Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Marketplace
The Financial Accounting Standards Board and International Accounting Standards Board in London have agreed to undertake a joint project designed to overhaul FAS 13, the lease accounting rules in place since 1976. The decision to add a leasing project reflects the FASB's concern that the current accounting in this area does not clearly portray the resources and obligations arising from lease transactions.
Before making this decision, the FASB consulted with its constituents, including the FASB's Financial Account-ing Standards Advisory Council ('FASAC'), its User Advisory Council ('UAC'), and the SEC staff. Many of those constituents urged the FASB to undertake a project, expressing the view that current lease accounting standards fail to provide complete and transparent information. In fact, the SEC staff formally raised issues with, and recommended improvements to, this area as part of its June 2005 report to Congress on off-balance sheet arrangements as required by the Sarbanes-Oxley Act of 2002.
The proposed timetable for the project is as follows: This year, the FASB staff is conducting research on the scope and implications of the project; in 2007, the Board will begin deliberations; in 2008, a Preliminary Views document will be issued and comments will be solicited from interested parties; in 2009, a formal Exposure Draft will be issued for comment, with final guidance released that year as well.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
"Holy Fair Use, Batman": Copyright, Fair Use and the Dark Knight
The copyright for the original versions of Winnie the Pooh and Mickey Mouse have expired. Now, members of the public can create — and are busy creating — their own works based on these beloved characters. Suppose, though, we want to tell stories using Batman for which the copyright does not expire until 2035. We'll review five hypothetical works inspired by the original Batman comic and analyze them under fair use.