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CALIFORNIA CORPORATE & SECURITIES LAW

Must A False Statement To A Franchisee Be Made “In this state”?

The list of instruments and interests included within the definition of a “security” in California Corporations Code Section 25019 is long.  A franchise, however, is not to be found amongst the named.  In fact, the statute specifically excludes a franchise subject to registration under the California Franchise Investment Law (Corporations Code Section 31000 et seq.) or exempt…

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Legislator Fires Broadside At Franchisors

California has not one, but two franchise laws.  The Franchise Investment Law (“FIL”), Corporations Code Section 31000 et seq., is administered and enforced by the the Commissioner of Corporations.  The Franchise Relations Act (“FRA”) is located in the Business & Professions Code (Section 20000 et seq.) and is not administered or enforced by the Commissioner.…

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