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On Jan. 14, 2025, the Treasury Department issued final regulations designating certain related-party partnership basis shifting transactions as “transactions of interest.” Although this designation does not affect the substantive tax characterization of these transactions, it imposes significant reporting requirements on taxpayers and their advisors.

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Publicly traded REITs remain optimistic in the face of potential widespread cuts to federal leasing at the hands of the Department of Government Efficiency because they serve agencies performing the work the Trump administration is prioritizing, including mission-critical agencies.

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For more than six years there has been an ongoing debate regarding the enforceability of governance restrictions, whether blocking rights, golden shares and other provisions designed to manage access to bankruptcy relief. This year, another governance restriction was upheld in dismissing a bankruptcy filing by a debtor that failed to obtain the consent of the lender-approved independent manager as required by its LLC agreement.

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A federal judge in California declined to stop the debut of the new Netflix series Running Point that Pepperdine University in Malibu, CA, claims infringes on its trademarks by using the mascot name, the “Waves,” and colors of the private Christian college.

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The Second Circuit’s decision may have significant downstream implications for other digital lending services, making it more difficult to operate absent licensing agreements with copyright holders of the various works they seek to distribute. With Internet Archive deciding against petitioning the Supreme Court, we may well see similar litigation pop up in other jurisdictions outside the Second Circuit until the issue is more widely settled.

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More than 1,000 artists are credited on a “silent” record released on February 25 in protest over changes that the UK government is considering to its copyright law, changes which critics say will make it easier for AI models to use copyrighted material without securing a license.

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The Trump administration will likely impact the SEC whistleblower program in terms of a change in its enforcement priorities, as well as the amounts of financial bounties paid, but will not, in our opinion, threaten its existence given bi-partisan support or alter its core functions.

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Mastering AI tools is vital for law firms striving to remain competitive. The increasing demand for prompt and effective services means firms that do not adapt may fall behind.