Commercial Law

Features

In <i>Lothian Oil</i>, discussed herein, the Fifth Circuit considered for the first time whether a bankruptcy court has the power to recharacterize debt as equity.

It's taken more than 30 years for the legal profession to overcome the long-standing tradition under which any form of frank marketing and promotional activity has been considered unacceptable.

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While attorneys understand the importance of client confidentiality, many are less concerned about data security. This can be a serious oversight, since law firms are becoming increasingly vulnerable to security breaches. As other industries such as healthcare, financial services and the government start to recognize the dangers of security breaches and deploy more stringent security measures, the hacker community has begun to eye the legal industry as low-hanging fruit.

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In <i>Kahn v. Kohlberg, Kravis, Roberts &amp; Co., L.P.</i>, the Delaware Supreme Court's broad reading of <i>Brophy</i> re-establishes the right of Delaware stockholders to sue corporate fiduciaries to disgorge profits from insider trading &mdash; regardless of harm to the corporation, and regardless of the avenues provided by federal securities laws to address insider trading claims.

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Cloud storage is ideal for music. Music files are large enough to require substantial storage space, small enough to stream over relatively low bandwidth (such as a 3G wireless connection) and desirable to have available on mobile devices. Unsurprisingly, however, this business model brings with it various legal issues for the cloud storage provider.

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The Seventh Circuit recently affirmed a ruling that the purchaser of a claim based upon an executory contract that was ultimately rejected by a Chapter 11 DIP is not entitled to cure amounts as part of its allowed claim.

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Arbitrators' Findings Upheld in Legal Malpractice Dispute over Talent Agencies Act Controversy<br>Contingency Fee Agreement Applies to Potter Guide Post-Trial Settlement

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As part of day-to-day operations, companies regularly enter into intellectual property assignments or "work-for-hire" arrangements with employees and contractors, often pursuant to form agreements that are not tailored to the particular engagement. However, decisions such as the recent opinion by the U.S. District Court for the Southern District of New York in <i>Marvel Worldwide v. Kirby</i>, highlight the importance of carefully drafting provisions governing the transfer of rights in new works of authorship.