The ideal that every U.S. citizen should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative is the American dream. For many, this includes owning their own business. Many choose to start from scratch and others to invest in a franchise.
If you have ever created something—an invention, a song, or even a business design or symbol—you have what is known as Intellectual Property (IP). In California, there are always new ideas created and shared in the workplace, with friends, and on social media.
The Supreme Court recently issued a decision addressing the enforceability of arbitration clauses in contracts. The Court ruled that binding arbitration clauses must be honored, regardless of whether California’s law says otherwise, because the Federal Arbitration Act requires that arbitration agreements included in company contracts be honored.
California law is known for its protection of franchisee rights; however, new protections are slated to go into effect in January. These amendments to California’s franchise law curb the power that franchisors have over franchisees. The new provisions apply to franchise agreements entered into or renewed on or after January 1, 2016, and to franchises of indefinite duration that can be terminated without cause.
California’s Data Security law requires businesses to safeguard customers’ personal information. On January 1, 2016, a new amendment to the statute will go into effect.
On October 11, 2015, Governor Jerry Brown signed into law Assembly Bill 525 which amends the California Franchise Relations Act. The amendments significantly change what is required for the termination or transfer of a franchise agreement and it creates new remedies for violations of the statute.
Since 2000, the California Family Rights Act (CFRA) has required coveredemployers to approve time off for their employees in the event of a personal illness, the need to attend the illness of a family member, or the birth or adoption of a child. The most recent set of amendments to the CFRA went into effect July 1, 2015.
This year, a series of new employment laws were implemented in California. Among the most significant are new regulations on the proper reporting of safety concerns, guidelines to address arbitration as an alternative form of dispute resolution, and instructions on how data breaches should be handled.
The California legislature recently passed a bill amending the state’s Fair Pay Act and providing greater protections against sex discrimination in wages.
If you own a small business or a share of a business, it may be your most valuable asset. Unfortunately, many small businesses do not survive the retirement or death of their owners. Thus, responsible succession planning, meaning planning for the transfer of ownership and management after an owner leaves, is key to a business’s continued success.
