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Lessors and lenders need to be aware of a recently issued U.S. District Court decision addressing the enforceability of a prepayment premium in a mortgage loan context. The decision in <i>River East Plaza, LLC v. The Variable Annuity Life Company</i> (Slip Copy, 2006 WL 2787483 (N. D. Ill.)) was rendered on Sept. 22, 2006, by the U.S. District Court for the Northern District of Illinois (Eastern Division), construing Illinois law.
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For the last nine months, participants in the aircraft leasing and finance industry have been dealing with the newly formed international registry for the registration of interests in aircraft and the changes in substantive law governing aircraft sale, lease, and finance transactions brought about by the ratification of the Cape Town Convention on International Interests in Mobile Equipment and the related Aircraft Protocol. The Convention and Aircraft Protocol were developed and are being promoted by'
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Company X is evaluating whether it should purchase the assets of Company Y, which manufactures lawnmowers. Company X has been looking to break into the lawnmower market and sees the purchase of Company Y's assets as an excellent opportunity to do so. Company X is considering two courses of action if it purchases Company Y's assets: 1) continue the manufacture of Company Y's lawnmower product line, using Company Y's designs, specifications, diagrams, blueprints, personnel, and manufacturing facilities; or 2) cease the manufacturing of the product line, but continue Company Y's ancillary business of repairing and servicing the lawnmowers it sold to its customers. Company X comes to you with a seemingly straightforward question: Under these two scenarios, will it be held liable for product liability claims arising from Company Y's manufacture and sale of defective lawnmowers, even if, as part of the asset purchase, it expressly declines to assume Company Y's liabilities? Unfortunately, based on the current state of the law, you will not be able to provide Company X with an easy, clear-cut answer.
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Anti-Piracy Statutes/Constitutionality<br>Copyright Infringement/Probative and Substantial Similarity<br>Copyright Infringement/Substantial Similarity<br>Trademarks/Right to Sue<br>Video-Game Laws/Constitutionality
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The U.S. District Court for the District of New Jersey preliminarily enjoined further distribution and ordered the recall of the book 'Legit Baller,' which features an allegedly unauthorized, prominent use of photographs of popular R&B singer/producer Marc Dorsey on its covers. But the court declined to order a recall of the defendant publisher's other books that included advertisements of 'Legit Baller.' <i>Dorsey v. Black Pearl Books Inc</i>.
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Recently filed cases in entertainment law, straight from the steps of the Los Angeles Superior Court.
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Celebrity Images/Trade-Dress Claims<br>Copyright Infringement/Joint-Authorship Claim
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The Court of Appeal of California, Second District, Division 1, found an arbitration clause in a management agreement unenforceable under the California Talent Agencies Act. <i>Ferrer v. Preston</i>.
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Estate planning is central to the post-mortem distribution and protection of an individual's assets. Celebrities have special estate-planning concerns that include intellectual-property valuations, how the valuations affect estate taxes and post-mortem administration of intellectual-property. In the following interview, conducted in Nashville by Entertainment Law & Finance Editor-in-Chief Stan Soocher, entertainment attorney Robert L. Sullivan discusses these and related estate-planning issues that affect artists. Sullivan is a partner in the Nashville office of Loeb & Loeb where his clients include songwriters, music-publishing companies, record companies and recording artists. He has 30-years of experience as an entertainment lawyer and serves as a trustee for the estate of Johnny Cash.
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'Should I stay or should I go?'<br>That was the question that those classic '80s punk rockers The Clash asked in a song by the same title about a romance gone awry. That's just a song, though.<br>But, interestingly enough, that hard-driving ditty is applicable to the world of e-business: The entrepreneur contemplating the future of his or her business ' a love built of the same good times and bad, and with the same blood, sweat and tears as a real-life romance ' confronts the same dilemma when it's time to make that decision: Should he stay or should he go? How could a person not expect such perseveration? When an entrepreneur reads about the rapid rise of YouTube from startup to $1.65 billion buyout, he or she can easily forget about the many new firms that fail, and instead imagine being the personification of ' or fantasize about ' having a company that becomes the next tech-economy icon.