A recently enacted New York State law is decreeing a significant alteration to employment clauses, specifically to the clauses relating to employee inventions. Officially signed into action by New York Governor, this law immediately impacts employer’s utilization of certain employment agreements and their implications. The pivotal and somewhat controversial aspect of this law revolves around…
In a recent legislative move, New York has altered the implementation of “Invention Assignment” provisions in employment contracts. The details of this change were outlined on September 15 when the region enacted Labor Law Section 203-f. The law now imposes limitations on the enforceability of invention assignment provisions in employment agreements. As per the new…
In a recent legal development, landlords in Pennsylvania (PA) and New Jersey (NJ) need to be aware of two pending cases before both the Supreme Courts of PA and NJ. These cases, which involve property law, are not often seen reaching state supreme courts, making their progression noteworthy. The cases were presented by Obermayer Rebmann…
It’s perhaps an unexpected turn in Katy Perry’s career, but the pop star, more commonly known for chart-toppers like “I Kissed A Girl”, recently found herself making headlines in the legal world. Not for her music, though, but as the namesake of proposed legislation aiming to protect senior citizens from potentially exploitative real estate transactions….
In a recent development in Illinois, Attorney General Kwame Raoul has filed a lawsuit against Residents Energy, LLC, claiming that the alternative retail electric supplier committed a severe breach of both the Illinois Consumer Fraud and Deceptive Business Practices Act and the Illinois Telephone Solicitations Act. The crux of the issue lies with the allegation…
On September 19, 2023, a defining decision was made in the United States District Court for the Southern District of New York (SDNY) that gave enhanced clarity to jurisdictional boundaries concerning regulations enforced by the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Such boundaries have been a point of contention…
In the complex and often unfathomable world of international corporate law, understanding the differences in the enforcement of arbitration awards and expert determinations can hold the key to a successful resolution of dispute. While on the surface they may present similarly, these two forms of adjudication differ in fundamental ways, as highlighted by a recent…
As reported recently, the U.S. Securities and Exchange Commission (SEC) has proposed substantial form and rule changes envisaged to instate a custom-made registration form for index-linked annuities. This move follows political direction via the Registered Index-Linked Annuities Act of 2022 (RILA Act). More information can be found here. While variable annuity contracts have specific registration…
In an effort to make clean energy projects more affordable and feasible for corporations, Sam Kamyans and Roald Nashi of Kirkland & Ellis discuss innovative approaches for entering into bankable revenue contracts for energy transition projects. The aim is to align these projects with the 2050 net-zero emissions goal. This novel approach employs the use…
Blockchain-based sports betting, rapidly maturing into a multi-billion-dollar global industry, may find a formidable barricade in U.S law. Expected to hit $180 billion by 2030, the largely online global sports gambling industry has begun to attract blockchain-based startups interested in disrupting the space. Notably, even the founder and former CEO of FanDuel, a major player…
In an important announcement, Ford Motor Co. has informed that they have reached their limit in terms of financial offer to the United Auto Workers (UAW). Their substantial offer of a 23% raise is claimed to be the best the company can do without damaging itself economically. In light of their ongoing negotiations, the UAW…
The Kingdom of Saudi Arabia has enacted a new Civil Code that underscores its commitment to inviting the international business community into its jurisdiction. One component that merits close attention, especially for project owners, contractors and service providers across the energy, construction and infrastructure sectors, is the newly implemented liquidated damages regime. Article provided by…
The Small Business Administration (SBA) and the Information Security Oversight Office (ISSO) released a Joint Notice aiming to clarify the operation of Facility Security Clearances (FCLs), also known as Entity Eligibility Determinations (EEDs), for joint ventures. This notion of FCLs is no stranger to discussion, as in recent years, SBA regulations have underlined that procuring…
Starting on January 1, 2024, the federal contractor employees can expect a rise in their hourly minimum payment to $17.20. An increase as such primarily caters to specific federal contractor employees, as per the announcement made by the Wage and Hour Division of the United States Department of Labor (DOL) and as published in the…
On September 15, 2023, New York state enacted a new law, which drastically changes existing rules around employee inventions being assigned to employers and could potentially have ripple effects across the corporate legal landscape. Before this legislative change, virtually all employee confidentiality and similar agreements contained an assignment of invention provision, according to Tannenbaum Helpern…
In a recent North Dakota Supreme Court ruling, the court determined that a driller failed to begin reworking operations as per the contractually set schedule. This ruling impacts the diverse and intricate processes involved in the functioning of modern producing gas wells, which inherently stands as a sophisticated and complex piece of equipment. The well…
Eric Ransom recently returned to Crowell & Moring as a partner in their government contracts group. As part of his role, Ransom will deliver strategic advice regarding procurement laws, regulations, best practices, and their relationship with artificial intelligence and defense technologies. Prior to his newly reinvigorated partnership at Crowell & Moring, Ransom was assigned significant…
In this era of increasingly intricate government contracts, it is crucial for legal professionals dealing with such matters to familiarize themselves with the complexities of the Federal Acquisition Regulation (FAR) cost principles. As we pivot back to the Cost Corner this March, we aim to offer practical insights into the convoluted cost and pricing requirements…
In an evolving situation, the future of the 8(a) Program finds itself in a dubious position. Following a recent federal court decision dated July 19, 2023, the Small Business Administration (SBA) now grapples with the challenges to adapt to new circumstances. The court questioned the constitutionality of the 8(a) program’s rebuttable presumption of social disadvantage…
In the ever-evolving landscape of regulations, the U.S. Small Business Administration (SBA) has demonstrated an active role. Over the past decade, numerous adjustments to regulations have instigated significant shifts in the legal and business domains. Particularly pertinent are the recent amendments concerning size protests related to set-aside contracts and orders awarded to various small business…
In recent news, noncompete agreements have found themselves under close scrutiny, as significant shifts in state and federal policy loom on the horizon. These potential transformations are most evident within the activities of the Federal Trade Commission and the New York State Legislature. In essence, noncompete agreements are contracts that prohibit an employee from working…
In recent developments concerning the banking sector in the United Kingdom, the UK government and the Financial Conduct Authority (FCA) have released new reports detailing their policies on bank account terminations and freedom of expression in payment service contracts. These updates come after a policy statement was published in July 2023 that initially addressed these…
The decision to sell a veterinary practice is often a significant moment in a business owner’s life, accompanied by its own set of highs and lows. This decision can be motivated by various factors such as a new opportunity, relocation, or retirement. When considering such a decision, there are several critical elements to ponder. According…
The Commodity Futures Trading Commission (CFTC) recently proposed changes to Regulation 4.7 that would influence longstanding exemptions from some compliance requirements for Commodity Pool Operators (CPOs) and Commodity Trading Advisors (CTAs). As detailed by WilmerHale, these proposed rule changes could have significant implications for the future operations of CPOs and CTAs. In the existing framework,…
Coming into effect on January 1, 2024, federal contractors are set to observe a minimum wage increase from $16.20 per hour to $17.20 per hour. This key amendment will apply chiefly to most federal contracts which are entered into or extended after January 30, 2022. The changes extend beyond simply an uplift in hourly wages;…