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Arbitration Awards: What Is the Standard of Review?
The Third U.S. Circuit Court of Appeals decided a franchise-related case on Aug. 2 that addressed judicial review of arbitration awards. In Paul Green School of Rock v. Smith, the court of appeals was called upon to review the confirmation of an arbitration award by the district court. The arbitration award, among other things, imposed a covenant not to compete against a California franchisee, a remedy rarely imposed under California law.
Unlike Pennsylvania law, California law considers covenants not to compete to violate public policy. California federal courts seem to allow a “trade secret exception” to the prohibition against enforcement of non-competes, however, the trend of the state courts has been to conclude that no such exception exists. California state courts will enjoin competition only when necessary to protect trade secrets under the California Trade Secrets Act.
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.
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.
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?
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.