Showing 38 posts from 2014.
Beware of the Statutory Bars
So you had one of those “Eureka!” moments a while ago and your epiphany is going to make millions as soon as it hits the shelves. This blog is about making sure you don’t lose your right to patent that million dollar idea by waiting too long to file a patent application.
Generally, an invention can only be patented if a patent application is filed within one year of the invention's first disclosure. A public disclosure can take the form of: 1) a publication, 2) a public use, or 3) an offer for sale. In the patent world, these events are called the statutory bars because they bar you from filing a patent on the idea if one year has elapsed since the event. Read More ›
Categories: Intellectual Property, Patents
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The Importance of IT Contract Review
Technology is increasingly becoming an essential component of all industries. This is especially true for the health care industry. As health care providers continue to increase their use of technology, they are asked more and more frequently to enter into software or other IT contracts. Before entering into a contract, no matter the industry, you should always have an attorney review the document.
Learn more about IT Contract Review for health care providers on our Health Care Law Blog here.
Are you interested in IT Contract Review for another industry? Contact one of our technology attorneys to help you review your agreement before you face unexpected problems or unwanted liability.
Categories: IT Contracts
Provisional Patent Applications
I get a lot of questions from clients about “provisional patents." Let me just start this blog by clarifying once and for all that there is no such thing as a “provisional patent” anywhere in the Patent Act. However, since 1995 the USPTO has offered inventors the option of filing a provisional patent application under §11(b) of the Patent Act. Provisional applications have some interesting advantages of which you should be aware. Read More ›
Categories: Patents
Bitcoin Update
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
PART 3: New Michigan Law Permits Intrastate Crowdfunding
Part 1 and 2 of this series discussed the basic requirements that must be met to utilize Michigan’s new intrastate crowdfunding exemption.
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 ›
Categories: Crowdfunding, Venture Capital/Funding
Hydraulic Fracturing Fluid = Trade Secrets
The toxic cocktail of chemicals in a company’s hydraulic fracturing fluid – much like Coca Cola’s secret recipe - is a trade secret.
Fracking involves pumping water, chemical fluids and sand underground into rock formations to fracture the rocks; the granular sand keeps the cracks open, thereby allowing the release of oil and natural gas from the fractured created rock veins. Read More ›
Categories: Trade Secrets
YouTube Video Admitted as Character Evidence in Murder Case
Did you know that the YouTube video you just posted may be used in court to determine your character? In a Delaware case, Gallaway v. State, a video of a man using mouthwash as a decongestant may have been the difference for the jury, which found him guilty of murdering his daughter. The father claimed he was performing stretching exercises with his daughter when she slipped and fell on the floor. A few days after the fall, she died from suspected non-accidental trauma. Read More ›
Categories: Social Media
Part 2: New Michigan Law Permits Intrastate Crowdfunding
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 ›
Categories: Crowdfunding, Venture Capital/Funding
New Michigan Law Permits Intrastate Crowdfunding
Note: This post is Part 1 of a multi-part series regarding Michigan's new crowdfunding law
It's official, crowdfunding is legal in Michigan. So, what does that mean for your business? Let's start with the basics.
Federal and state law prohibit a business from selling a security unless: (A) the security is registered with the SEC, or (B) an exemption from registration is applicable. Registration is expensive, so nearly all businesses try to satisfy an exemption from registration. Historical exemptions have made it difficult for businesses to receive investment from "non-accredited" investors and flat out prohibit "general solicitation" (i.e., public advertising of the investment, including advertising on the Internet). Those historical difficulties, however, have recently been eased. Read More ›
Categories: Crowdfunding, Venture Capital/Funding
The SEC Proposed Crowdfunding Regulations: Funding Portal's Transaction Responsibilities
Posting of Issuer Disclosures. In prior blog posts, we described the disclosure obligations imposed on the issuer (the company that is raising capital) under the SEC's proposed crowdfunding regulations. (Read: The SEC Crowdfunding Proposed Regulations: Overview of Offering Statement & Non-Financial Disclosure Requirements and The SEC Crowdfunding Proposed Regulations: Overview of Issuer Financial & Disclosure Requirements). The proposed regulations impose certain requirements on the funding portal to make sure that these issuer disclosure obligations are met. Specifically: Read More ›
Categories: Crowdfunding, Venture Capital/Funding
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