the Small Business Administration ("SBA loans"). However, the SBA considers certain types and levels of control...more

Getting to know British Columbia’s new franchise legislation

by DLA Piper on

After years in development, the British Columbia Franchises Act and its regulations came into force on February 1, 2017. British Columbia is now one of six Canadian provinces to enact franchise legislation, following...more

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