Trademark: ‘Generic.com’ trademarks OK with Supreme Court

Recently, the U.S. Supreme Court ruled that a generic word and .com when used together, such as in the company name “Booking.com”, could be eligible for exclusive U.S. trademark protection. This decision overturned a long standing U.S. Patent and Trademark Office (“USPTO”) prohibition on granting U.S. trademark registration for trademarks that contained a generic word …

Closely Held Business – 7 Duties to Minority Owners

Generally, the majority owners of a closely held (private, non-public) business have certain legal obligations to the minority owners preventing the majority owners from abusing their position and taking certain corporate actions without the approval of the minority owners. For example, in a general partnership where one partner owns 51% of the ownership interests in …

Reviewing a Contract – 5 Key Terms to Consider

1. Order of Preference Clauses Many times a contract will reference another contract within its terms and conditions. Examples include Service Agreements which can also include signed Statements of Work, signed Purchase Orders and other documents containing supplemental terms and conditions to a Service Agreement. When reviewing a contract that mentions, includes or incorporates the …

LLC – Distribution of Non-Cash Assets – Deemed Distributions

In general, distributions of property other than cash from an LLC taxed as a partnership are tax-free to the members. This feature of an LLC is one reason why a business operating as an LLC may choose to be taxed as a partnership rather than a corporation. There are five circumstances in which a distribution …

LLC – Distribution of Non-Cash Assets -Marketable Securities

There are five circumstances in which a distribution of property other than cash to an LLC member can trigger gain recognition for the LLC or an LLC member. A distribution of ‘marketable securities’ to an LLC member can trigger one of the five circumstances where a member or LLC must recognize gain on a distribution …