The World Economic Forum
May 09, 2005
The hills were alive with the sound of Sarbanes-Oxley in January when the Swiss mountain resort of Davos hosted the World Economic Forum. Representatives of some of Europe's largest companies discussed the impact of the U.S. legislation on their operations, asking whether the impact of the additional regulation was worth the prestige of a New York listing or the opportunity to raise money on the world's largest capital market. It was reported that up to 60 European companies were ready to drop their U.S. listings. The following Special Issue features a roundtable discussion on what this means to U.S. and EU business.
Special Issue: A Roundtable Discussion on Leading Compliance Issues in the U.S. and EU
May 09, 2005
Throughout the world, Sarbanes-Oxley (SOX) legislation might well have had the biggest impact in corporate governance since the introduction of limited liability. To that end, jurisdictions outside the U.S. have not been idle. A recent Eversheds survey found more than 100 studies on the topic in 29 European countries within and outside the EU. Clearly, proper compliance to corporate governance guidelines is top of the list to in-house counsel across the EU, as well as the U.S. To avoid civil and criminal penalties, multinational companies have to comply with laws and principles of good governance in all of the countries where they operate. U.S. legislation attempts extra-territorial reach. That legislation is in most cases in addition to, rather than in substitution for, local law, even for NYSE-listed entities. For multinationals, then, even if SOX is the beginning of the story, it is not the end. This roundtable sought to road-test some of these issues and look to some of the U.S.'s best governed corporations to see if there is a map for the journey ahead.
A Primer on Custody Issues in Pennsylvania and Beyond
May 03, 2005
Custody matters are addressed to the court, either as an initial Petition regarding custody, or as a Petition to Modify an existing custody order. Custody petitions may be brought by a parent, and under certain circumstances by a grandparent or by a third party. "It is axiomatic that in custody disputes, 'the fundamental issue is the best interest of the child.'" Charles v. Stehlik, 560 Pa. 334, 339, 744 A.2d 1255, 1258 (2000), quoting <i>Ellerbe v. Hooks</i>, 490 Pa. 363, 416 A.2d 512, 513 (1980). "Custody cases are unique in that they involve disputes between two people (generally parents) regarding the upbringing of their children. There is little applicability of substantive law from other fields into custody cases. Custody law and analysis will not be applied in situations other than those regarding children." <i>DeSanctis v. Pritchard</i>, 803 A.2d 230, (Pa. Super. 2002) (custody of a dog).
'Floating' Forum-Selection Clauses: The M/S Bremen Afloat in the Wake of Norvergence
May 02, 2005
On June 30, 2004 an Involuntary Petition under Chapter 11 of the Bankruptcy Code was filed against NorVergence, Inc., the New Jersey telecommunications company. While this filing represented the likely end of a telecommunications company which, at its zenith, employed 1500 people, with more than 11,000 equipment leases in effect worth some $200 million, it also marked the beginning of litigation arising out of those leases now being waged in various state and federal courts across the country involving thousands of lessees, scores of finance companies and dozens of governmental agencies.
Electronic Waste Recycling Laws Challenge the Leasing Industry
May 02, 2005
An increasing number of state legislatures are deciding that there is a need to recycle computer components and other electronic waste, also known as "e-waste," and thus are proposing diverse laws intended to encourage or require such recycling. Equally diverse, to the point of creating conflicts and confusion, are the ways in which the various state legislatures propose to raise the funds to pay for such programs. Two states, California and Maine, have enacted such legislation and, at press time, 14 states have proposed such legislation. On Jan. 1, 2005, California's law was the first to go into effect. This article describes the Equipment Leasing Association's policy on legislation requiring advanced recycling fees. The article reviews California's new e-waste law and highlights some of the concerns to the leasing industry with regard to California's law.
In The Marketplace
May 02, 2005
Highlights of the latest equipment leasing news from around the country.
Portfolio Management: Locating, Organizing, and Communicating Patent Information
May 02, 2005
Patent portfolio managers face a number of logistical challenges in developing, analyzing and deploying their organizations' patent assets. First, they need to be able to define the scope and content of portfolios under management or review. Second, they need to be able to organize and store information about those portfolios in a way that is repeatable, durable, and accessible. Finally, they need to be able to aggregate and communicate that information to drive budgeting, reporting, and strategy development.
