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.
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...
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...
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...
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.The...
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...
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...
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...
It is best if the franchisor, your employees and vendors do not even have your personal email address. In most cases, using a personal address for business purposes is a breach of your agreement. In all cases, co-mingling the accounts could result in the franchisor demanding access to your personal account, especially if there is ever a disagreement.
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...
