In holding that courts must exercise independent judgment when examining whether an agency acted within its statutory authority, the Supreme Court dealt yet another blow to the administrative state. Overruling Chevron U.S.A. Inc. v. Natural Resources Defense Council, the Court’s decision in Loper Bright Enterprises v. Raimondo promises to dramatically shift how courts approach executive […]

The Supreme Court held last Thursday that the U.S. Patent and Trademark Office did not violate the First Amendment when the Office concluded that “Trump Too Small” could not be registered as a trademark. In a unanimous decision, the Court found that the USPTO did not discriminate based on the viewpoint expressed by the phrase […]

In a decision throwing out the long-standing test for design patent obviousness, the Federal Circuit in LKQ Corp. v. GM Global Tech. Operations LLC, (Fed. Cir. 2024) (“LKQ”) determined that the Rosen-Durling test was “improperly rigid” and that requiring an earlier design to be “basically the same” as the patented design was too narrow.  The […]

In the intricate world of financial regulations, SEC Rule 15c3-3, often referred to as the "Customer Protection Rule," plays a crucial role in safeguarding customer assets held by broker-dealers. This rule, established by the Securities and Exchange Commission (SEC), ensures that customer funds and securities are adequately protected, preventing broker-dealers from using these assets for […]

Crypto enthusiasts cheered the surprise approval last week of spot ether exchange traded funds (ETFs) being prepared for listing on U.S. stock exchanges. It’s only the second time a cryptocurrency-backed group of ETFs has been approved by the Securities and Exchange Commission, a move some analysts say heralds crypto’s growing acceptance among the mainstream. But […]

Pursuant to the Corporate Transparency Act of 2021, U.S. companies are now required to disclose certain Beneficial Ownership Information (BOI).  While this law has been on the books for a few years now, the grace period is almost over. The Financial Crimes Enforcement Network (FinCEN) mandates that corporations and limited liability companies registered in the […]

In Warner Chappel Music, Inc. v. Nealy, the Supreme Court found that a timely filed claim for copyright infringement is not subject to an additional time limitation on monetary recovery. Rather, the Copyright Act entitles a “copyright owner possessing a timely claim for infringement…to damages, no matter when the infringement occurred.”  The court acting on […]

For startup founders and investors in startups alike, navigating the world of financing can be tricky. Two popular instruments used to raise early-stage capital are SAFEs (Simple Agreements for Future Equity) and convertible notes. How do they differ?  And in what circumstances may one be better than another?   This determination will vary depending on whether […]

In the dynamic world of fintech startups, securing funding efficiently can significantly impact growth. One financial instrument gaining popularity is the Simple Agreement for Future Equity (SAFE) note. SAFEs were introduced by Y Combinator in 2013 to simplify early-stage investments. This post explores their utility for fintech startups, the benefits they offer, key drafting considerations, […]

On April 23, 2024, the U.S. Federal Trade Commission (FTC) voted to ban noncompete clauses in employment contracts. This new rule will go into effect on September 4, 2024, 120 days after its publication in the Federal Register. While the language of the rule targets noncompete clauses specifically, other types of restrictive employment covenants may […]