In recent years, high interest rates, inflation, and changing consumer trends have resulted in a tightening of financing options available for restaurants. Lenders often require various forms of collateral for restaurant financing, particularly in assets that hold strong market value and can be resold in case of a borrower default. One increasingly popular solution for restaurateurs…
POSTED IN: Articles & Quotes, Hospitality Practice Group
For a franchisee, entering into a franchise agreement with a franchisor is just the first step in their new journey to entrepreneurship. Following the execution of the franchise agreement, the franchisee will simultaneously go through the franchisor-required training while also making one of the most important decisions in the process—selecting the location of their business. This location…
POSTED IN: Articles & Quotes, Franchise Law
RIW President Bradley Croft was recently quoted in a Massachusetts Lawyers Weekly article regarding the Prompt Payment Act. In J.C. Cannistraro, LLC v. Columbia Construction Co., the Superior Court recently reversed an arbitration decision that allowed a party to seek recoupment of payments made under the Prompt Payment Act after failing to comply with the law….
POSTED IN: Articles & Quotes, News
Late last year, President Biden issued a sweeping Executive Order concerning Artificial Intelligence (“AI”). Last month, the U.S. Office of Management Budget released a Memorandum providing “requirements and guidance for AI governance, innovation, and risk management” in the federal public sector. (I previously wrote about the Executive Order and Memorandum). On April 29, 2024, the…
POSTED IN: Articles & Quotes, Employment Law
Hard to believe, but we are fast approaching the general election campaign and election in November 2024. Welcome to the silly season, folks! Our televisions, web browsers, and social media feeds are all about to be inundated with political advertisements. Since this topic will quickly take over our lives (whether we want it to or…
POSTED IN: Articles & Quotes, Employment Law
The Corporate Transparency Act (CTA) has been a hot topic since its introduction, requiring businesses to adapt to new reporting obligations. We explored the Corporate Transparency Act in depth in an alert last week. Now that the CTA is effective and companies begin to report to FinCEN here are some answers to commonly asked questions…
The Corporate Transparency Act (CTA) generated substantial commentary throughout 2023 as businesses and advisors worked to determine compliance and reporting burdens imposed by the Act in advance of its January 1, 2024 effective date. Originally passed in 2021, the CTA is the first federal law that requires non-exempt business entities to disclose the identity of…
POSTED IN: Articles & Quotes, Commercial Real Estate, Corporate & Business
In commercial real estate, the legal instruments that govern leasing and financing relationships are more than just contractual formalities—they are the bedrock of security for all parties involved. For tenants and landlords alike, Subordination, Non-Disturbance and Attornment (SNDA) agreements, alongside Estoppel Certificates, stand as critical defenses against the unpredictability of property markets and financial upheavals….
POSTED IN: Articles & Quotes, Commercial Real Estate
In November 2022, the world was introduced to ChatGPT – a large language model form of generative artificial intelligence (“AI”) designed to simulate conversation and provide users with instant access to a wealth of information. In the just one year that ChatGPT has become part of our lives, businesses and individuals alike have scrambled to…
POSTED IN: Articles & Quotes
Michael Coleman from Boston University School of Law and McKenna McLean from Suffolk Law School were summer interns at RIW in 2023. Learn more about their time at the firm and their key experiences and learnings. Michael Coleman Why did you choose RIW for your summer? I was initially drawn to RIW for its extensive…
POSTED IN: Articles & Quotes
