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The Michigan Department of Treasury ("DT") issued on October 21, 2008 Revenue Administrative Bulletin 2008-4 ("RAB") to clarify the nexus standard to be applied in determining whether a taxpayer is subject to Michigan Business Tax ("MBT"). The RAB takes effect on January 1, 2008. More...
This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code ("IRC") as in effect for plan years beginning before 2008. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), the 24-month average segment rates, and the funding transitional segment rates under § 430(h)(2). More...
In Private Letter Ruling ("PLR") 200843004, the Internal Revenue Service ("IRS") determined that a publicly traded parent corporation may restructure its holdings to spin off one of its businesses in a series of tax-free transactions under sections 368(a)(1)(D) and 355 of the Internal Revenue Code ("IRC"). The IRS issued this non-precedential ruling on July 15, 2008. The background of this PLR stated as follows.
As indicated in this PLR, Parent is the common parent of an affiliated group of corporations that file a consolidated Federal income tax return. Parent owns all of the stock of Corp 1 and Corp 2. Corp 1 owns the sole membership interest in LLC 1, a disregarded entity. Corp 1 (through LLC 1) and Corp 2 each own d% of LLC 2, an entity treated as a partnership for Federal income tax purposes. Corp 2 owns the sole membership interest in LLC 3, a disregarded entity. Corp 1 (through LLC 1) owns c%, and Corp 3 owns f%, of LLC 4, an entity treated as a partnership for Federal income tax purposes. Corp 3 is unrelated to Parent. More...
Holding: The Naked Cowboy, whose real name is Robert Burck, and who sued candy-maker Mars, Inc. for $6 million for dressing an animated M&M in Burck’s signature outfit and broadcasting it on a video billboard, has decided to end his lawsuit for unspecified reasons. In papers filed in the U.S. District Court for the Southern District of New York, Burck and Mars, Inc. both agreed and stipulated that the action be dismissed with prejudice, with each party bearing his own costs and attorney's fees. Burck, a fixture in Manhattan's Times Square for more than 10 years, sued in February 2008, accusing Mars of copying his trademarked image. Burck said he holds a federal trademark for his likeness and occasionally licenses it to companies for ads. The parties resolved to terminate the case with a closed-door settlement. More...
The United States Patent and Trademark Office (‘‘USPTO’’) is amending the Trademark Rules of Practice to clarify certain requirements for applications, intent to use documents, amendments to classification, requests to divide, and Post Registration practice; to modernize the language of the rules; and to make other miscellaneous changes. For the… More...
Following are Resources Law Commentaries elaborating on the significance of the most important of the Resources Law Summaries.
Commentary: In a split with other circuits, the Third Circuit recently limited relief available to benefit plan administrators under ERISA. In US Airways, Inc. v. McCutchen, 663 F.3d 671 (3d Cir. 2011), the Third Circuit held that the “appropriate equitable relief” available under ERISA § 502(a)(3) to plan administrators can be limited by equitable defenses, such as unjust enrichment. The Court also held that such defenses can override express terms of benefit plans which, would otherwise allow full reimbursement from beneficiaries, regardless of whether the beneficiary was made whole. More...
Commentary: The Federal Circuit recently clarified several aspects of § 1920’s allowances for a prevailing party to charge its costs against the losing party. In In re Ricoh Co., Ltd., 661 F.3d 1361 (Fed. Cir. 2011), the Federal Circuit upheld the use of cost-sharing agreements over default statutory rules, allowed the taxing of both printed and recorded depositions, and signaled its displeasure with vague copying charges billed to the losing side. More...
Commentary: The Federal Circuit recently cleared the confusion resulting from eBay and confirmed that case eliminated the presumption of irreparable harm in permanent injunction analysis. In Robert Bosch, LLC v. Pylon Manufacturing Corp., 659 F.3d 1142 (2011 Fed. Cir.), the Federal Circuit reversed the district court and granted Bosch a permanent injunction without remand. The Court noted the “fundamental nature of patents as property rights” as basis for patent holders to continue to receive permanent injunctions against competitors, even without the shortcut of the presumption. More...
Commentary: The Ninth Circuit recently upheld the validity of conditional software licenses which avoid the pitfalls of the first sale doctrine. In Apple, Inc., v. Psystar, Corp., No. 10-15113, 2011 U.S. App. WL 4470623, (9th Cir. Sept. 28, 2011), the Ninth Circuit upheld a permanent injunction against Psystar due to its infringement of Apple’s copyrighted software. Psystar asserted copyright misuse defense against Apple. However, the Court found that Apple’s valid software licensing agreement did not prevent Psystar from making competing products, and thus was not a misuse of copyright. More...
Commentary: The Ninth Circuit recently affirmed contributory trademark and copyright infringement claims against a web hosting company which hosted an allegedly infringing website. In Louis Vuitton Malletier, S.A. v. Akanoc Solutions, Inc., Nos. 10-15909, 10-16105, 2011 U.S. App. WL 4014320 (9th Cir. September 9, 2011), the Ninth Circuit reiterated its view that web servers are “an essential step in the infringement process.” Id. at 4. More...
