Showing 35 posts in News & Events.
On October 22, 2014, Governor Snyder signed Public Act 355 of 2014 into law. The cardinal rule of securities laws is that a person cannot sell a security unless the security is: (A) registered, or (B) exempt from registration. Public Act 355 creates a new exemption for secondary sales facilitated by a Michigan Investment Market. Read More ›
On June 25, 2014, the Supreme Court ruled that streaming television service, Aereo, violated U.S. copyright law. In American Broadcasting Companies v. Aereo, Inc., the Court overruled the U.S. Court of Appeals for the Second Circuit, holding that Aereo performs TV broadcasters works publicly within the meaning of the 1976 Copyright Act (the "Act"). Read More ›
Categories: Copyright, News & Events
Microsoft may soon find itself being held in contempt of court after refusing to abide by a U.S. District Court Order, requiring it to produce customer e-mail data stored by the company in Dublin, Ireland. The United States Department of Justice previously sought and obtained a search warrant for the production of customer e-mail data maintained by Microsoft as part of a criminal investigation relating to narcotics trafficking.
Judge Loretta Preska, chief judge of the United States District Court for the Southern District of New York, ordered Microsoft to produce the e-mail data in July, finding that, although the data was held overseas, it remained under Microsoft’s possession and control, over which the court maintained jurisdiction. Microsoft has yet to comply, claiming that the court lacks jurisdiction over the foreign e-mail data. The judge has since imposed a Sept. 5 deadline for the parties to inform the court on how they plan to proceed. Read More ›
Categories: News & Events, Privacy
The Federal Aviation Administration is considering several petitions for commercial use of low-risk unmanned aircrafts, commonly called drones. Although the most widely-publicized interest in commercial drone use came from Amazon's Jeff Bezos late last year, commercial interest exists for a variety of other uses including both filmmaking and farming. Read More ›
Categories: News & Events
Since the passing of the Crowdfunding Act in December 2013, many questions concerning the applicability of the law have surfaced. This past month, the Michigan Municipal League launched CrowdfundingMI.com, a website pertaining to crowdfunding in Michigan. It is an excellent resource intended to answer basic questions and importantly, aimed to help local businesses connect with investors. The website provides general information, along with frequently asked questions, and tutorials regarding the benefits of crowdfunding Read More ›
On June 18, the United States Patent and Trademark Office ("USPTO") cancelled the Washington Redskins' trademark in its team name, concluding that the term "Redskin" was racially offensive and derogatory towards Native Americans.
Under the Lanham Act, Federal Trademark Law prohibits the registration of trademarks that "may disparage" individuals or groups or "bring them into contempt or disrepute." In a controversial 2-1 decision, the USPTO agreed with a group of petitioners who claimed the team name was disparaging to Native Americans, and thus was not permitted to receive the protections afforded by trademark law. The Washington Redskins plan to appeal the decision and have responded by saying that the term is meant to honor Native Americans and is not considered offensive by many. Read More ›
Categories: News & Events, Trademarks
The Seventh Circuit Court of Appeals has recently affirmed a decision stating that many of the older Sherlock Holmes stories by Sir Arthur Conan Doyle are in the public domain. The court held that just because later versions of a character are still protected by copyright, does not mean that the copyrights in those earlier stories continue to exist beyond the copyright term. The Doyle estate argued that the later stories added to the "complexity" of the characters and should provide some measure of protection. Read More ›
Categories: Copyright, News & Events
The IRS has warned that virtual currencies, such as Bitcoin, are to be treated as property and not as currency for tax purposes. Read this latest Bitcoin update on our tax blog.
Want to learn more about Bitcoin? Check out this blog post from November on what it is and where it is going.
Categories: E-Commerce, News & Events
This post will discuss the definition of an “accredited investor.” The distinction between accredited and non-accredited investors is important. Non-accredited investors cannot invest more than $10,000 under Michigan’s new intrastate crowdfunding exemption. Accredited investors, on the other hand, are not subject to the $10,000 investment cap. Read More ›
Part 1 of this series discussed the 12 basic requirements that must be met to utilize Michigan’s new intrastate crowdfunding exemption.
This post will take a deeper look at Requirement 2. As noted in Part 1, Requirement 2 states that the offer must meet the requirements for the federal exemption for intrastate offerings under Section 3(a)(11) of the Securities Act of 1933 (the “1933 Act”). Read More ›