Yesterday the IFA sent a letter to its members alerting them to the pending doom, and that the sky will fall in Maine if the Labor Commerce and Economic Development Committee votes “ought to pass” on the “5 Principles” of the Maine Small Business Investment Act. They have organized a Town Hall Telephone Call for Monday. It sounds like a “Sky Will Fall Pep Rally”.
I can assure that the sky is very big in Maine, but it will not fall, if LD 1458 in its current state passes. The amended version edits the bill to “5 Principals” of equity protection. The principals are Freedom Of Association, Transfer Protection, Renewal Protection including Succession, Termination Protections including notice to cure, Good Faith & Reasonable Care.
Here is the email that was sent by Steve Caledeira, IFA CEO, and Former Spokesman for Dunkin’ Brands, during the dark days of intense litigation and equity extraction.
Dear Colleagues:
As you may know, the franchise business model continues to be under attack in an increasing number of states with the introduction of harmful franchise relationship legislation. In order to help defeat these harmful bills we need YOUR help. These bills will intrude directly into your franchise agreements, essentially bringing franchise development to a screeching halt and destroy the model in states they are introduced. Further, this legislation will provide fewer opportunities for your brands to expand, as there is no guarantee that your best practices and quality standards will be adhered to if these bills are passed.
As such, IFA is hosting an urgent tele-town hall call for members on Monday, January 27th at 1:30pm Eastern to learn more about these issues and how you can get engaged to protect YOUR business. We will call you directly at 1:30pm Eastern – it’s that simple to participate, listen and learn how you can get involved. The call should last no more than 30 minutes and I hope you will join us to learn how you can – and need – to protect your business against these threats.
Best,
Steve Caldeira, CFE, President & Chief Executive Officer, International Franchise Association
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Comments by Jim Coen, Executive Director, Maine Franchise Owners Association.
Franchisees have been under attack for decades! It’s Pay Back Time!
Together we can turn the tide against the IFA and let get to know how it feels!
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