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The Alvord Decision: Why Periodic Review of Insurance Policies Is a Must for Franchisors
Franchisors, like other businesses, should periodically review their insurance policies to make certain that they understand the scope of their existing coverage and to identify (and remedy) any significant gaps in that coverage. Given that franchisors are more frequently finding themselves in the cross-hairs of their franchisees, franchisors should pay particular attention to whether they have coverage for franchisee claims and, if so, the extent of that coverage. Franchisors should not wait until they have become a target to determine whether they have insurance protection.
A federal judge recently held that a franchisor did not have coverage for claims by a former franchisee under a Directors and Officers policy that excluded claims “based upon, arising from, or in any way related to any Claim made by or on behalf of any franchisee of the Company in any capacity.” (Emphasis added.) The court determined that an endorsement to the D&O policy excluded coverage regardless of whether the claim was made by a current or former franchisee. Alvord Investments, LLC v. The Hartford Financial Services Group, Inc. et al., 660 F. Supp. 2d 850 (W.D. Tenn. 2009).
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.