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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.

Over the last few weeks, franchisees across the country have been faced with challenges no one ever imagined. Franchisees operate in some of the hardest hit businesses including fitness, food service, and health and beauty. Whether your business has suffered from a sudden drop in sales, shifted to take out only, or been forced to close, Coronavirus is likely forcing ...

Following best practices, franchisors must adjust to new accounting rules, which take effect for reporting years beginning January 1, 2019 for most franchisors. Publicly traded franchisors were required to comply for reporting years beginning January 1, 2018.

Do you wonder whether there is value in hiring a franchisee attorney to review your Franchise Disclosure Document (FDD) before you commit to buying a franchise? Every prospective franchise asks that question. The question is legitimate. The answer is a resounding “yes”. A few hundred dollars invested today can literally save you and your family from personal bankruptcy.

When buying a franchise, you should beware of “freedom of contract”. Freedom of contract is a bedrock concept of the legal system. It presumes that every person understands every word of every contract and that their “self-interest” will cause them to not sign unfair or ill-advised contracts.

If you follow best practices as a franchisee, you will never use the computer for personal matters. It is tempting and far more convenient, but extremely dangerous. Most franchise agreements give the franchisor “unfettered” access to your computer and all information on it. If you email your sister complaining about how the franchisor treated you, the franchisor has the right ...

If you follow best practices as a franchisee, you will never use the computer for personal matters. It is tempting and far more convenient, but extremely dangerous. Most franchise agreements give the franchisor “unfettered” access to your computer and all information on it. If you email your sister complaining about how the franchisor treated you, the franchisor has the right ...

The Bundy Law Firm is proud to that its associate, Caroline Fichter is the 2016 recipient of the American Bar Association Forum on Franchising Chair’s Award for Substantial Writing Work or Presentation for her law journal article “Surviving the Tempest: Franchisees in the Brave New World of Joint Employers and $15 Now.” In the article, Caroline and her co-author, Erin ...

Another day and two more prospective clients calling for help because they bought franchises. One in the senior health care industry; one in the men’s hair care industry. Both suffered devastating losses. In under two years, one lost $600,000; the other “only” $100,000. In both cases, they have nothing left and I had to talk to them about consulting a ...

Everyone planning to set up a new corporation or LLC faces the question of what state should they form the entity in. You read on the Internet or see ads on television about the “wonders” of incorporating in some particular state. The half of the truth that the proponents generally don’t tell you is what can later bite you.