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Contractors
who misrepresent their size or status to the government would face
much stiffer penalties under a rule proposed by the Small Business
Administration earlier this month. The proposal, an implementation
of last year's Small Business Jobs Act, would make contractors that
misrepresent themselves in order to qualify for contracts intended
for small businesses or those owned by women, veterans or other
disadvantaged groups liable for the full amount of the contracts
they win -- even if they provide the desired services or equipment.
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(Source: The Washington
Post (free reg. req'd), 2011-10-23)
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The U.S.
government is making it easier for small businesses to beef up
defenses against cyber criminals through a free, online tool, the
top U.S. communications regulator said. The Small Biz Cyber Planner
will allow business owners to create customized cybersecurity
plans by answering basic questions about their company and its
online presence.
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(Source: Reuters,
2011-10-24)
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As the White
House and Republicans battle over regulations, a new poll finds
that small-business owners rank "complying with government
regulations" as the most important problem that they face.
Indeed, 41 percent of small business owners said that government
was somehow related to the biggest problem facing their companies,
says a Gallup poll.
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(Source: Politico,
2011-10-25)
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Generally,
as start-ups grow, they hire outside accounting firms. If the
company continues to grow, and its financial reporting requirements
become more complex, the chief executive might decide to bring on a
full-time controller who can take charge of maintaining the
business's general ledger and bank accounts.
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(Source: The New York
Times, 2011-10-26)
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The surge of
trading activity in the stock of private companies such as Facebook
and Groupon could soon run up against its
natural limitation: It's not entirely clear what happens after
those boldface names advance to the big leagues. The field of
dealers offering these off-exchange services to accredited
investors has become crowded of late, thanks in part to the
social-media glamour names, but critics say the pipeline of
companies beyond these highflying names is rather thin, putting the
sustainability of these private markets into question.
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(Source: The Wall Street
Journal, 2011-10-27)
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Venture
capitalists invested more money in more U.S. startups in the third
quarter than they did a year earlier -- especially in the software
industry. According to a study, startup investments rose 31 percent
in the July-September period, to $6.95 billion from $5.31 billion a
year earlier.
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(Source: ABC News,
2011-10-19)
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Although M&A activity is heating up, don't expect
the latest big deal to spark a new round of merger mania. Because
it's been a pretty good year for smaller mergers, even if one or
two large deals get inked, merger activity could top 2010 levels,
but that's still a far cry from the highs of 2007, when $1.6
trillion worth of deals got done in the U.S.
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(Source: CNNMoney.com,
2011-10-21)
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Seed-stage
investments have become the new battle ground for investors. For
the first time, relatively large venture capital investors are
focusing their attention on small investments -- in the range of
$500,000 to $750,000 in startups -- and at least seven new firms
seek to build a business funding these early-stage companies.
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(Source: The Wall Street
Journal, 2011-10-25)
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Large hedge
funds, the very private investment outfits that borrow money to
magnify their big financial bets, will be required for the first
time to report detailed information on their investments and
borrowings under a rule adopted by the Securities and Exchange
Commission. But hedge funds and their advocates, after intense
lobbying, won several important concessions from the commission's
earlier proposal.
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(Source: The New York
Times, 2011-10-26)
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The House
Judiciary Committee unveiled new legislation designed to crack down
on online piracy. The proposed legislation would grant the federal
government broad powers to cripple websites that host illegal
content.
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(Source: Reuters,
2011-10-26)
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It appears that the Internal Revenue Service (the
"Service") has finally caught up to the times in terms of
employer-provided cell phones. While it has become a common occurrence
for employers to provide cell phones to their employees for work related
purposes, the tax treatment surrounding such actions has been arcane.
Up until last year, employer-provided cell phones were
classified as "listed property" for tax purposes. As a
result, the Service required employees to maintain detailed records of
usage of employer-provided cell phones in order for employers to deduct
the cost of the cell phones as an ordinary and necessary business
expense and for the employee to exclude the cost of the business use of
cell phones from their income. The Small Business Jobs Act, passed in
2010, removed employer-provided cell phones as listed property. As a
result, employers could make reasonable allocations and estimates of
business use and personal use.
You can read the entire article online. For additional questions regarding this
recent guidance, please contact Tom Schnellenberger or Matt Ehinger, or your Ice
Miller Tax Attorney.
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Ice Miller is pleased to partner, once again, with TechPoint to host a special VIP reception on
Monday, Nov. 7. In addition, Ice Miller partner Dustin DuBois will be
co-presenting with Sean O'Connor, a partner at Flat12 Bierwerks, in the "Rapid Fire" theatre
during the summit on Tuesday, Nov. 8. Their discussion will focus on
product commercialization and the legal issues facing emerging growth
businesses. To learn more about the event contact Allison Heinekamp,
Ice Miller LLP, at: allison.heinekamp@icemiller.com
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The John H. Boner Community Center's mission is to provide
services that enhance the ability of neighborhood residents to
experience greater self-reliance and an improved quality of life.
Founded by the neighborhood in 1971, the Center has grown to provide a
wide array of services that impact over 7,200 neighborhood residents
annually. Key areas of services include: early childhood development
education; tutoring school-age children; youth and leadership
development activities; a group home for homeless and runaway youth;
transitional housing for homeless youth; workforce development
services; financial education, coaching and asset-building strategies;
homeless prevention and crisis intervention; housing for seniors and
homeless individuals and families; senior socialization/wellness
programs and elder-adult day services. To learn more about the Firm's
work on the project financing for this important program, click here.
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Ice Miller LLP and Schottenstein
Zox and Dunn Co., LPA recently announced that
the firms will combine and operate as Ice Miller LLP effective January
1, 2012. SZD is one of the largest Columbus,
Ohio-based law firms, serving clients from its offices in Columbus and
Cleveland, Ohio. SZD is known for handling
complex business transactions and high-stakes commercial litigation and
serves the legal needs of many governmental entities throughout Ohio.
View the full press release online.
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Venture capital firms raised less money last quarter than
at any point in the past eight years, according to the National Venture
Capital Association in Arlington, Va.
Source: San Jose Mercury News
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Ice Miller has been one of the most active law firms in
the private equity industry over the last decade, representing both
entrepreneurs building great companies and the private equity firms and
individuals that invest in them. We have extensive experience with all
types of funds (formations and operations); mezzanine and senior
secured financing; leveraged buyouts, roll-ups, build-ups, and
consolidations; divestitures and exits; and complex litigation on
behalf of investors and privately financed companies. In addition, over
the past 10 years, Ice Miller has represented hundreds of emerging
growth businesses in various industries on such matters as entity
formation, capitalization, capital raising, alternative financing,
intellectual property rights and protection, growth and exit
strategies, corporate governance, tax matters, and many other legal
issues that are critical to the growth and success of an emerging
company.
Read the complete profile of the Private Equity and Venture Services Group.
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