The current COVID-19 pandemic has disrupted businesses across the globe, and franchises are no exception. We have some suggestions for franchisors to consider.
Oregon considers new franchise relationship law
Last week, a bill was introduced to amend Oregon law by adding new rules for franchisors doing business in the state. If passed, the bill would impose several new requirements on franchisors.
Nevada passes covid-19 business liability protection act
On August 11, 2020, Nevada Governor Steve Sisolak signed into law a bill that gives most businesses liability protection from COVID-19 lawsuits.
FTC REVISES MONETARY EXEMPTIONS UNDER THE FRANCHISE RULE
Today, the Federal Trade Commission (the “Commission”) announced an amendment to its “Disclosure Requirements and Prohibitions Concerning Franchising” (16 C.F.R. Part 436) (the “Franchise Rule”) revising the monetary limits for three of the listed exemptions.
California Department of Business Oversight Discontinuing Online Franchise Document Access
The California Department of Business Oversight announced that it is discontinuing online franchise document access
Indiana Extends Registration Periods For Some Franchisors
Indiana announced that it would extend the registration periods for franchisors that are currently set to expire between March 16, 2020 and May 31, 2020.
FASB Extends Implementation of ASC 606 for Franchisors
The Financial Accounting Standards Board (“FASB”) unanimously voted today to propose delaying the effective date for its Accounting Standards Codification® Topic 606 (“ASC 606”), Revenue From Contracts With Customers, for franchisors that are not public business entities.