Commercial Law

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This first article in a series examines both the anti-assignment provision and the financial statement provision, both of which can be found in most equipment leases.

Features

A San Francisco federal jury found that early versions of Electronic Arts' Madden NFL Football were derivative works of a game created by Robin Antonick. The verdict ' the second favoring Antonick in a three-phase trial ' will be worth between $3.5 million and $11.6 million in unpaid royalties, pending a decision on prejudgment interest, according to one of Antonick's attorneys.

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Copyright Infringement/Contempt Motion Denied<br>Venue Competition/Expert Witnesses

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The FASB and IASB issued the second Exposure Draft ("ED") of the proposed new leasing rules on May 16, 2013 with a deadline for comments of Sept. 13, 2013. The ED is an improvement over the 2010 ED in that it is closer to current GAAP in areas such as the definition of the lease term and lease payments.

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Who's doing what; who's going where.

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In the last several years, private investment groups and wealthy, experienced business owners have showed increased interest in purchasing franchisees. At the same time, food and retail franchisors have moved more deeply into developing units at nontraditional locations. These twin developments have been, for the most part, highly positive for the franchising industry. However, both trends have raised one major challenge for franchisors: negotiating contract terms that deviate from their standard FDD.

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Finance Companies' Rights to Collect <br>True Lease vs. Security Interest: In General<br>Lessors' Damages: Measures and Entitlement<br>Vendor Issues<br>End-of-Term Lease Provisions<br>Forum Selection, Jurisdiction and Choice of Law<br>Assignments of Leases

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Courts frequently wrestle with how to apply post-petition payments for rental proceeds deriving from lenders' pre-petition collateral. The issue arises principally in single asset real estate cases, because generally post-petition proceeds of the debtor are the rents attributable to the lender's collateral.