Howard Bundy and Caroline Fichter have been selected as the 2021 Franchise Times Legal Eagles
Franchise Times Names Howard Bundy and Caroline Fichter 2021 Legal Eagles
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Franchise and Business Law Blog
What is an operating agreement? When should you review it?
When you launched your business and set up a limited liability company, you probably signed an operating agreement. Your operating agreement is essentially an agreement among the owners about how the business will be operated. Most importantly, it addresses how to...
What is a personal guarantee-why you should think before you sign
A personal guarantee means that if your franchised business fails, the franchisor can sue you, personally, for money damages.
Pandemic Franchise Opportunities?
In the fraud-filled world of franchise sales, you must take the lead in protecting yourself against promises that the “consultant” has no intention (or ability) to keep. Read the FDD carefully and retain an experienced franchisee lawyer before you sign anything.
Doing business with friends or family
If you agree before you start and get the agreement written down and signed, the chances of your business surviving, along with your friendship, vastly improves.
Will investing in a franchise solve unemployment?
If you are going to buy a franchise with an initial fee of $40,000 and a total initial investment of $500,000 and which would lead to your personal liability for $1,500,000, you should consult an experienced franchise attorney to review the documents and check for problems and defects that you do not have the expertise to identify and understand. It may not cost any more than that house inspector—and far more is at stake.
Beware of “help” with strings attached
The most valuable thing they can demand and that they are willing to “defer” fees for almost any time is a waiver and release of any and all claims. Be sure you understand that trade-off and beware of “help” with strings attached.
When Buying a Franchise–5 Key Things To Look For
In evaluating and buying a franchise, there are many things you should consider. Not every franchise is a good investment. You should analyze any franchise offering carefully and make sure it does not contain one or more bad provisions that are inconsistent with what...
Beware of Boilerplate Disclaimers
If you are considering buying a franchise, you should beware of boilerplate disclaimers. They come in many forms. Some are buried in the fine print near the back of a thirty-page franchise agreement. Many are duplicated in a separate document back near the receipt...
Best Practices-New Accounting Rules Are Delayed (Tentatively)
The Financial Accounting Standards Board (FASB) met on April 8, 2020 and agreed to delay the effective date of the modified Rule 606, which changed the way companies recognized revenues. In effect, the extension would be for one year. However, the extended effective...
