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7/29/16 9:55 AM CT | Author: Introduction by Michael Vargas
Benefit corporations, a corporate form that aligns the business with a social mission, are the new kid on the corporate scene. Some lawyers and scholars think it is a fad that will eventually die out, but the trend lines tell a different story. Thirty-one states have passed benefit corporation statutes in just the past five years, including in Delaware. Consumers are choosing socially responsible alternatives to everything from the products they consume to the services they procure. Established mega-businesses like Clorox and Amazon are being forced to compete with socially responsible startups. Young entrepreneurs and MBA grads are looking for a businesses and work environments that offer value beyond just a paycheck. More of our clients are asking about it, and more are electing to found their companies using this corporate form. And the trends suggest that this is only the beginning.
7/18/16 8:05 AM CT | Introduction by Steve Middlebrook
The Department of Homeland Security is proposing to collect social media account information from people crossing the border. In a very short, very cryptic, Federal Register announcement, U.S. Customs and Border Protection (CBP) has given notice that it intends to modify several forms which foreigners are required to fill out before entering the country to collect information on travelers' social media presence. 81 Fed. Reg. 40892 (June 23, 2016). The proposal is disturbing because while it significantly impacts expressive activity, the agency's proposal, barely a page and half long, fails to address a number of legal issues, including implications for the First Amendment.
7/14/16 9:05 AM CT | Author: Rick Paszkiet, Content Development Manager
Welcome to Content Corner! Below is a list of the exciting content that the Section has produced in June.
7/13/16 10:28 AM CT | Author: Introduction by Michael Reed
“It’s pretty silly. Congratulations Bethesda. You won. You beat us. You showed us who’s boss,” remarked Jordon Maron, founder of the indie video game developer Xreal, in a video response to a cease and desist letter issued to him demanding he change the name of his latest project. “We’ll make sure that people do not think that our game is part of the Fallout franchise. This wasn’t the goal from the start. And, whelp, we’ll change it…”
7/11/2016 11:40 AM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
This webinar will focus on Financial Technology (“FinTech”) companies, including marketplace lenders, and the legal issues facing those companies. The FinTech industry has grown dramatically over the last few years. This success has brought about an increased regulatory focus at both the state and federal level. This webinar will include an overview of the FinTech industry, an explanation of the typical FinTech business model, and a high level walkthrough of the major regulatory issues facing this industry.
7/7/16 9:33 AM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
Several of our 50 substantive Committees produce newsletters featuring relevant news, articles, and important updates that are emailed periodically to their respective Committee members.
7/6/16 9:05 AM CT | Author: Introduction by A.J. Bosco
The White-Collar Crime Committee is proud to present the mini-theme for this issue of “Business Law Today.” We are one of the newer Business Law Section committees but also one of the faster growing ones. Since the beginning of 2015 our membership has increased by more than 30 percent. Targeted outreach, better opportunities for committee participation, new subcommittees, our committee newsletter and great meetings have help propel that growth.
6/30/16 9:05 AM CT | Author: Introduction by Brian T. Sumner
At its origins, “compliance” is about the rules that govern behavior and expectations – from governments, employers, industry regulators, and others. Compliance focuses on how we communicate such rules, how we comply with them, and what we do when we violate them. The conflicts of laws that dot the legal landscape (in some cases more severely than in others) flow down to the discipline of compliance, and we as “compliance” practitioners wrestle with those conflicts.
6/29/16 3:15 PM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
Very recently, Uber announced that it was opening for business in Argentina. In those circumstances, Uber's app was available to Argentine users for some days, until it met different barriers which aimed to put it off the market.
6/28/16 12:20 PM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
All Business Law Section members are invited to the free CLE webinar “Bankruptcy Basics: What Every Business Lawyer Needs to Know About the Bankruptcy Process” this Thursday, June 30.
6/24/16 9:47 AM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
On May 11, 2016, President Obama signed the Defend Trade Secrets Act (DTSA) into law. This important new legislation creates a federal private civil cause of action for trade secret misappropriation in which "[a]n owner of a trade secret that is misappropriated may bring a civil action . . . if the trade secret is related to a product or service used in, or intended for use in, interstate or foreign commerce." Defend Trade Secrets Act of 2016, S. 1890, Sec. 2. The statute does not preempt existing state trade secret law regimes, but will exist in parallel, adding an enhanced toolbox of options for American companies' enforcement of their intellectual property rights.
6/23/16 10:35 AM CT | Author: ABA Membership and Marketing
Bringing structure to chaos is a good way to describe the work of Keith Porcaro of Social Impact Lab in Washington, DC. Just back from a project in India, this web developer-turned-lawyer is poised to battle the bureaucracy of the legal aid system. Hear his vision and post your questions.
6/20/16 9:42 AM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
Legislation aimed at updating the Section 13(d) beneficial ownership reporting requirements has been introduced in Congress. The Brokaw Act would direct the SEC to amend Section 13(d) rules to reduce the initial filing window period applicable to the acquisition of a 5% stake in an equity security of a company from 10 days to two business days and require disclosure of short positions. It would also broaden the definition of beneficial ownership to include any pecuniary or indirect pecuniary interest, and would expand the category of persons required to file under Section 13(d) to include "2 or more persons acting as a partnership, limited partnership, syndicate, or other group, or otherwise coordinating the actions of the persons.”
6/7/2016 3:30 PM CT | Author: Jeff Kelton, Section Membership & Marketing Specialist
The profession has seen a number of law firms dissolve in the last few decades. When law firms fail, a number of ethical and risk management issues surface that require careful and conscious planning to successfully navigate. These issues relate to everything from client property and client files, to conflicts of interest, client confidentiality, billing and collection of legal fees, and migration of lawyers and staff.
6/2/16 10:15 AM CT | Author: Kyle Carson
Welcome to Content Corner with the Business Law Section’s Taxonomy Specialist. Below is a list of the content that the Section has produced in May.
6/2/16, 9:00 AM CT
May 2016: a time of deep worry and insecurity for American business. As our society barrels toward deeper reliance on networked technology and the Internet, we are discovering the stumbling blocks in our path. One of the most persistent blocks is the security and dependability of our transactions in cyberspace, our reputations in the electronic world, and our vehicles’ connections to the great network.