NEW SEC RULES ALLOW GENERAL SOLICITATION AND GENERAL ADVERTISING IN PRIVATE OFFERINGS UNDER RULE 506

The Securities and Exchange Commission on Wednesday, July 10, issued final rules lifting the longstanding prohibition of general solicitation and general advertising in private offerings of securities conducted in reliance on Rule 506 of Regulation D under the Securities Act of 1933. The new rules, … Read More »

TERM SHEETS: KEEPING YOUR NONBINDING DEAL POINTS FROM BECOMING “CONTRACTS TO NEGOTIATE AN AGREEMENT”

Date: May 29th, 2013

Term sheets serve several important functions in the early and intermediate stages of many business transactions. These documents—also called letters of intent and memoranda of understanding—enable parties to frame and negotiate the essential elements of a transaction, including determining if a meeting of the minds … Read More »

SICK LEAVE, POT LAWS LEAVE EMPLOYERS FEELING QUEASY

Date: May 6th, 2013
Categories: Employment Law

Has the city of Seattle gone too far with its current safe/sick time law? If you own a business anywhere outside of Seattle, but have employees who spend a fair amount of time within the city, you probably think the answer is yes. Seattle requires … Read More »

CITY OF SEATTLE’S PROPOSED CRIMINAL BACKGROUND ORDINANCE

Date: April 30th, 2013
Categories: Employment Law

At some point in our lives we’ve all filled out job applications that ask whether we’ve ever been convicted of a crime.  To most of us, it seems quite normal that an employer would want to know whether an applicant has a criminal conviction in … Read More »

SEATTLE’S NEW PAID LEAVE LAW HITS SEPTEMBER 1, 2012—IS YOUR BUSINESS READY?

Date: July 9th, 2012
Categories: Employment Law

Earlier this year Seattle became the third city in the country to require employers to provide paid sick leave and “safe” leave. Though the new law will exempt employers with less than 4 full-time employees and businesses less than 2 years old, it is sure … Read More »

SEC WILL MISS DEADLINE FOR LIFTING GENERAL SOLICITATION BAN

Date: June 29th, 2012

In a hearing before the House Oversight TARP and Financial Services Subcommittee, SEC Chairman Mary Schapiro confirmed it will miss the deadline for publishing rules to lift the ban on general solicitation and advertising for certain private placement offerings. Schapiro stated: “It’s a bit more … Read More »

NEW PRIVATE PLACEMENT RULES EXPECTED ON JULY 5, 2012

Date: June 27th, 2012

A few months ago my colleague Aaron Thomson published a piece about the new JOBS Act aimed at making it easier for private companies to raise capital. As Aaron explained, two key aspects of the new law are the crowdfunding exemption and the elimination of … Read More »

9TH CIRCUIT PROVIDES INVESTORS WITH “SHELTER” FROM SECONDARY LIABILITY

Date: June 26th, 2012

Copyright infringement: It’s become so commonplace you probably don’t even notice it anymore. At any given time, a good portion of your Facebook news feed may consist of infringing content; shared pictures, videos, music and books. In fact, there is a good chance you’re reading … Read More »

ARE THEY REALLY ACCREDITED INVESTORS?

Date: April 26th, 2012

If you’ve been involved as an issuer of securities in a private placement, you know the routine: Your lawyer has made sure that your form of stock purchase agreement, by which investors invest in your company in exchange for shares thereof, contains a number of … Read More »

JOBS ACT: BIG CHANGES MADE TO ALLOW SMALL INVESTMENTS

Date: April 17th, 2012

A very important and exciting piece of legislation just passed the House and Senate, and on April 5, 2012, received President Obama’s signature. The legislation is all about creating jobs for American workers by allowing businesses to raise capital through avenues currently prohibited or limited … Read More »