You’ve been waiting more than four years since Congress passed the JOBS Act to use equity crowdfunding to raise capital for your company. On May 16, 2016, the SEC’s final crowdfunding rules under the Securities Act of 1933 finally go into effect (“Regulation Crowdfunding”). You’re now ready to take advantage of the new rules and raise...
There has been a fair amount of buzz in the days after Prince’s death about his estate plan, whether he has a Will, whether he did or did not do any planning. Time will see this out. Prince’s heirs at law appear at this time to include his sister, Tyka Nelson, who filed a petition...
SAFE stands for “Simple Agreement for Future Equity” and is a creation of the ubiquitous start-up accelerator, Y Combinator. SAFEs look like convertible notes, but have some material differences that you should understand. How does a SAFE work? Much like a convertible note, a SAFE is an instrument that gives an investor a right to...
By Alicia J. Samolis As seen in the May 4, 2016 edition of Law 360. The final rule implementing Executive Order 13665 (the Pay Transparency Act) went into effect on Jan. 11, 2016. The act prohibits employers from requiring their employees to keep their compensation confidential. Under the new rule, covered employers also can no longer...
Client AlertsCorporate & BusinessOnline Contracts: We May Modify These Terms at Any Time, Right?
May 4, 2016
Every time you visit a website to read the news, use a social media account, or buy a pair of shoes, you are binding yourself to online contractual terms. Courts routinely uphold those terms when a website user is required to click an “I agree” button signifying assent to those terms, and often uphold them,...
On April 20, Partridge Snow & Hahn partner, Michael Gamboli, was quoted in a RI Lawyers Weekly article titled “Employer can’t enforce non-compete vs. doctor.” The article details a Superior Court Judge’s decision to not allow a health care provider to enforce a non-competition agreement with a physician who left to work elsewhere. Subscribers of the publication...
Did Led Zeppelin copy the opening of its iconic song “Stairway to Heaven” from a lesser-known band? A jury in California will decide in May whether the song copied elements of “Taurus,” a 1967 instrumental track from the band Spirit. Written in 1971, “Stairway to Heaven” is arguably the best known rock song of all...
Client AlertsPart II: Taking Investment Advice with a Grain of Salt: The DOL Fiduciary Rules May Help Your 401(k) Plan Participation
April 13, 2016
If you have a 401(k) plan and are trying to increase participation, you are aware of this frustrating trend: a participant comes to you when she turns 59.5 or is about to retire, and wants to withdraw everything and roll it into an IRA, on the recommendation of her investment adviser. By the time the paperwork hits...
Client AlertsPart I: Taking Investment Advice with a Grain of Salt: The DOL Fiduciary Rules May Make You Rethink that Rollover
April 13, 2016
You probably know when you can withdraw/rollover money from your 401(k) plan (generally when you leave employment, turn 59.5, or retire). But many folks don’t realize that in most cases, those withdrawals/rollovers are optional; you could leave your money in your 401(k) plan after retirement and use it just like you would an IRA. So the real question is, what should you do...
If you are a founder of an early stage company, the issue of raising money is likely top of mind and a material source of anxiety. My guess is that when you hatched your great idea and decided to launch your company, you knew that raising capital would be something you’d need to do, but...
