Patterson Belknap Webb & Tyler LLP

U.S. and non-U.S. issuers of specified securities are subject to new U.S. tax basis reporting obligations under Section 6045B of the U.S. Internal Revenue Code of 1986, as amended (Code), which was enacted as part of the…more

Last month, in Hosanna-Tabor Evangelical Lutheran Church and School v. EEOC, the U.S. Supreme Court recognized a "ministerial exception" to employment discrimination laws, in what is likely to be a seminal case for…more

Last Thursday, the FDA issued the first set of long-awaited draft guidelines for the regulatory approval of follow-on biologic drug products, or "biosimilars," under the Biologics Price Competition and Innovation…more

Lawyers crave structure. Give them a cause of action that has several well defined elements and you can keep them occupied for days on end, arguing about each prong. If you number the elements so they can converse in code, so…more

In connection with its ongoing efforts to promote transparency and investor protection, the Staff of the U.S. Securities and Exchange Commission (SEC) recently issued a statement revising its policy regarding the non-public…more

If you confront the question whether a foreign book, movie, song, artistic work, or other work of authorship is still in copyright in the U.S. or whether such a foreign work is being infringed in the United States, take note of…more

The Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") significantly changed the law regarding required registration as an investment adviser pursuant to the provisions of the Investment Advisers Act of…more

Mazza v. American Honda Motor Company, Inc., No. 09-55376 (9th Cir. Jan. 12, 2012). The Ninth Circuit has vacated a lower court's decision certifying a nationwide class of drivers who allegedly purchased a special…more

We have received several inquires regarding H.R. 3531, a bill that was recently introduced in the U.S. House of Representatives to amend the Foreign Corrupt Practices Act ("FCPA") to permit private suits against certain foreign…more

New IRS Foreign Asset Disclosure Requirements The Internal Revenue Service (IRS) recently issued guidance relating to the new requirement for individuals to report ownership of "specified foreign financial assets." This…more

The U.S. Department of Labor ("DOL") has long been concerned about transparency regarding fees and expenses for participants in defined contribution retirement plans (e.g., 401(k) plans, 40 (b) plans, profit sharing plans, money…more

Originally published in the Tax Management Compensation Planning Journal, 39 CPJ 227, 11/04/2011. In July 2007, the Internal Revenue Service (IRS) issued final regulations (the ‘‘Final Regulations’’) under §403(b) of the…more

Originally published in Financier Worldwide Magazine, September 2011 Issue. As an international commercial and financial capital, New York law has traditionally been selected to govern commercial contracts and has served…more

We are writing to remind you that there may be a limited time period in which to take advantage of unique planning opportunities that arose on January 1, 2011, as well as to notify you of possible legislative changes. -…more

This Note highlights key intellectual property (IP) considerations in asset purchase transactions involving all or substantially all of the seller’s assets or a division or line of business. It discusses legal due diligence of…more