In this ongoing Legal Insight series, we will discuss some of the regulatory requirements and legal issues concerning financial performance representations, or “FPRs” as they are sometimes referred to in the United States.
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The Use of Financial Performance Representations by Canadian Franchisors – Part II: Earnings Projections
Idan Erez | May 13, 2021
The Use of Financial Performance Representations by Canadian Franchisors – Part I: Past Historical Data
Idan Erez | May 6, 2021
In this ongoing Legal Insight series, we will discuss some of the regulatory requirements and legal issues concerning the making by Canadian franchisors of financial performance representations, or “FPRs” as they are sometimes referred to in the United States. This installment in the series will focus on the disclosure of past historical data.
What Are Financial Performance Representations?
Stephanie Chong | May 5, 2021
“Faster, Mommy! Faster, faster!” Those words were regularly uttered by my son when he was younger whenever we spent time on a ski hill, at an ice rink, or even just running around the neighbourhood.
Speed demon that he was (and still is), he would no doubt be encouraged by recent measures taken by the Canadian Intellectual Property Office (CIPO) to accelerate the processing of trademark applications.
Maryam Shahidi | October 26, 2020
We previously reported on Bill 154, the Cutting Unnecessary Red Tape Act, 2017, which introduced new proposed amendments to the Ontario’s franchise legislation, the Arthur Wishart Act (Franchise Disclosure) (the “Wishart Act”), in our blog post here. On September 1, 2020 those amendments to the Wishart Act came into force.
The amendments have added clarity to certain provisions of the Wishart Act. Below is a summary of those recent amendments. The more significant amendments to the Wishart Act are as follows.
Confidentiality Agreements and Location Reservation Agreements
Lauren Parker | August 18, 2020
The effects of the COVID-19 pandemic have been felt across many industries and in businesses both large and small, including those within franchise systems. As the pandemic continues, and as governments across Canada enact legislation to combat its effects, franchisors will need to ensure that their disclosure reflects the impact of COVID-19 on their franchise system.
The Importance of Disclosure during a Pandemic
Stephanie Chong | August 4, 2020
Our home and native land!
True patriot love in all of us command.
Car ton bras sait porter l’épée,
Il sait porter la croix!
Ton histoire est une épopée
Des plus brilliants exploits.
God keep our land glorious and free!
O Canada, we stand on guard for thee.
O Canada, we stand on guard for thee.
Idan Erez | July 20, 2020
Typically, franchise agreements are written documents that include detailed terms describing the legal rights and obligations of the franchisee and franchisor.
Idan Erez | June 26, 2020
In response to the emergence of the COVID-19 pandemic, the Ontario Superior Court of Justice (the “Court”) suspended all regular operations on March 15, 2020. The suspension included the adjournment of hearings that were already scheduled and a moratorium on requests for new hearings, except for urgent ones.
Urgent hearings were permitted to continue out of recognition that access to justice must always remain available in order to permit the Court to continue to play its fundamental role in our constitutional democracy.
Stephanie Chong | June 19, 2020
The tragic death of George Floyd in Minneapolis on May 25, 2020 led to a resurgence of the Black Lives Matter movement, as evidenced by a groundswell of protests around the world.
Less than one month later, Quaker Oats’ parent company PepsiCo announced that its “Aunt Jemima” brand of over 130 years would be retired, recognizing that the brand’s origins are based on racial stereotypes. Aunt Jemima pancake mixes and syrups have long been breakfast staples around North American kitchen tables. The brand was based on a song, “Old Aunt Jemima”, which was apparently popular in minstrel shows. These shows were a form of American theatre based on purportedly comic racial stereotypes, featuring white performers in blackface portraying Black people in an often derogatory manner.