Real estate purchase and sale contracts have included the magic language, "Time is of the Essence" (TOE), seemingly since time immemorial. Practitioners should be mindful, however, of the meaning of TOE and the significance of its absence from a contract.
In The Medicines Company v. Hospira, the Federal Circuit provided clarity and guidance to companies that rely on contract manufacturing, holding that "to be 'on sale' under '102(b), a product must be the subject of a commercial sale or offer for sale, and that a commercial sale is one that bears the general hallmarks of a sale pursuant to Section 2-106 of the Uniform Commercial Code."
Over the past two years I have been involved in three merger situations and I am currently working on two more. I have come away with six factors that, I believe, determine the success or failure of law firm merger discussions.
In June, in Cuozzo Speed Technologies, the Supreme Court upheld the prior Federal Circuit decision that a patent owner cannot, in most circumstances, appeal the decision of the Patent Trial and Appeal Board to institute an inter partes review.
Since Cravath, Swaine & Moore upped the ante on associate salaries this Spring, others in the big law community have responded gradually, some going all-in and others devising region-specific pay scales. In the current market, industry watchers say, the salary game has changed, and most firms will need to take the more thoughtful approach.
Legal professionals interested in the next wave of innovation in litigation technology can look overseas to the developments over the last several years in the UK and Singapore.
Have you heard? Social media is mainstream ' 70% of the U.S.are using social media and more than 50% of them are over the age of 35 (that's right ' it's not just millennials). But did you know that in-house counsel are active social media participants? In fact, their usage is growing and today nearly two-thirds of general counsel (GCs) are engaging at least weekly in social media for professional reasons.
Your favorite internal client has just messaged you about a new contract that needs a rush review. The counterparty is reportedly one of the hottest new "fintech" companies in Silicon Valley. You are the master of all things vendor contract-related in your shop, but perhaps this is the first fintech contract to cross your desk. This article addresses some of the special issues that might be presented by this sort of contract.
The announcement on June 21, 2016 by the Department of the Treasury provides further bright line tests for benefits provided by non-profits for their executives and professionals.
