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New FTC Rule Revises Disclosure Procedures
The recently released final FTC Rule ('New Rule') on franchising is notable not only for the revised disclosure requirements in Items 1 through 23, but also for the changes it makes to the franchise disclosure process.
Under the existing FTC Rule, the disclosure process is triggered by the first personal meeting between a franchisor and a prospective franchisee, but, if there has been no such meeting by them, at least 10 business days before the execution of any binding agreement or a payment to the franchisor or an affiliate in connection with the franchise sale. The New Rule does away with the first personal meeting criterion and replaces with 14 calendar days the 10-business-day advance disclosure period. A disclosure document also must be provided if requested by a prospective franchisee, even if that request is before the 14-calendar-day period.
Franchisors need not honor requests from persons who are not bona fide franchisee prospects. The signing of a confidentiality agreement, often used by franchisors prior to disclosing proprietary information to prospects, need not be preceded by a disclosure document unless that document is requested by the prospective franchisee.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?