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NY Tax Law May Have Far-Reaching Effects
Franchisors and franchisees will be heading into uncharted territory in New York state when a new law takes effect in December 2009. The new law is incorporated into the state's sale tax statutes (Subpart G of Part V-1 of Chapter 57 of the New York State Laws of 2009), and it requires that every franchisor must provide the Department of Taxation and Finance (“Department”) with contact information and extensive sales and tax data about each franchisee that is operating in the state.
Originally, the legislation was slated to come into effect on Sept. 20, 2009, but the Department delayed the first reporting deadline to Dec. 20, after receiving critiques from the International Franchise Association (“IFA”) and individual franchisors and franchise attorneys.
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."