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Preventing Insider Trading at Biopharma Companies
Between clinical trial results, open-label trials, licensing and collaboration discussions, and acquisition or sale talks, development and clinical-stage public biopharma companies and their insiders often possess material, nonpublic information. And since company equity usually makes up a large part of insiders' compensation, legal issues arise when insiders have access to such information and want to trade their equity. To complicate matters, market regulators are watching and will be quick to ask who knew what, when they knew it, and who traded whenever a company's stock price moves significantly. To protect against insider trading risks and regulatory scrutiny, it is key to have a robust control environment for insider trading.
Insider-Trading Policies
The cornerstone of a well-functioning control environment is a good insider-trading policy. This policy will provide directors, officers, employees and others with a clear statement of the rules for transacting in the company's securities. The existence of such a policy also may help insulate the company from the actions of the SEC and others should an employee or someone else engage in insider trading in violation of the policy.
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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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?