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Managing a Franchise System When 'Game-Changers' Arise
One of the difficult balancing acts encountered by all franchise systems is between the relatively static nature of the franchise agreement and the dynamic, impossible-to-predict changes that occur in the real world. At the 34th Annual ABA Forum on Franchising, held in Baltimore on Oct. 19-21, two industry veterans with perspective as senior in-house counsel spoke about how in-house counsel can identify potentially “game-changing” developments and lead their organizations' response.
There are good reasons why franchise contracts have fairly long terms, said Joel Buckberg, formerly executive vice president and deputy general counsel for Cendant Corporation, and currently of counsel to Baker Donelson Bearman Caldwell & Berkowitz, P.C., in Nashville. Franchisees need to amortize the cost of purchasing a franchise and making bricks-and-mortar investments without undermining the short-term cash flow needed to grow the business. Also, franchisees find it easier to obtain necessary loans if they have a long-term contract in place. “But at the same time, markets are dynamic,” Buckberg said. “[Court] decisions change the landscape. Technology is constantly evolving. Consumer preferences change. Who would have thought five years ago that social media would be a major form of marketing for franchises?”
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.