VRP Law Group, P.C.

A Boutique Business, Employment and Intellectual Property Law Firm

Archive for the ‘Last Week’s Update’ Category

Information Technology and Intellectual Property Audits: What are they? Why do we need them? What do we need lawyers for?

Tuesday, November 11th, 2014

Information Technology (IT) and Intellectual Property (IP) Audits are more and more common place and necessary for today’s trusted advisers and professionals. The more effort you take to make sure that you protect your client’s confidentiality, intellectual property, personal information, banking information, tax information, business strategy and marketing plans, is protected the better of you will be. VRP Law Group’s IT Audits consist of the following: 1) Review of your Technology Service Agreements; 2) Reviewing and Identifying Gaps if any, in any ISP or network security settings; 3) Making sure that there is an immediate and prompt investigation that identifies vulnerabilities, breaches in data security, documents and preserves the investigation and the evidence gathered during the investigation; 4) providing good terms of use and privacy policies for use of your client’s websites or your own website; 5) Creating good internal controls to protect extremely sensitive information, intellectual property and vital trade secrets; and 6) having effective IT communication policies, password protection means, and effective training and communication of such policies to your employees and IT vendors.

Moreover, making sure that you use trusted IT vendors and manage any change in network and internet service providers to ensure that proper security protocols and change management procedures are followed by your employees, your current and future trusted vendors. Without having someone like VRP Law Group that can oversee the process and/or identify the gaps, vulnerabilities, and coordinate an effective investigation and response the change management procedures may be ineffective in addressing data security issues. These data security issues can lead to liabilities for identity fraud or theft, breach of client’s confidentiality, misappropriation of your trade secrets, vital research and development memos, confidential consulting opinions, freedom to operate opinions, willful infringement opinions, patentability analysis, prior art search analysis, fraud upon the USPTO, US Copyright or Trademark Office, or many sometimes unforeseeable problems, until a lawsuit is filed.

Empowering yourself, your employees to deal with these problems without the worry of irrational fears and implementing the necessary change management procedures is a challenging endeavor. VRP Law Group is here to help you see and identify the foreseeable and legitimate risks without heading down the wrong path or becoming an individual that is unable to see anything, but impending doom in terms of managing its assets, confidential information, intellectual property and other vital competitive advantages that may be a lure for any hacker. Using our IT and IP audits will enable you to make sure that you work closely with experienced technology counsel, cyber Law, data privacy law, and intellectual property counsel. This is always a team endeavor to make sure that you focus your clients, entrepreneurs, small or large companies’ resources on the right breach or vulnerabilities to document and preserve the corrective measures and ensure that future or repeated incidents are minimized.

Your clients and you will sleep a bit easier at night with having VRP Law Group’s IT and IP Audit professionals looking after you, your clients, your intellectual property, your change management procedures, and related information technology matters. For more go to: www.vrplawgroup.com, www.bipeblawg.com, www.eebrunchclub.com

Impact of the Definition of a Judicial Entity and the Principles of Corporate Citizenship on the Internet!

Tuesday, September 9th, 2014

The most important part of any inquiry into corporate citizenship and a foreign national’s international business of any enterprise is determining, which, laws will apply. It is extremely difficult for any international company to plan for expansion into new countries without considering the impact of the citizenship of each of its Members. Limited Liability Companies and C-Corporations are the most preferred type of structures for purposes of corporate expansion and acquisition of corporate funding. Unfortunately, it is very difficult to determine the citizenship of each Member or Transferee and ensure that the Operating and Membership Agreement has the proper restrictions to ensure that you do not run afoul of the LLC’s corporate Citizenship rules.

If a foreign national is doing business in the US, then its ability to take advantage of local laws and tax regulations will be subject to the citizenship of each Member. For purposes of diversity jurisdiction, each individual’s citizenship will be considered for purpose of subject matter jurisdiction. Thus, if, you have an individual from China or Brazil, the first, inquiry, is whether or not the entity will be recognized as a US citizen, corporation or partnership. Once, this is determined based on the citizenship of each individual member and at least, one individual is a US Citizen, the Corporation will qualify for US Citizenship or legal entity status of a Judicial Entity for purposes of being able to take advantage of local laws.

However, when you have international citizens that conduct business in the US or reside in the US this raises a bit of a concern about the potential conflict between corporate citizenship rules the regulations relating to taxation of the individual. Each country has an incentive to ensure that their local tax revenues are maintained; thus, this issues is particularly, important for online companies and foreign nationals looking to do business in the US. The U.S. has entered into a tax treaty with most major countries to avoid double taxation of income to the LLC or Corporation. The idea being that if, you have paid taxes overseas, then you are not required to pay more taxes on the funds that are brought into the U.S. However, with respect to individuals that live in international countries, but stay in the U.S. for less than 180 days, they are able to avoid having to pay income taxes in the U.S.

For more go to: www.corporateacquisitionsattorney.com, www.bipeblawg.com, www.iptrialattorney.com or www.chicagobusinesscounsel.com

Increasing Value of Copyrights in a Increasingly CyberWorld!

Tuesday, June 24th, 2014

Copyrights are great method of developing an Intellectual Property acquisition strategy that allows for a significant amount of flexibility and ensures that the Copyright Holder still has a method of creating a barrier to entry. One of the biggest mistakes many entrepreneurs or startups make is ignoring or failing to understand the true value of Copyrights, which can be acquired for any type of content, including the following:

a) their websites and derivatives thereof;

b) their blogs and derivatives thereof;

c) commercials or advertising videos;

d) links to downloadable content of any type that is original and fixed in a tangible medium of expression;

e) advertising and marketing brochures that are final, polished, published or about to be published;

f) comparative advertising content based on the larger players in the market to help establish fair use, nominal use or a potential parody defense;

g) their operations manuals and employment handbooks that are substantially completed and required to be distributed to a larger number of employees;

h) the use of photographs or images of individuals that are employees after acquiring the proper consent and assignment of copyrights;

i) creating a corporate strategy that allows incorporation of copyrights to permit the use of licenses, assignments, royalties, and potential tax savings for the Copyright Holder, the Licensor, and the Licensees.

If you would like to learn more, then go to: www.bipeblawg.com, www.iptrialattorney.com, www.chicagoentrepreneursattorney.com

The Illinois Regenerative Medicinal Institute (IRMI), What is it?

Tuesday, December 22nd, 2009

 The Illinois Regenerative Medicinal Institute (IRMI) is a division of the Illinois Department of Public Health. It was recently established by the Illinois General Assembly to further stem cell research and improves the health care services that Illinois citizens receive.  No matter, which side of the debate you fall on, you should be aware that the IRMI is empowered to provide funds to help stimulate stem cell research. 

The IRMI is responsible for creating grant programs that further many objectives, including the following: 1) improve the health of Illinois citizens through stem cell research; and 2) promote the translation of stem cell research into clinical practice and the transfer of technology to the biomedical and technology industry. 

The IRMI has and is still promulgating rules for the types of grant programs, eligibility for grant programs, conditions for use and disbursement of funds, etc…However, if you are established business or start up engaging in research on stem cells, then you have a new potential source for funds.

You can find additional information at Stem Cell Funding or contact us for additional inquiries.

Funding for Hospital Improvement Projects

Tuesday, December 15th, 2009

  The State of IL has enacted new legislation granting the Illinois Department of Public Health (“DPH”), the ability to award grants for improving, renovating, or replacing the hospital’s equipment and technology.  See. 20 ILCS 2310/2310-640(a).  Such projects may be for a variety of hospital concerns such as, safety standards, building codes, maintaining or improving buildings, improving health information technology, or patient safety.  Id.

 A hospital that meets the criteria is eligible to receive a grant of not less than $2,500,000 or more than $7,000,000.  20 ILCS 2310-640 (b).  For a hospital that does not meet the criteria, DPH may make a one time capital grant to any public or not for profit hospital located in counties of less than 3,000,000 in habitants.  20 ILCS 2310/2310-640 (c). 

 Eligible hospitals must have a Medicaid inpatient utilization rate of ten (10) percent for the rate year beginning October 1, 2008.  The grant consists of a base payment of $170,000 for each acute hospital in an urban area, or $340,000 if located in a rural area.  In addition, the hospital may be awarded $45 multiplied by the number of total Medicaid inpatient days for each hospital. 

 This new source of funding is not only an important consideration for hospitals, but also for established and new construction, technology, and consulting companies that provide services to hospitals.  If you have any concerns or questions regarding this new source of funding for hospitals, then please feel free to contact us.

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