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Regulated Investment Company Modernization Act Of 2010 Passed
On December 22, 2010, President Obama signed into law the Regulated Investment Company Modernization Act of 2010 (the "Act"). The Act updates certain tax rules applicable to regulated investment companies ("RICs"), including open-end mutual funds and closed-end funds. Unless...
Read MoreCalifornia Court Rejects The Enforceability Of A Delaware Forum Selection Clause In Corporate Bylaws
In a matter of first impression, the United States Federal District Court for the Northern District of California recently denied motions to dismiss a derivative action for improper venue, finding the forum selection clause in the corporate bylaws of a Delaware corporation to be unenforceable....
Read MoreCalifornia Requires Solicitors Of State Retirement Systems To Register As Lobbyists: Implications For Investment Managers
As of January 1, 2011, the California Political Reform Act (the "CPRA") requires "placement agents" soliciting business for "external managers" from the state's public retirement systems - currently the California Public Employees' Retirement System ("CalPERS") and the California State Teachers'...
Read MoreNew Corporate Sentencing Guidelines Provide Guidance Regarding What Constitutes An Effective Corporate Compliance Program
On November 1, 2010, amendments to the U.S. Sentencing Guidelines went into effect, amending the sentencing guidelines for corporate organizations. These amendments alter the eligibility for, and provide further guidance on the type of remedial efforts necessary to receive, credit for an effective...
Read MoreEn Banc Federal Circuit Decision Clarifies Permissible Conduct By Patent Pools And Other Joint Ventures Under The Patent Misuse Doctrine
In Princo Corp. v. International Trade Commission ,1the en banc U.S. Court of Appeals for the Federal Circuit addressed whether certain licensing practices related to a patent pool involving optical disc-related patents constituted patent misuse. The decision provides guidance for patent holders...
Read MoreIn The Wake Of Bilski, U.S. Patent Office Issues Guidelines For Determining Whether Method Claims Recite Eligible Subject Matter
The United States Patent and Trademark Office (PTO) published Interim Guidance on July 27, 2010, for evaluating method claims for subject-matter eligibility under § 101 of the Patent Act.1 The guidance follows this year's long-awaited Supreme Court decision in Bilski v. Kappos .2The Court held...
Read MoreFederal Circuit Ignites Interest In False Patent Marking Lawsuits
A specific category of patent lawsuit has occupied federal courts this year: approximately 15 percent of all patent cases have been "false marking" cases.1These cases allege that a company has marked a product with a patent that has expired, is invalid, or does not cover the product. The...
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