On April 27, 2016, the U.S. House of Representatives passed The Defend Trade Secrets Act of 2016 (DTSA or Act) 1 which will create a federal civil remedy for stealing trade secrets, such as manufacturing processes and computer software. The Senate previously approved the measure which will now go to President Obama for signing into… Read more »
Buyers want to minimize purchase price and risks. Sellers want to maximize sales price and shift risks to Buyers.
Small businesses seeking to raise capital in private offerings using “finders”, and firms brokering M&A deals involving private companies have faced the risk that transactions could be unwound (“rescinded”1), sometimes years later, because of the involvement of “unregistered brokers” in the transactions. Finders In a September 23, 2015 letter2 to the SEC, its Advisory Committee… Read more »
New legislation, the “FAST Act”1, signed into law by President Obama on December 4, 2015 takes several steps in the right direction toward simplifying capital raising by small companies, easing the transfer of restricted securities among investors and increasing the liquidity of private companies’ securities. The SEC adopted rules implementing FAST Act Provisions on January… Read more »
When a person accused of infringing a software copyright raises a “first sale defense” (which allows the lawful owner of copies of copyrighted material to sell the copies without the copyright owner’s permission (17 U.S.C. § 109(a)) and produces sales invoices, then to defeat the defense the copyright owner must produce the specific license agreement under… Read more »
In response to perceived overreaching and abuse by franchisors, the California legislature amended the Franchise Relations Act (CFRA) strengthen franchisees’ rights regarding terminations, non-renewals, and franchise transfers. The changes are effective January 1, 2016. Termination Rights Franchisors retain the right to terminate franchisees without providing a right to “cure”, for reasons such as the abandonment… Read more »
Browning-Ferris Industries of California, Inc. 362 NLRB No. 186 (Aug. 27, 2015) As one commentator noted, the most important franchise case of 2015, Browning Ferris,” isn’t a franchise case”. By a 3-2 vote, the U.S. National Labor Relations Board (NLRB) overturned 30 years’ of precedent in adopting a new, broader, more lax definition of “joint employer”. According to… Read more »
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