Showing 51 posts in News & Events.
A drink cooler that doubles as a blender and stereo system. A card game called “Exploding Kittens” for “people who are into kittens and explosions and laser beams and sometimes goats.” A motion picture starring Kristen Bell. These are a few of the inventions and initiatives that have received the most funding on Kickstarter, the popular crowdfunding site.
Kickstarter is an online platform that allows project creators to seek financial backing. If people like a project, they can pledge money to make it happen. Funding on Kickstarter is all-or-nothing - a project must meet its funding goal to receive any money at all.
I have previously written about the tax implications of Kickstarter campaigns here.
While there’s always a risk that a project won’t make it from concept to completion, most backers have an expectation that their monetary pledge will be used in good faith and for its intended purpose. Read More ›
The recently formed Cybersecurity Unit of the Criminal Division of the Department of Justice (the “DOJ”) recently issued guidance regarding best practices for organizations to protect against and respond to cybersecurity risks. The guidance, titled “Best Practices for Victim Response and Reporting of Cyber Incidents,” was drafted with smaller organizations in mind, but has relevance to larger ones as well.
The DOJ urges organizations to prepare an incident response plan before a breach occurs, and recommends that an organization do the following: Read More ›
Categories: News & Events
You’ve likely heard of Bitcoin, the virtual currency that has made headlines over the last couple of years for its increasing popularity and wild swings in value. However, you may not have taken notice of other, lesser-known virtual currencies being developed by startup technology companies. But the U.S. Department of Treasury is watching closely.
Ripple Labs, which manages its own cryptocurrency called XRP, and which has raised over $34 million in venture capital from investors, was recently slapped with a first-of-its-kind $700,000 penalty by the Financial Crimes Enforcement Network (FinCEN). The fine comes as a result of a settlement with FinCEN and stems from violations of regulations under the Bank Secrecy Act and for failure to register with FinCEN despite operating a money service business. The company is also being penalized for not implementing an anti-money laundering program. Read More ›
Categories: News & Events, Venture Capital/Funding
Unmanned aircraft systems - drones - are become increasingly popular and less expensive. From drone pilot hobbyists to online retailers, recreational and business use of drone technology is likely to increase over the coming years. The Federal Aviation Administration (FAA) has taken notice. Read More ›
Categories: News & Events, Social Media
Watch the short video clip below for three tips on how to sell your reality TV show.
Watch the video:
Categories: News & Events
On June 25, 2014, the United States Supreme Court ruled that cloud-based television-streaming service, Aereo, violated U.S. copyright law and its subsequent Chapter 11 bankruptcy filing has come to a dramatic conclusion. We have followed this case throughout its lifecycle, and updated this blog with posts like this one to keep you up-to-date on its implications for copyright and telecommunications regulations. Now, as reported by Inc. and other media, the company’s sale of its technology – once considered disruptive and wildly innovative – for a “disappointing” $2 million brings the technology company’s story to an end.
Following the Supreme Court’s ruling, Aereo filed for bankruptcy, and recently conducted an auction sale of its intellectual property and hardware in order to raise funds to pay creditors. The company sold its name and customer list to TiVo, and its patent portfolio to RPX Corporation, which has been categorized by some as a patent troll. Aereo sold off its remaining equipment to Alliance Technologies. Aereo had expected the sale to raise up to $40 million. Read More ›
A decision in a copyright infringement case concerning the song “Blurred Lines” casts ambiguity on the future of expression and copyright protection in the music industry. On Tuesday, March 10, an eight-person jury in Los Angeles concluded that Robin Thicke and Pharrell Williams, the performer and songwriter-producer of the most successful song of 2013, “Blurred Lines,” committed copyright infringement by using elements of the 1977 Marvin Gaye song, “Got to Give it Up,” without proper credit. Read More ›
Have your filed your individual tax return? Be sure to read the blog post, "One Reason You May Want to File Your Tax Return Early this Year: Identity Theft," on Foster Swift's Tax Law Blog and file early this year.
Categories: News & Events, Tax
The Federal Aviation Administration (FAA) just released proposed rules regarding unmanned aircraft systems ("UAS" or "drone") in United States airspace. The rules are not final, and the FAA is expecting public comments regarding the proposed rules in the next 60 days.
The current unmanned aircraft rules will remain in place until the final new rule is approved by the FAA. You can check out our previous post here or view the FAA site here to find out more about the current rules.
Here is a quick summary of what the FAA proposed. The stated goal of the new rules is to balance aviation safety with the regulatory burden on UAS operators. Read More ›
Categories: News & Events
Michigan’s economy has made notable strides in recent years toward retaining and attracting business and creating more high-quality jobs. On Dec. 18, Gov. Rick Snyder announced an executive order aimed at keeping that forward momentum alive. Snyder said that the newly created Michigan Department of Talent and Economic Development will organize the state’s job training and economic development efforts under one unified department.
This new organizational structure brings to bear more state resources to train Michigan workers for in-demand jobs – in the skilled trades and in fields like IT and advanced manufacturing – that employers are having trouble filling.
What does the reorganization look like?
Categories: Employment, News & Events