The Supreme Court has now resolved a nearly 20-year legal battle between Lucky Brand Dungarees and Marcel Fashions Group over their respective trademarks. The ruling is important to trademark owners because it reinforces how changes in trademark use over time and the likelihood of confusion between Continue Reading
SBA Issues Guidance on Good Faith Necessity Certification Safe Harbor, Limits PPP Funds to $20 Million for Corporate Groups
The SBA has provided a good faith necessity certification safe harbor for certain PPP borrowers with loans less than $2 million and also has limited PPP funds to $20 million for corporate groups. Good Faith Necessity Certification Safe Harbor As borrowers grapple with whether to return their Continue Reading
Pennsylvania Supreme Court Decision Can Assist Policyholders in Their Insurance Coverage Claims for COVID-19 Losses
The Pennsylvania Supreme Court recently issued an Opinion that, although unrelated to insurance, provides helpful language to which policyholders and their counsel likely will cite in support of arguments for insurance covering business interruption losses related to the pandemic. In Friends of Continue Reading
SBA and Treasury Department Sued Over PPP Loan Guidance on the Good Faith Necessity Certification
On May 4, 2020, three California-based technology firms—Zumasys Inc. and two of its subsidiaries (the “Tech Companies”)—filed suit in California federal court to block recent Small Business Administration (“SBA”) guidance in the form of Frequently Asked Questions (“FAQs”), which were issued after Continue Reading
THE INVENTINATOR: May AI “Inventors” Get Patents?
For decades, authors and filmmakers have contemplated the challenges and opportunities presented when machines take on humanlike capabilities. In 1984, James Cameron sent us the Terminator, a cyborg created by SkyNet, an artificial intelligence (AI) system that became self-aware and sent its Continue Reading
New Guidance on PPP Lending
On May 5, 2020, the Small Business Administration (“SBA”) issued a new set of frequently asked questions (“FAQs”) concerning Paycheck Protection Program (“PPP”) loans. The new FAQs add guidance regarding the good faith necessity certification, loan forgiveness and eligible borrowers, among other Continue Reading
Congratulations, You Got Your PPP Funds! Now What?
The federal government has committed $670 billion dollars in forgivable loans to small businesses under the Paycheck Protection Program (“PPP”), which was part of the Coronavirus Aid, Relief, and Economic Stability Act (the “CARES Act”). Under the PPP, eligible small businesses have been able to Continue Reading
Court of Chancery Delineates Pleading Standards for Implied Covenant and Tortious Interference Claims in Buyout Transaction
The Court of Chancery has further clarified the parameters of a claim for breach of the implied covenant of good faith and fair dealing in In re CVR Refining, LP Unitholder Litigation, which denied the defendants’ motion to dismiss the plaintiffs’ claims for breach of the implied covenant as well as Continue Reading
Court of Chancery Confirms Treatment of Certain Pre-Suit Correspondence as a Derivative Litigation Demand
“Delaware’s common law of corporations makes it clear that when a stockholder makes a demand upon the company board to take legal action, she is conceding that the directors are able to bring their business judgment to bear to consider that demand.” In Mancine Dahle, et al. v. John C. Pope, et al., Continue Reading
Go and Breach No More: Court of Chancery Addresses Specific Performance
In Alliance Compressors LLC v. Lennox Indus. Inc., the Court of Chancery held that monetary damages and declaratory relief would be sufficient to remedy the alleged harm in question. In this case, plaintiff Alliance Compressors LLC (“Alliance” or “Plaintiff”) was formed by large air conditioner Continue Reading