The U.S. Court of Appeals for the Federal Circuit (“Federal Circuit”), in In re Simon Shiao Tam, held the seventy-year old disparagement clause of Section 2(a) of the Lanham Act unconstitutional on December 22, 2015. Under Section 2(a), a trademark shall be refused registration if it consists of “matter which may disparage…persons, living or dead… or bring them into contempt, or disrepute ...
Recent reports indicate that the number of mergers that were challenged by stockholders during the fourth quarter of 2015 dropped significantly, with estimates ranging from 34% to 21%.1 This is a seismic shift from prior years, when almost 95% of public company transactions resulted in litigation. The drop in lawsuits is attributable to a series of rulings by the Delaware Court of Chancery during the second half of last year ...
On 23 January 2015, the Supreme Court delivered a judgment concerning the moderation of an invalid non-competition clause in a business transfer agreement. This judgment arose after the Ghent Court of Appeal had refused to moderate a non-competition obligation lasting for period of 17 years. In line with previous case law, the clause was declared absolutely null and void and the Ghent Court of Appeal ruled that the clause could not be mitigated in any way ...
This week, in Teladoc, Inc. v. Texas Medical Board, 1-15-CV-343 RP, the U.S. District Court for the Western District of Texas, in one of the first federal decisions interpreting North Carolina State Board of Dental Examiners v. Federal Trade Commission, 135 S. Ct. 1101 (2015), denied the Texas Medical Board immunity from an antitrust claim in a narrow reading of the state-action immunity doctrine. To read the full alert, click here ...
On November 14, 2015, the Supreme Court of Canada rendered three decisions on the application of the the Bankruptcy and Insolvency Act, RSC 1985, c. B-3 (BIA) and its interaction with certain provincial statutes.OVERVIEW OF THE FACTSIn Saskatchewan (Attorney General) v. Lemare Lake Logging Ltd. Ltd ...
Many healthcare boards believe that they have satisfied the 501(r) community health needs assessment (CHNA) requirements by completing their organization’s CHNA report and adopting an implementation strategy. After doing that, the board may feel ready to focus on other pressing issues until the next three-year CHNA deadline ...
Cuba’s stated goal of attracting billions of dollars in foreign investment combined with the United States’ effort to re-establish diplomatic ties with Cuba have sparked intensified interest amongst potential investors seeking to enter the Cuban market.As with any emerging market, potential investors must balance the potential risks faced in doing business with the potential return on their investment ...
The Philippines section of The Mergers & Acquisitions Review 9th Edition contains an overview of M&A activity in the country, general introduction to the legal framework for M&A, developments in corporate and takeover law and their impact, foreign involvement in M&A transactions, significant transactions, key trends and hot industries, financing of M&A, main sources and developments, employment law, tax law, competition law, and outlook ...
Last October 30, the provincial government announced the creation of 'Passeport Entreprises', an action plan focused on two main points: to facilitate access by businesses to government contracts and make the Quebec government's tendering processes more transparent and rigorous ...
Since the new Chinese government came into power in 2013, it has proposed a host of new strategies to realise the “Chinese Dream”. One of the more significant strategies, led personally by President Xi Jinping, is known as “One Belt, One Road” plan, which will have a huge, undeniable impact on the global economy over the next 10 years. The One Belt, One Road strategy aims to provide a comprehensive roadmap for partnership between China and the rest of the world ...
The Trans-Pacific Partnership, or TPP is a free-trade agreement among the members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.On Nov. 5, the full text of the TPP trade agreement was released to the public for the first time. While, as reported, an agreement on the TPP was reached Oct. 5, each of the members must still enact it.An important component is the chapter on investments, which protects investors ...
Modern day company law has largely moved away from the concept of “ultra vires” which sought to limit the ability of a company to enter into transactions outside its stated objects. The British Virgin Islands officially moved away from the concept in 2005 pursuant to provisions under the BVI Business Companies Act ...
Known worldwide for its robust shipping registry, trusts, funds, and corporate law sectors, the British Virgin Islands is emerging as a globally competitive jurisdiction for registering and protecting intellectual property, thanks to the enactment of the highly anticipated Trade Mark Act, 2013. The Act, which clarifies, protects, and streamlines the trademark processes, institutes beneficial legal proceedings and conditions for the welfare of intellectual and industrial properties in the BVI ...
Systemic amendments to Poland’s Bankruptcy & Recovery Law enter into force on 1 January 2016. The main goal of the amendment is to create separate restructuring proceedings governed by the new Restructuring Law. Restructuring proceedings are to replace the former bankruptcy proceedings involving conclusion of an arrangement, as well as recovery proceedings, currently conducted under the Bankruptcy & Recovery Law ...
On 22 September 2015, the U.S. District Court for the Central District of California considered whether Warner/Chappel Music, Inc. (Warner) owned the copyright to the infamous Happy Birthday lyrics. U.S. District Judge George H. King held that Warner, which had been receiving c$2million dollars per year in royalties, failed to adduce convincing evidence that it owned the copyright to the Happy Birthday lyrics (as distinct from the melody which is already in the public domain) ...
The Trans-Pacific Partnership (“TPP”) is a free-trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States (the “TPP Members”). While, as reported, an agreement on the TPP was reached on October 5, 2015, each of the TPP Members must still enact the TPP. On November 5, 2015, the full text of the TPP trade agreement was released to the public for the first time ...
CMS and OIG Finalize Waivers for ACOs in the Medicare Shared Savings Program Effective October 29, 2015, the Centers for Medicare & Medicaid Services (“CMS”) and the Office of Inspector General (“OIG”) of the Department of Health & Human Services (“HHS” or “the Department”) finalized the waivers of certain fraud and abuse laws to specified arrangements involving accountable care organizations (“ACOs”) in the Medicare Shared Savings Program (“MSSP”) ...
The staff of the Securities and Exchange Commission’s Division of Corporation Finance, in connection with its review of periodic reports filed by exploration and production (E&P) companies in 2015, has recently issued a number of comment letters to these companies asking them to quantify the impact of low commodity prices on their proved reserves and results of operations ...
On 15 July 2015, the Indonesian Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) issued a circular letter on the new mechanism and procedures for obtaining Principle License applications, aimed particularly at businesses in the consultancy services sector, as an effort to boost investors’ commitment and investment realization (formally, Circular Letter No ...
As an update to our previous Newsletter regarding Regulation No. 17/3/PBI/2015 regarding the Obligation to Use Rupiah in the Territory of the Republic of Indonesia (“BI Regulation”), Bank Indonesia (“BI”) has issued an implementing regulation regarding the mandatory use of Rupiah under BI Circular Letter No. 17/11/DKSP (“Circular 17”) ...
The U.S. Securities and Exchange Commission (the “Commission”) is continuing to scrutinize municipal bond offerings and bring enforcement actions aimed at improving underwriter due diligence and increasing information to investors. On September 30, 2015, the Commission announced a second round of enforcement actions under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, securing settlements against 22 underwriting firms ...
So, Paris in Spring was followed by New York in Fall (well, the back end of summer!) as our international network, World Services Group, gathered for its annual global conference attended by over 150 delegates from 72 countries. It would be easy to talk about the positive mood and upbeat rhetoric from speakers and delegates alike, about the state of world markets, ambitious corporates, cross-border opportunities and access to finance ...
This week the European Union Court of Justice (“EUCJ”) struck down the U.S.-EU Safe Harbor Framework governing the transfer of personal data from the European Union to the United States that had been in place since 2000 (“Safe Harbor”).1 Case C-362/14, Schrems v. Data Prot. Comm’r, 2015 E.C.R. ---. Safe Harbor governed the most common set of requirements under which organizations could legally transfer personal data from EU member countries to the U.S ...
It’s no surprise that the National Cybersecurity Center of Excellence (NCCOE) has extended the public comment period for one of its newest guides, “Securing Electronic Health Records on Mobile Devices ...
On September 25, 2015, the Texas Board of Pharmacy (“TBP”) issued proposed rules that will allow pharmacists to substitute interchangeable biological products for brand name drugs. Currently, Texas regulations only allow for the substitution of lower-priced, generically equivalent drugs instead of certain brand name drugs. In contrast, the proposed rules allow pharmacists to dispense interchangeable biological products ...
