Monthly Archives: December 2015

Happy New Year!

With 2016 only a few hours away, here’s a look at changes to the Federal estate and gift tax exemptions for 2016.

  • The Federal Estate Tax Exemption amount will be $5.45 million per individual, an inflation-adjusted increase from $5.43 million in 2015.
  • The annual gift tax exclusion amount remains at $14,000, the same as in 2015.

The increase in the Federal Estate Tax Exemption means an individual can leave $5.45 million to her beneficiaries without Federal Estate Tax, or gift tax during her lifetime. In 2016, a married couple will be able to collectively transfer $10.9 million without Federal Estate Tax, or gift taxes during their lifetimes.

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Non-compete Distance Measured as The “Crow Flies”

A recent case out of Ohio offers an instructive lesson for those looking to probe the geographical limits of a non-compete agreement.  A dentist sold his dental practice and also continued to work as an employee there.  As part of the sale, he agreed not to compete for five years and was prohibited from working “within 30 miles” of the practice.  The relationship between the parties deteriorated and the dentist went to work for a competing firm.  The purchaser dentist filed suit claiming a breach of the non-compete. 

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Banking and Financing Adjust to New Economy 2015/12/30 16:12:23

In the Chinese mainland, the slowed economy has profoundly influenced banking and financing investments and the resolution of relevant disputes. On one hand, the speed of economic development decelerated from near 10 percent to 7 percent and the structure of the economy continues to undergo major government reforms. Accordingly, the driving factors of economic development were turning from resources, materials and investments to efficiency, green initiatives and innovation. On the other hand, through either trillions in stimulus packages, suspension of initial public offering (IPO) projects or other macro-control mechanisms, the government still plays a critical role in this new normal.

Considering these and other factors, banking and financing disputes reveal four fresh trends: complexity, expansion, quantification and crowded disputes. 

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Andrew D. Myers Judges Annual Yale Mock Trial Tournament

Davis Malm shareholder Andrew D. Myers served as a judge for the 20th Annual Yale Mock Trial Invitational Tournament on December 5-6. Forty-two teams from colleges and universities across the country joined together to compete in the four-round tournament.

Mr. Myers concentrates his practice on the representation of emerging businesses in corporate, finance, and securities matters, including mergers and acquisitions, public and private financings, venture capital transactions, and joint ventures. He also handles day-to-day legal matters, such as initial organization, licensing, supply and distribution arrangements, employment arrangements, equity incentive plans, trade secret protection, and Internet commerce agreements. 

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ILN Today Post

International Lawyers Network Welcomes New Firm in Malta, Acumum Legal & Advisory

(PRLEAP.COM) New York (December 21, 2015) – On Monday, the International Lawyers Network announced that they welcomed Acumum Legal & Advisory as a representative for Malta. Acumum is Malta’s Commonwealth set of advisory firms, providing legal, tax & accounting services.

Acumum’s senior management of lawyers, accountants & tax advisers, provide expert, trusted & cost efficient, bespoke services to an international clientele: individuals, family offices, corporations, Governments & other service providers. Believing in long term relationships, Acumum provides holistic, sustainable & practical solutions to clients, whilst being committed to a superb level of client service.

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Another Federal District Court Judge In Illinois Refuses To Apply The Illinois Appellate Court’s Fifield Decision

Readers of this blog know that long settled understandings regarding what constitutes adequate consideration for a restrictive covenant in Illinois were turned upside down when the First District Appellate Court in Illinois held in Fifield v. Premier Dealer Services Inc., 2013 IL App. (1st) 120327 that, absent other consideration, two years of employment are required for a restrictive covenant to be supported by adequate consideration, regardless of whether the covenant was signed at the outset of employment or after, and regardless of whether the employee quit or was fired.

The Illinois Supreme Court declined to hear Fifield, but at least three federal district court judges in Illinois have refused to apply Fifield

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Networking Hacks from Undergrads

photo-1418225162054-0f773a996f9eAlthough you may be expecting our final Two for Tuesdays post of the year to focus on content marketing, I’m actually going to take a surprising break from that today in favor of sharing with you a couple of networking tips instead (try not to fall over in shock).

This time of year is perfect for networking because we’re all thinking of fresh starts and how we can make new business development connections. And, of course, you’re all joining me for our January LinkedIn Challenge, right? 

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What Judith Grubner is Saying About the Next Big Thing in IP Law for 2016

ILN IP Insider is starting a new series – we’re featuring interviews with ILN IP lawyers, asking them questions on the state of IP Law in 2016. These will typically be one to two-question interviews with our practitioners from around the world. Our first interview is with Arnstein & Lehr lawyer, Judith Grubner:

What’s the next big thing on the horizon for intellectual property law in 2016?

In light of In Re Tam, where the Federal Circuit just struck down as unconstitutional the non-disparagement clause in Sec. 2(a) of the Lanham Act, the US Patent and Trademark Office may soon be forced to register brand names for medical marijuana strains, currently banned under Sec. 2(a) because as federally illegal substances, marks for such goods are immoral or scandalous.

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Amendments to the Federal law “On Execution procedure”

The Federal law No. 340-FZ “On amendments to the Federal law “On Execution procedure” and related legislative acts of the Russian Federation” embodies the new authority of bailiffs.

A bailiff may impose temporary restrictions on debtor’s special rights in case of debtor’s non-performance under execution writ.

Who may initiate the restrictions?

1.    Bailiff;
2.    Creditor.

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IP Court interpreted some aspects of data exclusivity

On December 17, 2015 the Intellectual Property Court (hereinafter – “the IP Court”) adopted the Ruling in case No. A40-188378/2014.

We have already highlighted the mentioned case in our recent alert, as long as we consider that it may become decisive for the industry. Actually some of the courts’ findings could impact such pharmaceutical aspects as data exclusivity, generic registration procedure, etc.

The said dispute arose between Swiss Novartis Pharma AG (producer of the original drug “Gilenia” for treatment of multiple sclerosis) and Russian Biointegrator LLC (producer of the generic “Nescler”) on alleged violation of data exclusivity. 

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