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Before any franchisor can legally sell a franchise in the United States, federal law requires them to provide prospective franchisees with a Franchise Disclosure Document — commonly called an FDD. It's often hundreds of pages long, and most prospective franchisees...

At some point during a commercial tenancy, most tenants will be asked to sign an estoppel certificate — often with a short deadline and little explanation of why it matters. Understanding what an estoppel certificate actually does, and reviewing it carefully before...

Before a formal commercial lease is drafted, landlords and tenants often exchange a Letter of Intent (LOI) outlining the deal's key terms. Many businesspeople treat an LOI as a casual, non-binding formality — but depending on how it's drafted, an LOI can create real...

Every commercial lease defines what constitutes a default and what remedies the landlord has when one occurs. These provisions are easy to overlook during negotiation — most tenants don't plan to default — but they define exactly how much room for error a tenant has...

A commercial lease renewal option is one of the more overlooked provisions during initial lease negotiation — tenants focused on the current term's rent and buildout often leave renewal terms vague or entirely absent, only to face unfavorable terms (or no guaranteed...

Most commercial tenants never think about their landlord's mortgage — until the landlord defaults on it. An SNDA agreement is the document that determines what happens to a tenant's lease if that happens, and without one, a tenant can find their lease terminated...