Jim Coles to Present at Developertown on World IP Day

Densborn Blachly attorney Jim Coles will present “Intellectual Property and Other Legal Issues for the Digital Technology Venture” on Friday, April 22. The program is being presented as part of Centric’s World IP Day event at Developertown, in Indianapolis.

Coles is Of Counsel at Densborn Blachly, where he is a member of the Intellectual Property group. His principal practice areas include Patent Law, Copyright Law, Trademark Law, Technology Transactions and IP Agreements. He is licensed to practice law in the state of Indiana and before the United States Patent and Trademark Office.

Indiana Benefit Corporations

In recent years, consumers and investors have demonstrated an increased preference for socially conscious companies. The natural outgrowth of this trend has been the rise of socially conscious companies like Tom’s, a shoe company that donates one pair of shoes to those in need for each pair it sells. On January 1, 2016, Indiana entered the fray as the 30th state to enact a benefit corporation statute. Benefit corporations are for-profit corporations formed with the additional purpose of providing a general public benefit. Under the statute, a general public benefit is a benefit creating “material positive impact on society and the environment,” as a whole, through a corporation’s operations.[1] This ambiguous language provides flexibility to benefit corporations that have a variety of benefit interests.

Dave Millard (1955-2015)

“The Indiana entrepreneurial class has lost one of its greatest champions.  Dave Millard touched all.  I recall when he first became a lawyer.  He was a small business wunderkind.  He focused like a laser on the peculiar legal needs of struggling upstarts.  When the tech revolution hit Indiana in the ‘90s, he led it.  He taught us that the success of Indiana business depended on its professional class joining ranks and moving up toward the front.  He took us there like a field marshal would.  He encouraged.  He prodded.  He helped.  When necessary, he put it over the goal-line himself — but not just for himself.

 

“I do not know when the man slept, but, deservedly, he sleeps now.  May he rest in peace.  It is left to us to fill the ranks and soldier on — not just for ourselves.”

 

SEC Adopts Rules to Permit Crowdfunding

The SEC adopted final rules, effective April 27, 2016, known as “Regulation Crowdfunding”, which greatly liberalize the manner by which companies privately raise money in small increments from a large number of investors, using the Internet. Regulation Crowdfunding also creates a regulatory framework for the intermediaries — broker-dealers and funding portals –which will facilitate the online transactions.

Regulation A+ Establishes Capital Raising Alternative

The SEC recently adopted final rules amending Regulation A to permit eligible private (i.e., non-SEC-reporting) companies to conduct public securities offerings of up to $50 million in a 12-month period without Securities Act registration. The amendment, known as “Regulation A+”, was mandated by the Jumpstart Our Business Startups Act (the “JOBS Act”) and takes effect on June 19, 2015. Its aim is to promote small company capital formation by increasing the maximum amount which may be raised under Regulation A (from $5 million to $50 million), and by streamlining reporting and disclosure requirements.

NLRB Pulls a "Quick One" on Employers

In December 2014, the National Labor Relations Board (“NLRB”) issued what many call the “Quickie Election” Rule or “Ambush Election” Rule. In short, this new rule will decrease the period of time between a union election petition and the election itself from around forty-two (42) days to as few as fourteen (14) days. The rule is set to take effect today (April 14, 2015).