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SOX Changes the Ink from Red to Black
In the last year and a half, public companies have been entrenched in their compliance or plan to comply with the Sarbanes-Oxley Act of 2002 (SOX). Regardless of the size, industry or profitability of the company, this task is proving to be much more consuming than originally thought. The first surveys of direct costs associated with compliance indicate a flow of red ink in the billions. The indirect cost may, by all accounts, be just as large. Do these staggering costs have any benefit other than compliance and therefore survival?
SOX has been characterized by many as a hastily prepared, poorly written piece of legislation. Most agree some reform was necessary after the revelation of the alleged and acknowledged misconduct by and systematic failures of several corporations and their advisers. However, the sweeping, all-inclusive nature of the most significant change in securities regulation in 50 years is all but overwhelming to many public companies. While SOX was intended to restore faith in the capital markets and is supported by many, it is not without its criticisms.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.