A common predicament faced by businessmen is violating the Batas Pambansa Blg. 22 also known as the Bouncing Checks Law. Evidently, businessmen issue checks as a matter of practice, and sometimes when the due dates of these checks fall, either by inadvertence or unavailable finances, the check bounces. BP 22 punishes a person for issuing […]
De-Mystifying the Bouncing Checks Law (B.P. 22) Read More »
The protection of intellectual property rights is a primordial concern, especially in the field of business format franchising. Business format franchising, to a large extent, involves the use by a person called a franchisee of the intellectual property another called the franchisor, of course, with the consent of the latter. The intellectual property involved in
Protecting your Intellectual Property Rights Read More »
In “shopping” for a lawyer, the first thing the usually comes to mind is how much a lawyer charges. Generally, the professional fees of a lawyer depend on the nature and complexity of the case, the financial capacity of the client, the extent of work required, among other factors. The usual legal fee arrangements are:
Lawyers’ Fees: Types of Legal Fee Arrangements Read More »
You have a business idea in mind; a great concept which you think will be very profitable. You have the over-all know-how to accomplish the business, and the will to succeed. You need capital and have been thinking of bringing in foreign investors to the scene. This is a common-place scenario in business nowadays. The
Bringing in Foreign Investors in Retail Trade Read More »
An employment contract is an essential part of every business. An incomplete or badly drafted employment contract could spell trouble to an employer from both a legal and business perspective. For instance, if an employee learns of certain trade or business secrets of an employer during employment, an unguarded employment contract may mean that when
An Entrepreneur’s Guide to Employment Contracts Read More »
A corporation is defined by the Corporation Code as an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence. Consequently, as an artificial being, a corporation has a personality separate and distinct from its stockholders. Hence, the
The Separate Personality of a Corporation Read More »
If you are interested in franchising, whether as a franchisor or a franchisee, an important document to consider is the franchise agreement. A franchise agreement is usually a voluminous document. Of course, it is not the intention of the franchisor to confuse the franchisee. It is lengthy because it specifies in detail what the respective
Dissecting a Franchise Agreement: Part One Read More »
The first part of “Dissecting a Franchise Agreement” dwelled on the subject matter of the franchise agreement, namely, the business format being franchised. Since a franchise agreement is usually a lengthy document, it is best that the agreement be broken down into its basic elements, to allow prospective franchisors and franchisees to understand its bare
Dissecting a Franchise Agreement: Part Two Read More »
The last element of any contract, which is necessarily present in a Franchise Agreement, is the element of cause or consideration. Our law defines cause or consideration as the prestation or promise of a thing or service by the other. In a Franchise Agreement, the cause or consideration involves the “why?” in the agreement. Why
Dissecting a Franchise Agreement: Part Three Read More »
We have dissected the Franchise Agreement down to its most basic elements, namely: consent, subject matter, and cause or consideration. The first two parts of ‘Dissecting a Franchise Agreement’ discussed the two essential elements of a valid Franchise Agreement, namely, consent and subject matter. Part three focused on the cause or consideration which impels a
Dissecting a Franchise Agreement: Part Four Read More »
