By Eugene G. Bernardo II or David M. DiSegna The IRS has released a Private Letter Ruling that approves a simplified method of calculating the remaining economic life of property financed with exempt facility bonds. Section 142 of the Internal Revenue Code (the “Code”) defines exempt facility bonds (which are tax-exempt under the Code) as bonds that...

By Alicia J. Samolis, Michael A. Gamboli and Christopher M. Wildenhain A year ago, the United States Supreme Court issued its seminal decision in Epic Systems v. Lewis, which confirmed that employers may use mandatory individual arbitration agreements without fear of the National Labor Relations Act (see our prior client alert for more details). In Epic’s wake, some employers,...

On May 2, 2019, the U.S. Patent and Trademark Office (USPTO) issued new guidelines as to how the agency will handle trademark applications for marijuana-related, hemp-related and CBD-related goods and services, in light of the federal Farm Bill that became law on December 20, 2018. Unfortunately, the new Guidelines raise as many questions for applicants...

On May 2, 2019, the U.S. Patent and Trademark Office (USPTO) issued new guidelines as to how the agency will handle trademark applications for marijuana-related, hemp-related and CBD-related goods and services, in light of the federal Farm Bill that became law on December 20, 2018. Unfortunately, the new Guidelines raise as many questions for applicants...

We routinely recommend to clients that they develop a written information security program (“WISP”), to safeguard sensitive information on a day-to-day basis. In fact, businesses (wherever located) that collect, store or use personal information about a Massachusetts or Rhode Island resident are required legally to develop and maintain a WISP. For purposes of these legal requirements, personal...

The Illinois Biometric Information Privacy Act (BIPA) was the first state statute to restrict when and how entities can collect, purchase and obtain biometric identifiers (e.g., fingerprints, voiceprints and retinal scans). BIPA requires private entities to: 1. inform individuals that their biometric information is being collected or stored; 2. notify the individuals in writing of...

Overview One of the major impediments to the growth of the legal cannabis industry in the United States is the inability of cannabis businesses to obtain banking services. Under current law, most banks and credit unions refuse to provide services to cannabis related businesses and their owners, employees or service providers (the “Cannabis Industry”) for...

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