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In the Marketplace
On Aug. 10, President Bush signed into law legislation eliminating vicarious liability for auto lessors, which was passed by Congress on July 29. Under this new law, renting and leasing companies will no longer be held liable for accidents involving a customer solely on the basis of their ownership of the vehicle. If the company has not been negligent, it cannot be held liable.
Following the passage of this legislation, General Motors, Chrysler and Ford announced that they will resume vehicle leasing in New York, which had a controversial and some would argue antiquated “vicarious liability” law for vehicle lessors that left the owners of leased vehicles responsible for injuries and property damage caused by drivers. The passage of this new federal legislation served to repeal the New York law and similar state statutes.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."