News & Analysis as of

Foreign Corporations

Saudi Council of Ministers Approves 100% Foreign Ownership of Engineering Consultancies

by Jones Day on

Currently, Saudi Arabian law permits foreign direct investment in engineering consultancies operating in the private sector only through a professional company licensed by the Ministry of Commerce and Industry ("MOCI")....more

Controlled Foreign Corporation: Neither A Lender, Guarantor, Nor Pledgor Be?

by Farrell Fritz, P.C. on

Last week, we considered the U.S. taxation of a closely held foreign corporation that owned a minority interest in a partnership that was engaged in business in the U.S. This week, we turn our sights to the U.S. taxation of a...more

Intellectual Property Bulletin - Summer 2017

by Fenwick & West LLP on

Reducing Cybersecurity Risks to Autonomous Vehicles - The Department of Transportation is revising autonomous vehicle guidelines it issued in September 2016. Recent comments by Secretary Elaine Chao suggest that the new...more

Recent U.S. Tax Court Case Reverses Long Held IRS Position Regarding Taxation of Sales of Partnership Interests by Foreign...

by Locke Lord LLP on

Following the inauguration of the new administration in January 2017, many investors were anticipating the passage of a transformative tax reform bill at some point in 2017. Although legislative tax reform is seemingly...more

Grecian: Tax Court Rejects IRS Ruling - Five Things You Need to Know

On July 13, 2017, in Grecian Magnesite Mining, Industrial and Shipping Co. SA v. Commissioner (149 T.C. No. 3 (2017), the U.S. Tax Court concluded that gain recognized by a foreign corporation upon redemption of its interest...more

Bienvenidos a Colombia: A Friendly Market for Foreign Reinsurers

by Zelle LLP on

By comparison to other jurisdictions, international reinsurers have easy access to the Colombian market. While the access to underwriting risks is not as limiting, it is not boundless. Colombia has delineated requirements...more

Grecian Magnesite: Tax Court Finds Reliance on a US Tax Advisor Establishes Reasonable Cause

On July 13, 2017, the Tax Court, in Grecian Magnesite, Industrial & Shipping Co., SA v. Commissioner, 149 T.C. 3 (2017), rejected Internal Revenue Service (IRS) arguments that, in order to establish good faith reliance, the...more

Corporate Inversions

by Kelley Drye & Warren LLP on

A multinational corporate group headed by a U.S. parent corporation is often at a competitive disadvantage compared to a multinational corporate group headed by a foreign corporation. While a multinational corporate group...more

Good News for Taxpayers: IRS Targets for Reform Burdensome Regulations on Partnerships, Corporations, REITs, Estates, and More

Earlier this year, President Trump issued Executive Order 13789, which ordered the Treasury Department to review all significant tax regulations issued after December 31, 2015 and identify regulations that impose an undue...more

IRS Regulations on the Chopping Block

by Charles (Chuck) Rubin on

Tax practitioners have complained for years about the ever-expanding scope and complexity of both the Internal Revenue Code and Treasury Regulations. A possible shrinkage in the Treasury Regulations may soon occur....more

IRS Identifies 8 Burdensome Regulations for Reform

Responding to a Trump Executive Order, the Treasury Department has reviewed all significant tax regulations issued after December 31, 2015 and identified eight regulations to be reformed to mitigate the burden that the...more

Treasury Dept. Identifies 8 "Significant Tax Regulations" for Review to Reduce Burden

by Holland & Knight LLP on

The U.S. Department of the Treasury announced on July 7, 2017, in Notice 2017-38 (the Notice) that it has identified as "significant tax regulations" eight sets of U.S. federal tax regulations that were issued between Jan. 1,...more

Foreign-based Companies Considering a U.S. Chapter 11: What You Need To Know

by Hogan Lovells on

Hogan Lovells partners Chris Donoho and Ron Silverman spoke to DebtWire Radio about current issues concerning cross-border restructurings. They addressed the factors that prompt foreign-based companies to avail themselves of...more

Foreign Investment Reporting to the United States: In-Bound Investment into the United States Specific Survey Report Forms New...

by McNair Law Firm, P.A. on

The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts seven (7) mandatory surveys to collect information on direct investment. These seven surveys consist of an initial survey for any new in-bound...more

UK Criminal Finances Act 2017: A Dechert "Dirty Money" Trilogy

by Dechert LLP on

Part One: "A Fistful of Tax Dollars" - A New Corporate Offence of Failure to Prevent the Facilitation of Tax Evasion.. The Criminal Finances Act 2017 represents a further significant development in the approach to the...more

TC Heartland: The End of an Era in Patent Litigation

by Dorsey & Whitney LLP on

On Monday, May 22, the Supreme Court reached a unanimous decision in TC Heartland LLC v. Kraft Foods Group Brands LLC, overruling the Federal Circuit’s interpretation of the patent venue statute, 28 U.S.C. § 1400(b), and...more

Can Pseudo-Foreign Corporations Exonerate Their Directors?

by Allen Matkins on

Corporations Code Section 2115 is not an easy read. Fortunately, California Supreme Court Chief Justice Tani Cantil-Sakauye has provided a more digestible overview of the statute...more

Back to the Future: Supreme Court Narrows Patent Venue in TC Heartland Case and Returns Dispute to State of Incorporation or Where...

by Williams Mullen on

The Supreme Court on Monday substantially narrowed the district court venues available to patent owners seeking to sue for infringement. In TC Heartland LLC v. Kraft Foods Group Brands LLC, 581 U.S. ___ (2017), the Supreme...more

There’s No Place Like Home

by Strasburger & Price, LLP on

Analysis of the 2 Prongs of the Patent Venue Statute for Domestic Corporations after the May 22, 2017 TC Heartland U.S. Supreme Court Decision. First Prong of 28 USC 1400(b) – “[a]ny civil action for patent infringement...more

Supreme Court Decision Limits Venue Statute in Patent Litigation

by Lathrop Gage on

On May 22, 2017, in a highly-anticipated decision that could dramatically alter the landscape of patent litigation, the United States Supreme Court held that the “resides” prong of the patent venue statute, 28 U.S.C....more

The Supreme Court Narrows Forum Shopping in Patent Infringement Cases Against Domestic Companies in TC Heartland v. Kraft Food...

On May 22, 2017, the US Supreme Court unanimously rejected prior case law allowing patent holders to rely on the general venue statute, 28 U.S.C. § 1391(c), to file suit where a domestic defendant makes sales. TC Heartland,...more

SCOTUS Messed with Texas: Supreme Court Limits Venue in Patent Cases

by Bryan Cave on

Yesterday, the U.S. Supreme Court re-defined the scope of venue in patent cases in TC Heartland LLC v. Kraft Foods Group Brands LLC, 581 U.S. ___ (2017). Under the Supreme Court’s ruling, venue in patent cases will now be...more

BREAKING: High Court Limits Where Patent Suits Can Be Filed

by Miller Canfield on

The U.S. Supreme Court just shook up the patent world with its decision in TC Heartland LLC v. Kraft Foods Group Brands LLC. For nearly 30 years, companies accused of patent infringement could be sued in nearly any place they...more

U.S. Supreme Court Halts Forum Shopping In Patent Infringement Cases

On May 22, the U.S. Supreme Court issued an important and long-awaited Opinion in TC Heartland LLC v. Kraft Foods Group Brands LLC, a case that centered on where a patent infringement suit can be filed. In a resounding 8-0...more

Supreme Court Changes the Landscape of Patent Litigation

by Benesch on

For decades, accused infringers have been hailed into venues across the country where they have little or no presence. The rationale applied for justifying venue in such cases has been that the term “resides” as used in the...more

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