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Utah and Michigan 'Do-Not E-Mail' Programs Take Effect
October 03, 2005
It is of concern to and important for e-commerce ventures to note that two states ' Michigan and Utah ' now prohibit the sending of certain kinds of e-mail messages to destinations listed on state-maintained registries. The new laws are directly at variance with the policy of the federal government, which so far has declined to adopt a do-not e-mail list. <br>But unless, and until, the Michigan and Utah registries are declared to be pre-empted by federal law, affected businesses should obtain and comply with those states' registries.
Two Rulings Toss Internet Stings
October 03, 2005
Two courts in the last 8 weeks have overturned the convictions of people accused of using the Internet to solicit sex from minors because the victims were actually law enforcement agents ' not true minors.
e-Commerce Docket Sheet
October 03, 2005
Recent cases in e-commerce law and in the e-commerce industry
Control Of The Internet
October 03, 2005
If the Internet is nongovernmental, then it may generate terms-of-use agreements to prohibit political speech. But if the Internet is governmentally controlled, then Internet users have a First Amendment right to use the Internet for public speech. <br>The give-and-take of who has the ability and vested authority to control constitutional matters is one in frequent debate, but the principle commonly known as the state action doctrine clearly sets forth the concept that only government actors are subject to certain constitutional limitations. Most important, the state action doctrine is a preliminary test for determining which cases are worthy to proceed on their merits with respect to whether constitutional rules apply.
Australian Court Finds For Music Company
October 03, 2005
Justice Murray Rutledge Wilcox of the Federal Court held that certain defendants associated with Sharman Networks were liable for "authorization" of copyright infringement as a result of having distributed the Kazaa file-sharing software. <br>Notwithstanding substantial differences between the legal systems and copyright jurisprudence in Australia and the United States, <i>Grokster</i> and <i>Sharman</i> demonstrate remarkable similarities in analysis.
The MLF 50: The List
October 03, 2005
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Cape Town Convention: Complex Questions and Significant Opportunities
October 03, 2005
The Cape Town Convention on International Interests in Mobile Equipment ("Cape Town" or "CT") and the related Aircraft Protocol ("Protocol") (<i>www.unidroit.org/english/conventions/mobile-equipment/main.htm</i>) continue to advance slowly toward an expected effective date in 2006. When the Protocol enters into force it will affect virtually every commercial and business aviation transaction in the United States and many other nations around the world. Although Cape Town and the Protocol (collectively, the "Treaty") promise to facilitate aircraft financing and provide new financing opportunities, the Treaty also poses numerous questions and requires new approaches to documenting and closing aviation transactions.
Are Your Lease Payments Still Deductible? The Confounding IRS Guidance Limiting the 'Entertainment' Use of Business Aircraft
October 03, 2005
In its zeal to eradicate perceived abuses and further clip the wings of executives who, based on press reports, took great pleasure in using the company's airplane for personal purposes, Congress amended section 274(e)(2) of the Internal Revenue Code (the "Code") in the American Jobs Creation Act of 2004 ("AJCA"). Effective on the date of enactment (Oct. 22, 2004), these amendments effectively reversed the decisions of the Tax Court and Eighth Circuit in <i>Sutherland Lumber-Southwest, Inc. v. Commissioner</i>, 114 T.C. 197 (2000), <i>aff'd</i> 255 F.3d 495 (8th Cir. 2001), <i>acq.</i> AOD 2002-02 (Feb. 11, 2002), and prompted the Internal Revenue Service ("IRS" or the "Service") to issue guidance containing a myriad of rule changes and hinting at others, leaving tax practitioners scratching their heads and companies running for cover.
In the Marketplace
October 03, 2005
Highlights of the latest equipment leasing news from around the country.
<b>Op Ed</b> Extreme Makeover: Law Firm Edition
October 03, 2005
While doing my research for the MLF 50, there was a moment in time when it suddenly became clear to me that, for the most part, law firm management still doesn't understand marketing and what it can ' and more importantly cannot ' do for a firm. When it comes to marketing, lawyers are still in the "everyone else is doing it so we better do it too" mode. Without regard to actually making a concerted effort to understand marketing, the unfinished agenda of law firm marketing programs spills out on to the streets and are left at the curb of every city and town in the United States. <br>Let's face facts. There may be 50 firms that are doing some great things that will impact their respective firms; but in reality, most marketing programs are doomed to fail because of the lack of commitment and vision on the part of the partnership and the management of law firms.

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    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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