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H.B. 134 (1) Authorizes alternative standards for the election of directors of business corporations. (2) Requires that conversions of domestic corporations into other business entities and conversions of other business entities into domestic corporations be permitted by the Revised Code chapter or by the laws under which the converting entities will exist. (3) Allows a limited liability company to provide in its operating agreement or its articles of organization for the exercise of the rights of a member who dies or becomes incompetent for the purpose of settling the member’s estate or administering the member’s property. (4) Extends the shield of a partner of a registered limited liability partnership from personal liability for the obligations of the partnership. and (5) Validates meetings and votes of nonprofit corporations held by authorized telecommunications equipment on and after August 19, 2005.
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admin @ July 22, 2008
Business & Corporate, Intellectual Property
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By Rayan F. Coutinho
37 C.F.R. §3.11 and MPEP §3.11 provide the list of documents that may be recorded with the United States Patent and Trademark Office (USPTO). §(a) provides as follows – “Assignments of applications, patents, and registrations, accompanied by completed cover sheets as specified in §§3.28 and 3.31, will be recorded with the office. Other documents, accompanied by completed cover sheets as specified in §§3.28 and 3.31, affecting title to applications, patents, or registrations, will be recorded as provided in this part or at the discretion of the Director.” [emphasis added]. The term “Document” is defined in 37 CFR 3.1 to mean “a document which a party requests to be recorded in the Office pursuant to §3.11 and which affects some interest in an application, patent, or registration.
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admin @ June 19, 2008
Business & Corporate, General, Tax
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By Rayan F. Coutinho
Gross income means all income from whatever source derived, including compensation for services. It includes income realized in any form, i.e., money, property, or services. If compensation for services is paid in the form of property, the fair market value of the property must be included in income. Consequently, the value of those lodgings is includable in a taxpayer’s gross income unless specifically excludable under another provision of the Code. Section 119 provides in relevant part as follows: “SEC. 119. MEALS OR LODGING FURNISHED FOR THE CONVENIENCE OF THE EMPLOYER. There shall be excluded from gross income of an employee the value of any meals or lodging furnished to him by his employer for the convenience of the employer, but only if – *** (2) in the case of lodging, the employee is required to accept such lodging on the business premises of his employer as a condition of his employment. In determining whether meals or lodging are furnished for the convenience of the employer, the provisions of an employment contract or of a State statute fixing terms of employment shall not be determinative of whether the meals or lodging are intended as compensation.”
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admin @ April 17, 2008
Business & Corporate
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In 1986, California adopted an initiative known as Safe Drinking Water and Toxic Enforcement Act, still known by its original name of Proposition 65. Put simply, Proposition 65 requires businesses to notify Californians about significant amount of chemicals in the products they purchase, in their homes or workplaces, or that are released into the environment. In our client’s case, it is a product. The following are exempt from the provisions of Proposition 65: (1) businesses with less than 10 employees and (2) government agencies. A business is required to provide a “clear and reasonable” warning before knowingly and intentionally exposing anyone to a “listed” chemical.” This warning can be given by a variety of means, including by labeling.
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admin @ March 27, 2008