July 09, 2024

Sitting in the Windy City? Breathe Easy with this new Illinois Short Form Stock Purchase Agreement

No matter where you actually sit, if you have a straight-forward stock purchase and sale transaction governed by Illinois law, Practical Guidance has you covered. Our short form templates are designed for simultaneous sign and close transactions and will streamline your acquisition process, ensuring a smooth and swift journey from handshake to handover. Tailored with drafting notes addressing state-specific nuances, use...

July 09, 2024

Short-term Rentals are Here for the Long Term

With the expansion of the short-term rental market, many jurisdictions are addressing concerns caused by the influx of transient occupants, including safety and liability issues. Learn about New York City’s Short-Term Rental Registration Law, also known as Local Law 18. Read now » Related Content Short-Term Rental Regulations Clause (Operator Residency Requirements) (Municipal) Check out this clause...

July 09, 2024

Are Conservation Easements Abusive Transactions? Learn more!

The IRS identifies charitable contributions of conservation easements as potentially abusive transactions. Often encouraged by promoters and armed with questionable appraisals, IRS asserts that contributions of conservation easements can result in inappropriately large deductions, and in some cases, taxpayers claiming deductions when they are not entitled to any at all. Read now » Related Content Commercial...

July 02, 2024

Emergency Procedure: After District Court Loss, FTC Still Blocks Merging Hospitals

Court action related to a recently abandoned hospital merger deal sought by Novant Health/Lake Norman and Davis Hospitals demonstrates the current FTC’s hostility to concentration-increasing mergers and the “failing firm” defense as spelled out in its revised 2023 Merger Guidelines. Time will tell if the parties’ prediction of the end of the two targeted hospitals absent the merger will become...

July 02, 2024

No Recognition for You in Chapter 15!

You represent several international corporations that are considering filing insolvency proceedings in foreign jurisdictions. As a result, you need to explore filing cases under Chapter 15. Check out this expertly-drafted article discussing a recent bankruptcy court decision on a foreign debtor's center of main interests for purposes of recognizing a foreign bankruptcy proceeding in Chapter 15. Read now »...

July 02, 2024

Settlement Summer

While judges are away, attorneys will play? If only. Clear your personal docket this summer with Jim Wagstaffe’s settlement tactics and fundamentals at the link below. Read now » Related Content Settlement Agreement Drafting Fundamentals Video Watch our video on drafting settlement agreements when your eyes need a break from heavy text. Maybe not as fun as a TikTok dive, but definitely more informative...

July 02, 2024

State Law Comparison Tool: Blue Sky Requirements for Regulation D Rule 506 Securities Offerings

Companies engaging in a Regulation D Rule 506 offering are required to file notice with the securities regulatory agency of each relevant state. Although the states accept Form D for this purpose, there are differences among them in the amount of fees due, deadlines to complete the offering, and more. Use the State Law Comparison Tool to look up state requirements applicable to your client’s upcoming offering and...

July 02, 2024

Construction Law Case Tracker (Q2 2024)

Each quarter, we collect and summarize relevant cases affecting construction practice in a case law tracker. The case summaries are excerpted from the Construction Law Digest , a monthly service that complements Construction Law . Check out the cases for the second quarter of 2024. Read now » Related Content Construction Statute of Limitations and Statute of Repose State Laws Survey Use this state law survey...

July 02, 2024

Who Can Sign the Contract?

Learn about issues related to the execution of commercial contracts, including who has authority to sign a contract on behalf of various types of business entities, the use of a power of attorney, and how to prevent oral modifications. Read now » Related Content Enforceable Contract Signature Requirements Read about signature requirements for an enforceable contract, including contracts governed by the statute...

July 02, 2024

U.S. States Collaborate to Harmonize AI Regulations with EU Standards

In the absence of federal rules for artificial intelligence (AI), U.S. states are stepping in to fill the void, much as they did with data breach and consumer privacy regulation. Once again, state lawmakers are turning to the EU for guidance, and EU officials say they are happy to help. Read now » Related Content Generative Artificial Intelligence (AI) Resource Kit Find current guidance on generative AI...

July 02, 2024

Try and Find Me: How Do You Locate a Missing Participant?

Plan sponsors, administrators, and even qualified termination administrators may need to locate missing participants or beneficiaries. It may be time for the required minimum distribution to begin or pay a designated beneficiary. The employee may have terminated decades ago. Even correction of a plan failure under the Employee Plans Compliance Resolution System may require payment of additional benefits to terminated...

July 02, 2024

Anti-Hoarding Provisions: What’s Trending?

Anti-hoarding provisions limit a borrower’s ability to stockpile cash under its revolving line of credit to shore up liquidity in the event of an economic downturn in the oil and gas market. While the use of these provisions has declined in recent years, inflation, fears of a recession, international instability, domestic labor shortages, and persistent supply chain challenges make it difficult to predict the trajectory...

July 02, 2024

Financial Services Litigation in International Jurisdictions

LexisNexis® offers the highly regarded Lexology Panoramic international guides for practitioners. Review questions and answers from leading law firms on topics ranging from frequent causes of action brought against banks and other financial services providers to specific procedural rules that apply to financial services litigation in each jurisdiction. With key coverage, this guide provides links to international...

July 02, 2024

Unlocking our Health Information: An Overview of De-Identification under HIPAA

Review this practice note from Akerman LLP partners Elizabeth F. Hodge and Jordan T. Cohen to understand how healthcare organizations leverage the value of the individually identifiable health data in their possession for various purposes (e.g., to improve patient outcomes, develop new treatments, study disease patterns, and train artificial or augmented intelligence algorithms) through deidentification, which makes the...

July 02, 2024

All the Mushrooms in my Brain, Trippin’ on Insurance Claims

Discover how states are slowly embracing psychedelic drugs. It’s the new frontier. Read now » Related Content Understanding the Cannabis Industry and Its Insurance Market Learn about the unique business aspects, developing legal landscape, and risks specific to the cannabis industry. Medical and Recreational Marijuana State and Local Law Survey Do a deep dive into the basic provisions of state...

July 02, 2024

The Injury Requirement in ITC Section 337 Investigations

Check out this practice note for guidance on the International Trade Commission’s (ITC) "injury" requirement, an element of proof required for Section 337 ITC investigations of unfair acts concerning non-statutory causes of action, such as misappropriation of a trade secret, trademark dilution, trade dress, breach of contract, or false advertising. Read now » Related Content ITC Section 337...

July 02, 2024

The Keystone to Your Handbook: Add the PA Handbook Supplement to Your L&E Toolkit

Need employment policies that are specific to Pennsylvania, Philadelphia, and Pittsburgh employers? Use this one-of-a-kind fully annotated Employee Handbook Supplement (PA) when developing or revising handbooks for Pennsylvania, Philadelphia, and Pittsburgh employers. Read now » Related Content Employee Handbook Resource Kit Explore vital guidance in this resource kit to help employers understand drafting...

July 02, 2024

FDA Debarment Diligence for a Drug or Biologic Checklist

Determine whether a corporation, partnership, association, or individual pursuing a drug product application or holding an approved drug product application has violated the FDA Debarment Act, potential penalties, and certification requirements. Read now » Related Content Life Sciences Regulatory Enforcement Resource Kit Locate content and tools addressing regulatory enforcement challenges faced by pharmaceutical...

July 02, 2024

New Professional Development Toolkit: A Must-Have Guide for Junior Lawyers

Successful career development as a lawyer requires much more than mere knowledge of the law. Junior lawyers focus significant time on honing their writing, research, lawyering, and other “hard” skills, though any partner or senior lawyer will tell you that soft skills can be equally important. Building and maintaining partner and client relationships, understanding the business of law firms and legal practice...

July 02, 2024

Supreme Court Scrutinizes Impact Fees for Real Estate Developments

Many local governments charge development impact fees, which are typically used to fund local infrastructure. However, the U.S. Supreme Court’s recent Sheetz v. County of El Dorado decision, clarifying that the Takings Clause applies to municipal development impact fees, will likely cause cities and counties across the country to reevaluate their impact fee program to ensure compliance. Read this article for additional...

July 02, 2024

I Don’t Have the Answer. Asking the IRS for a Private Letter Ruling

Getting answers from the IRS can involve the Private Letter Ruling (PLR) process of submitting a detailed request to the IRS. It must include a complete statement of all facts relating to the transaction, a statement of the business reasons for the transaction, and a detailed description of the transaction in question. Treas. Reg. § 601.201(a)(2) . PLRs are sometimes referred to as "letter rulings,"...

June 25, 2024

Good news for Insurers; Supreme Court Weighs in on Standing in Bankruptcy

Recently, the Supreme Court held that insurers that have financial responsibility for bankruptcy claims are parties in interest with standing to object to a Chapter 11 plan. Be sure to read our client alert about this case. Read now » Related Content Mass-Tort Bankruptcies Read this discussion of companies that file bankruptcy to address their mass-tort liabilities. Channeling Injunction Checklist...

June 25, 2024

Civ Pro Fundamentals for a Worry-Free Summer

Don’t have time to research it yourself? Not even sure if you’re asking the right question? Having an existential crisis post-Summer Solstice? Fundamentals Resource Kits are here to help you find exactly what you need. Each resource kit contains links to all our relevant practice notes, templates, and checklists on your topic in your jurisdiction. Check out the Civil Litigation Fundamentals Resource Kit (Federal...

June 25, 2024

Compensation Committee Resource Kit

Matters of executive compensation, equity incentive plan and grant approvals, and drafting Compensation Discussion & Analysis disclosures in SEC filings are three typical functions of a public company’s compensation committee. Stock exchanges generally require that listed companies have a compensation committee composed of independent directors and that the committee performs a self-evaluation at least annually...

June 25, 2024

How Do you Want to Resolve the Dispute?

Gain an appreciation of various procedural and substantive alternative dispute resolution options that may be available when drafting commercial contracts, such as multi-tiered, hybrid, and carve out provisions. Read now » Related Content Arbitration Clause Drafting Read about arbitration and issues to take into consideration when drafting an arbitration clause. Alternative Dispute Resolution Clause...