The regulatory landscape for crypto asset markets is evolving at a pace that is testing the adaptability of market participants, lawmakers, and regulators alike. In recent months, legislative proposals, executive orders, and agency initiatives have combined to signal a potential shift in how digital assets will be regulated in the United States.1 State securities regulators, […]
On August 6, 2025, the U.S. Court of Appeals for the Ninth Circuit issued its opinion in Powell v. SEC, No. 24-1899, rejecting a facial challenge to the U.S. Securities and Exchange Commission’s longstanding “no-admit/no-deny” settlement policy codified in Rule 202.5(e) (the “Rule”), colloquially referred to as the “gag rule.” The unanimous decision leaves intact […]
On July 29, 2025, the U.S. Securities and Exchange Commission issued Release No. 34-103571, granting accelerated approval to a suite of proposed rule changes submitted by The Nasdaq Stock Market LLC, Cboe BZX Exchange, Inc., and NYSE Arca, Inc. (the “Exchanges”). These rule changes permit a select group of Bitcoin– and Ether-based Commodity-Based Trust Shares […]
The Nation Venture Capital Association, an organization comprised of members representing both the interests of startups and venture capital firms (NVCA), first developed the suite of agreements commonly referred to as the “NVCA model legal documents” over a decade ago and have since adopted revised forms to reflect both changes in legislation and trends in the emerging company ecosystem. What hasn’t changed is the basic format substantive content of each of the following five primary documents: (1) Amended and Restated Certificate of Incorporation; (2) Stock Purchase Agreement; (3) Investors’ Rights Agreement; (4) Voting Agreement; and (5) Right of First Refusal and Co-Sale Agreement. Below is a relatively high-level summary of the NVCA documents and is not intended to capture the entire universe of provisions and issues addressed by the full text of such documents.
In 1994, Congress amended the U.S. Patent Laws to create a new type of patent filing called a provisional patent application, and with this came a good deal of confusion – even to this day.
On June 5, a unanimous Supreme Court ruled that majority-group plaintiffs cannot be held to a higher evidentiary standard than minority-group plaintiffs when bringing claims for discrimination under Title VII. In other words, all plaintiffs must meet the same standard when establishing a prima facie case for discrimination, regardless of whether they are in a […]
On April 23, 2025 (the “Effective Date”), President Trump issued an executive order entitled “Restoring Equality of Opportunity and Meritocracy” (the “Executive Order”) concerning the disparate impact liability that has been employed in discrimination enforcement actions and lawsuits. Disparate impact involves imposing a theory of discrimination liability when a practice, neutral on its face (and no intent […]
On January 21, 2025 (the “Effective Date”), President Trump issued an executive order entitled “Ending Illegal Discrimination and Restoring Merit-Based Opportunity” (the “Executive Order” or “EO”). This Executive Order significantly changes federal contractors’ compliance obligations under federal law. While there is much uncertainty about how courts will interpret these provisions and which parts of the […]
Introduction to Venture Capital Securing venture capital is a pivotal step for early-stage scaling companies aiming to expand. Venture capitalists (VCs) provide essential funding in exchange for equity stakes, enabling startups to accelerate their development and market reach. This guide outlines how to find venture capital, when to seek it, and effective strategies for attracting venture […]
Introduction to Angel Investors Securing funding is a pivotal step for early-stage scaling companies aiming to expand their operations. Angel investors can be a valuable source of funds, both at the ideation stage, and particularly for businesses that have already developed a product or service and are ready to take their growth to the next […]
In a continuing series of judicial actions, on December 26, 2024, a merits panel of the Fifth Circuit Court of Appeals issued an order (the “Merit Panel Order”) reinstating the nationwide preliminary injunction enjoining enforcement of the Corporate Transparency Act (“CTA”) and the Reporting Rule, including the impending reporting deadlines, by vacating a stay of […]
The experimental use exception is a common law defense to patent infringement that was first articulated in Whittemore v. Cutter, 29 Fed. Cas. 1120 (C.C.D. Mass. 1813). In Whittemore, the court approved a jury instruction for determining patent infringement as requiring the alleged infringer to have intended to profit from the making or use of […]
I often have conversations about financing with passionate entrepreneurs. The advice I give is that before approaching financing sources, it’s critically important to make sure that the company’s “foundational puzzle pieces” are in place in order to increase the probability of fundraising success. Unless each of the four is in place, you’re likely to create a negative first impression.
For companies with employees in California, it has long been accepted practice that noncompeteprovisions in employment agreements are unenforceable. California courts have ruled that suchprovisions are invalid under California’s general prohibition against restraints of trade (Ca. Bus. andProf. Code Sec. 16600). California has now adopted a law that codifies this general understanding andgoes two steps […]
In April of this year, the Federal Trade Commission (“FTC”) issued a rule (“Final Rule”)that would have effectively banned employers from enforcing non-competition provisions in contracts with their employees. That rule was originally set to take effect on September 4, 2024. If the Final Rule had become effective, almost all non-compete agreements would have been […]