Worcester Franchise Lawyers
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Legal Services Offered by Our On-Demand Worcester Franchise Attorneys
The Worcester franchise attorneys & lawyers on UpCounsel are dedicated to helping franchise businesses find and connect with vetted and top-rated Worcester franchise attorneys & lawyers that provide a range of franchise law services for startups to larger franchises in the city of Worcester, MA. Any of the Worcester franchise lawyers you connect with will be available to help with a variety of your franchise legal needs on-demand or on an ongoing basis.
From primarily dealing with things like developing franchise business programs, structuring distribution agreements, and negotiating franchise agreements, the Worcester franchise lawyers on UpCounsel can help you with a variety of specialized and general franchise law related legal matters, such as franchise-related lawsuits involving enforcement, compliance, and non-renewal. No matter what type of franchise law needs you have, you can easily hire an experienced Worcester franchise attorney on UpCounsel to help you today.
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- 5 min read
What Is a Condition Subsequent?
A condition subsequent (CS) is an exit clause from an existing contract. The agreement between parties includes language that frees one of them from the deal. This happens when a conditional outcome occurs. A CS relieves a party of all obligations.
What's the Purpose of a Condition Subsequent?
Think of a condition subsequent as an escape clause. It ends a party's contractual obligation. In contracts, all involved parties have certain responsibilities. The CS gives one party the ability to walk away from the promise to perform a duty.
A CS is a kind of insurance for one or more parties. It makes sure that one of the groups in the contract can leave when certain conditions are met.
Think of a contract as a series of promises. Everyone who signs the agreement must keep their promises. Sometimes, a
- 10 min read
What are Class B Shares?
Class B shares are:
- Common stocks
- Preferred stocks offering fewer advantages than Class A
Mutual funds can be divided into more than one type, and each type reveals the interest, portfolio, fees, and costs, in addition to the commission the sales representative of those stocks will receive in turn. Generally, class B shares are a kind of stock that offers a variable amount of voting shares when compared to class A.
What is the Difference Between Common and Preferred Stock?
Preferred stock is a type of security that gives people priority dividend amounts. This helps the owner's priority dividend payments and boosts the company in cases of liquidation or bankruptcy.
On the other hand, common stock is mostly lower-priority but found much more often in equity transfers. Companies sometimes create various classes of common stocks for investors, members of
- 7 min read
Debt Financing: What Is it?
Debt financing is when a company raises money by taking out a loan and then repays that loan over time with interest. This is also known as borrowing on credit. It can come from selling bonds, bills, or notes to lending institutions, or from private investors who are not looking to receive equity in your business.
It's good to be aware of the fact that banks often shy away from small businesses that are experiencing rapid sales growth, a temporary decline or a seasonal slump. They are not completely stable.
Debt Financing Versus Equity Financing
Debt financing is a loan that must be repaid, while equity financing is an investment of money in exchange for a stake in the company. The stake in the company is given through common shares.
When you receive money through equity financing, you are giving up a small pi
- 5 min read
Bylaws are the internal legal rules applicable to a corporation and must be followed by the company, its directors, shareholders, and officers when conducting business. They are applicable to both for-profit and nonprofit corporations.
State statutes govern what bylaws can and cannot say and do, and while there are similar considerations throughout the country, every state is different. So, it’s important to consider state-specific laws when drafting bylaws.
Generally, bylaws are legal documents that formally set out the rules of a company. While they may seem like a burden at times, once the company and its personnel are familiar with them and what they require, they can help the company work more efficiently by providing rules for determining how business must be conducted, how to solve pr
- 5 min read
Senior Debt: What Is It?
Senior debt is the debt that is paid back first if the borrower runs into trouble paying back debt. It's the lowest cost and most common funding available, often from a bank. Banks can lend money for a small percent, such as 2 to 5 percent, and in return, they get prioritized as senior debt.
Senior gets first priority and must be repaid first before any other creditors receive payments. These less important debts are called junior debts. Senior debt is typically from a bank and banks can provide you with lower interest rates (after all, they have all that "free" money that people put into their savings account that they can lend out).
This saves you big time when it comes to how much you'll pay in interest. Bank loans typically come with 2 to 5 percent in interest, whereas junior debt lenders come in at about 5 to 12 percent. As long as you make the required payments to banks on top