FRANCHISE SALES AND DISCLOSURE LAW COMPLIANCE ISSUES DAVID J. KAUFMANN Kaufmann, Feiner, Yamin, Gildin & Robbins LLP New York, New York JOEL R. BUCKBERG Baker Donelson Bearman, Caldwell & Berkowitz, P.C. Nashville, Tennessee Administrator, IFA Compliance Training
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FRANCHISE SALES AND DISCLOSURE LAW
COMPLIANCE ISSUESDAVID J. KAUFMANN
Kaufmann, Feiner, Yamin, Gildin & Robbins LLPNew York, New York
JOEL R. BUCKBERGBaker Donelson Bearman, Caldwell & Berkowitz, P.C.
Nashville, TennesseeAdministrator, IFA Compliance Training
AN OVERVIEW OF THE LAW OF FRANCHISINGTHEY DIDN’T SEE IT COMING: THE GENESIS OF FRANCHISE
REGULATION
AN OVERVIEW OF THE LAW OF FRANCHISING
INTRODUCING THE THREE BODIES OF FRANCHISE LAW:
• FEDERAL AND STATE REGISTRATION / DISCLOSURE STATUTES
• STATE ‘RELATIONSHIP’ LAWS• FEDERAL AND STATE BUSINESS
OPPORTUNITY LAWS
FEDERAL AND STATE FRANCHISE REGISTRATION/DISCLOSURE LAWS
• FTC FRANCHISE RULE (NO REGISTRATION REQUIRED – DISCLOSURE ONLY)
• 3 State Approaches:– Merit Review– Annual Notice Filing– Single Notice Filing
FEDERAL AND STATE FRANCHISE REGISTRATION/DISCLOSURE LAWS
• CALIFORNIA• HAWAII• ILLINOIS• INDIANA• MARYLAND• MICHIGAN• MINNESOTA• NEW YORK
• NORTH DAKOTA• OREGON• RHODE ISLAND• SOUTH DAKOTA• VIRGINIA• WASHINGTON• WISCONSIN
FEDERAL AND STATE FRANCHISE REGISTRATION/DISCLOSURE LAWS
Annual Notice Filings:
• Florida• Indiana• Michigan• Utah• Wisconsin
Single Notice Filing:
• Connecticut• Kentucky• Nebraska• Texas
STATE FRANCHISE RELATIONSHIP LAWS
• ARKANSAS • MINNESOTA• CALIFORNIA • MISSISSIPPI• CONNECTICUT • MISSOURI• DELAWARE • NEBRASKA• HAWAII • NEW JERSEY• ILLINOIS • SOUTH DAKOTA• INDIANA • VIRGINIA• IOWA • WASHINGTON• MICHIGAN • WISCONSIN