We are pleased to share outstanding highlights this month about our firm, the venture capital landscape, and our clients and contacts who continuously enrich the entrepreneurial ecosystem.
Developments in the law
New Committee on Foreign Investment in the United States (CFIUS) regulations impacting foreign investment in U.S. businesses and real estate went into effect on February 13. Listen to McCarter’s inaugural podcast in which partners Zack Hadzismajlovic, who heads the Global Trade practice and focuses on CFIUS and export controls, and Ron Leibman, who heads the Transportation, Logistics & Supply Chain Management group, discuss the changes.
New Jersey Governor Phil Murphy has signed into law several bills aimed at combating the misclassification of workers as independent contractors rather than as employees. The new enactments expand the authority of the New Jersey Department of Labor and Workforce Development (DOL), create new requirements for businesses, and broaden penalties for worker misclassification. We outline the newly enacted laws, most of which took effect immediately on January 20, and recommend review of your practices in these areas here. Relatedly, Ron Leibman was quoted in the Wall Street Journal article “Judge Blocks California Gig Economy Law Enforcement on Truckers” on how trucking companies challenged a test that California law uses to determine whether contract workers should be considered employees.
Helping clients at the intersection of technology and… you name it
Where software-as-a-service meets sports and entertainment, we represent such clients as TicketSocket, Inc.—a provider of white-label ticketing, registration and related services which is in the process of going global—in numerous matters, including equity financings and revenue based borrowings; favorable multinational joint ventures; and online ticketing service provider deals with high profile event organizers for music festivals, conventions, races and endurance contests, sports competitions, and other types of large gatherings where tickets and merchandise are sold online. To help TicketSocket scale globally, we have also worked on its privacy compliance (e.g., GDPR and CCPA), and are registering its trademark in the US and numerous countries.
Growing the team
Scott Seger has joined McCarter in our Boston office. Scott has advised startups and their founders on issues of corporate and personal cross-border taxation while working in the Tel Aviv offices of major U.S. accounting and tax consultancy firms. Prior to law school, Scott worked on the fixed-income trading desk of a Boston investment firm.
Lawyer’s in McCarter’s Venture Capital & Emerging Growth Companies Practice group empower clients throughout the development cycle—from ideation to creation, capitalization, implementation, commercialization and monetization.
2.20.2020—TiE NY Angels—February 20
2.26.2020—SoCal Startup Day
3.18.2020—Raising Capital in Cannabis
1.13.20 Ronald M. Leibman authored “USDOT Announces Updated Autonomous Vehicle Technology Guidelines”—Transportation, Logistics and Supply Chain Management Alert
1.14.20 Ronald M. Leibman authored “Federal Judge Extends TRO on California’s Enforcement of AB 5”—Transportation, Logistics and Supply Chain Management Alert
1.16.20 Ronald M. Leibman quoted in “Judge Blocks California Gig Economy Law Enforcement on Truckers”—The Wall Street Journal
1.17.20 Ronald M. Leibman and Hugh F. Murray, III authored “Win for Motor Carriers in Battle in California over Employment Classification of Owner-Operators”—Transportation, Logistics and Supply Chain Management Alert