Lawsuits are, unfortunately, part of the business world today. Whether you’ve been involved in one yourself or someone sued, it’s important to know that you have options and are not alone. As you work to resolve your lawsuit, consider hiring a lawyer to help you understand the situation and assist with negotiations or even court hearings if necessary. Here are few reasons why it’s important to hire a lawyer and how it can help you get through this difficult time and move on with your life afterward. An Attorney Protects You Even if you’re confident that your side of a lawsuit is right, it does ..read more

The purpose of the franchise disclosure document (FDD) is to provide prospective franchisees with basic areas of information which are generally important to making an investment decision. The FTC Franchise Rule requires that the FDD be periodically updated to include any material changes to its disclosures. The franchisor is not required to make any additional disclosures to the prospect after he has been provided the  FDD unless he asks for it. But, what if a material change has taken place after the FDD has been delivered to a pros ..read more

It’s not just the big boys who make tempting targets for cybercriminals. News reports show a rising trend of cybertheft which is not confined to large corporations. Rather, it appears, smaller businesses are attractive targets of business identity theft because they tend to not devote the resources to protect themselves against identity and information technology theft as do larger companies. It has been reported that more than half of those companies who have had their identity stolen will be out of business within one year of the theft. One scheme which has been reported upon is the use of f ..read more

You should consider the following issues before committing to any purchase: Are you willing to work within the limits and operating structure of the franchise system? Is the product or service to be offered something which you enjoy dealing with? Have you evaluated the market for that product or service? Have you read the franchise disclosure document and resolved any questions which have been raised? Can you arrange for sufficient working capital to offset periods of negative cash flow while the business becomes established? Do you have a business exit strategy and do the franchise agreement ..read more

Business transactions are best documented through the use of written agreements. However, the impression is often given that the offered agreement is a standard document, and no variations can occur. Many times this is the case. However, one cannot know if that is the case in your particular instance until attempts are made to negotiate those portions of the agreement which are most objectionable or have the greatest impact upon your ability to go forward with the transaction. A party’s willingness to negotiate is generally directly related to its perceived need to enter a particular marketpla ..read more

Business data used to be recorded upon paper and filed in manila folders within a cabinet. Not anymore! Most businesses have taken advantage of the computer age to go “paperless”. Without realizing it, many businesses have electronic data stored throughout their offices. The obvious places, desktop and notebook computers, aren’t the only places data is electronically stored. In addition, data is also commonly stored on hand held PDAs and Blackberry® mobile units – even iPods®. Often, electronic messages (data) have been uploaded to a central server. Of course, they also came from someone else ..read more

Prospective franchisees have often been incorrectly told that federal law prohibits a franchisor from disclosing financial performance information to the prospect prior to his or her becoming a member of the franchise system. The revised Federal Trade Commission Franchise Rule now requires that franchisors clearly disclose they are legally permitted to provide financial performance information if they chose to do so. Only about 20% of franchisors made financial performance claims in 2006. Virtually all current disclosure documents and franchise agreements contain warnings that no one is author ..read more

One should fully read the franchise disclosure document to identify relative risks in the total transaction. Put in other words, what are the promises which are being made in return for your agreement to pay the initial and ongoing franchise fees, and what are the risks of those promises falling short of your expectations or their being broken? What obligations are you being asked to undertake, and how dependent are you upon achieving a perceived business goal in order to meet those obligations? To be sure, no business is risk-free. However, the franchise purchaser should remember that he or s ..read more

Franchised businesses and other business opportunities have become a major portion of the retail business environment in America. Contact us to ask for one of our free checklists of things to consider before purchasing a franchise or business opportunity, and things to do before offering a franchise or business opportunity for sale. Franchising offers the seller a method of rapidly expanding its distribution network with reduced capital outlay, while offering the buyer a “big brother” with the expertise to train the buyer to setup and operate a particular business without having prior experien ..read more

Businesses, such as retailers or service providers, often wish to use another company’s protected name, trade dress or logo in association with the marketing of their own business. The marketer believes this is proper since it sells, repairs or offers services specific to the other company=s goods or services. However, when done without first having obtained the other company=s permission, marketing in this manner can bring about significant legal problems under both state and federal law. Merely including a J, 7 or K along with the other company’s name or mark is generally not enough to prote ..read more