Third-Party Relationships

News & Analysis as of

SEC Approves NASDAQ’s Proposed Rule on Golden Leash Arrangements

On July 1, 2016, the SEC approved NASDAQ’s proposed Rule 5250(b)(3), as amended by Amendment No. 2 filed on June 30, 2016 (the “Final Rule”), requiring NASDAQ-listed companies to publicly disclose third-party compensation...more

En Banc: Federal Circuit Provides Guidance on Application of On-Sale Bar to Contract Manufacturers

Pharmaceutical and biotech companies breathed a sigh of relief Monday when the Federal Circuit unanimously ruled in a precedential opinion that the mere sale of manufacturing services to create embodiments of a patented...more

Federal Circuit Finds That Use of a Contract Manufacturer Does Not Trigger the On-Sale Bar Provision

The court’s decision provides insight into which activities trigger the on-sale bar provision. On July 11, in The Medicines Co. v. Hospira, Inc., No. 14-1469 (Fed. Cir. July 11, 2016), the U.S. Court of Appeals for the...more

Federal Circuit Limits On-Sale Bar’s Reach

If you were concerned that outsourcing the manufacture of your invention before you filed your patent application triggered a "sale" that could put your patent at risk, you can rest easy. In The Medicines Company v....more

Flip Transactions: Taking your Startup from Europe to the U.S.

Considering moving your startup from Europe to the United States? A “flip” into a U.S. corporate legal structure may be best for the long-term growth of your business. Foreign technology startups seek to reorganize in the...more

M&A Update: New York Court of Appeals Rejects Extension of Common Interest Privilege to Merger Talks

On June 9, 2016, a divided New York Court of Appeals in a much-anticipated ruling held that the attorney-client privilege can only be maintained for communications involving third parties in situations where litigation is...more

Third Party Risk Management: Balancing Due Diligence Screening and Monitoring

In response to aggressive FCPA enforcement and recurring problems with third parties, companies have spent substantial resources and time to design and implement comprehensive ethics and compliance programs. A key part of...more

FTC Staff Tackle FCC Privacy Rules in Public Comment

As the Federal Communications Commission sifts through over 50,000 comments received in response to its proposed broadband privacy rules, the Federal Trade Commission’s comments are likely to stand as a highlight. In a...more

The How Question in Due Diligence

What is satisfactory due diligence under the Foreign Corrupt Practices Act (FCPA)? That question seems to be more important after the Huffington Post’s story on Unaoil and the subsequent release of the Panama Papers. However,...more

The Evolving Due Diligence Standards and Beneficial Ownership

In case you are not following all the latest scandals – Unaoil and the Panama Papers being two significant ones – we are seeing an evolution and possibly a revolution in due diligence expectations....more

The OCC’s Request for Comments and Discussion on the Future of Fintech Regulation

U.S.-based digital banking startups have raised more than $10 billion since 2010, and investment in financial technology (“fintech”) companies has surpassed $24 billion worldwide. These firms are attempting to disrupt the...more

New Amendments to Florida’s Proceedings Supplementary Statute Provide Clarity and Guidance for Judgment Creditors

Chapter 56 of the Florida Statutes provides the framework for judgment creditors to collect on money judgments. Section 56.29 governs the process by which a judgment creditor may seek to recover property transferred to, or...more

Contract Assignment in M&A Transactions

Given the pace of M&A transactions and the abundance of issues to be negotiated, there is a danger that transferability of third-party contracts (i.e., the need for consent and obtaining the same) can be lost in the shuffle....more

NASDAQ Resubmits Proposed Rule on Golden Leash Arrangements

On March 15, 2016, the NASDAQ Stock Market LLC resubmitted its proposed rule requiring NASDAQ-listed companies to publicly disclose third-party compensation arrangements for board members and board nominees, commonly referred...more

Delaware Court Approves Litigation Funding Agreement

The Delaware Superior Court issued a recent decision providing the following guidance to parties regarding how to properly structure litigation finance agreements in order to avoid claims of champerty and maintenance: (i) the...more

First Circuit Affirms Dismissal of Lawsuit Against Backpage.com, Confirms Broad Scope of Section 230 Immunity

The U.S. Court of Appeals for the First Circuit this week delivered a resounding victory for websites dependent on a federal immunity from claims based on content posted by third parties. Broadly interpreting Section 230 of...more

It’s about relationships and patience: A Success Story

I always talk about my open door policy with financial advisors and third party advisors where I will help these plan providers out without me actively seeking their business. I kind of have that liberty because it’s my own...more

Are Consultant’s Employees Functionally Equivalent To Client’s Employees?

As a general matter, the attorney-client privilege is waived by disclosing a communication to a third party. When a corporation hires an investment banker, the corporation’s attorneys will frequently communicate with...more

Data Analytics Week – Part IV: Third Parties and Duplicate Invoices

I continue my exploration of the use of data analytics in a best practices compliance program. Today we look at how data analytics can be used to help detect or prevent bribery and corruption where the primary sales force...more

To Litigate or not to Litigate: Practical Considerations for Every Business

It should come as no surprise that business is booming in Silicon Valley, although with the growing number of businesses comes increased potential for conflict and litigation. Know that litigation is serious business. ...more

"Mass Tort and Consumer Class Action Outlook: Opportunities and Challenges"

In 2016, the U.S. Supreme Court is expected to hand down several decisions addressing overbroad or “no-injury” class actions, and a number of important issues are percolating in the lower courts as well. Below are some issues...more

Florida State Court Holds Pizzerias Liable Under TCPA for Third-Party Fax Blasts

Based on the Eleventh Circuit's 2015 decision in Sarris v. Palm Beach Golf Ctr. Boca, Inc, a Florida state appellate court has held that using a third-party company to send unauthorized fax ads will not protect the company...more

Common FCPA Issues

As our previous posts illustrate, violations of the Foreign Corrupt Practices Act (“FCPA”) can carry a hefty cost. Two issues are commonly the impetus for FCPA violations and, practically speaking, pose significant FCPA...more

Five Considerations Before Selling a Vineyard or Winery

Whether to sell a vineyard or winery is one of the most significant decisions an owner will make. There are financial, career, lifestyle, and other factors that go into the choice, and the calculation is different for each...more

Due Diligence and Risk Priorities (Part III of IV)

Believe it or not, life principles can be used in compliance, especially in due diligence. I always tell my kids that life has a way of setting priorities. As you get older, life becomes simpler and your priorities become...more

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