On May 19, 2019, the North American Securities Administrators Association (NASAA) adopted new state cover sheets and state effective dates page for franchise disclosure documents. Beginning on January 1, 2020, the FDD must now include three specific cover sheets prepared in accordance with the instructions and samples promulgated by NASAA.
All of these new pages
The North American Securities Administrators Association, Inc. (“NASAA”) is proposing to revise the instructions in the NASAA Franchise Registration and Disclosure Guidelines (the “Guidelines”) that outline policies and procedures regarding the preparation of a franchise disclosure document (“FDD”). Specifically, NASAA has set forth a proposal for public comment that replaces the “State Cover Page” to
Almost every year at the IFA Annual Legal Symposium in Washington D.C., a panel of distinguished franchise attorneys and state regulators will discuss best practices in drafting a franchise disclosure document in compliance with the FTC Franchise Rule. This year was no different and the workshop “Thorny FDD Disclosure Issues” offered
Each year the ABA Forum on Franchising Annual Meeting offers a regulatory roundup on state disclosure and registration issues consisting of a panel of franchise examiners from some of the most difficult registration states. This past year in Palm Desert regulators
International franchisors inbound into the U.S. face a complex set of business decisions and legal regulations. Even seemingly simple tasks–like properly executing a franchise registration application–can become a time-consuming and expensive endeavor (especially where the franchisor does not have an authorized signatory in the U.S.). Knowing how and when to request waivers can save time
If your brand standards require franchisees to upgrade and improve their locations, a recent federal case demonstrates how thoughtful disclaimers and disclosures can shut down a franchisee lawsuit in its early stages. 
In Devayatan, LLC v. Travelodge Hotels, Inc., a franchisor terminated a franchise agreement due to the franchisee’s alleged failure to improve and
Franchisors offering and selling franchises in Rhode Island should take note of recent amendments to Rhode Island’s Franchise Investment Act:
Disclosure Requirements
Franchisors must now provide prospects with an FDD at least 14 calendar days before the execution of an agreement or the payment of any consideration related to the franchise. “Calendar days” include all
Last June we blogged about a lawsuit that ended favorably for a franchisor. In Braatz, LLC v. Red Mango FC, LLC, the trial court determined that a franchisor did not violate Wisconsin’s “14-day Rule”, which requires franchisors to provide an “offering circular” (aka FDD) to prospects 14 days before selling a franchise. 3:14-CV-4516-G (N.D.
Many franchisors’ fiscal year ended on December 31st. The FTC gives a franchisor 120 days to update its franchise disclosure document (FDD) but some state deadlines many come much sooner. Franchisors should already be gathering the information needed to update their FDD and file state renewal applications (if applicable). Below are some quick tips franchisors
I continue with my seventh and final installment on Observations from the IFA Convention on the Ins and Outs of Financial Performance Representations (“FPRs”). Again, my thanks to Max Schott of Gray Plant Mooty for co-authoring this summary with me. This concerns some advice on advertisements and FPRs and Max and my last and final