Venture Briefing: FTC Provides Guidance on Building Security in the “Internet of Things” Venture Briefing: FTC Provides Guidance on Building Security in the “Internet of Things”

Venture Briefing: FTC Provides Guidance on Building Security in the “Internet of Things”

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VCs Pour More Money into Startups, But Fall Short in Early Stage
The total amount of cash pouring into startup companies continues to rise as later-stage startups remain popular with investors. But smaller early stage startups are finding fewer investors ready to pay the high prices they're asking for company shares.
(Source: Phys Org, 2015-05-05) Read the full article
Private Lenders Supply Funding for More Small Companies
A new paper from the Alternative Investment Management Association, a London-based hedge fund lobbyist, estimates that private debt funds -- including hedge and private equity funds, among others -- now manage about $440 billion globally, with $64 billion of new capital allocated to the sector last year alone, per Preqin data. The surge in activity from private lenders, according to AIMA, is a boon for smaller companies.
(Source: CNBC, 2015-05-07) Read the full article
USDA Will Support Private Funds Aimed at Raising Rural Investment
The United States Department of Agriculture will support two private investment funds that will together raise $125 million to buy stakes in businesses across rural America. The funds, called Rural Business Investment Companies, are part of a U.S.D.A. program aimed at attracting private equity investments in agriculture-related businesses.
(Source: The New York Times, 2015-04-29) Read the full article
FASB Proposes Delay in New Revenue Recognition Standards
FASB issued a proposed Accounting Standards Update that would delay the effective date of the new, converged revenue recognition standard by one year. Under FASB’s proposal, public organizations would be permitted to apply the new revenue recognition standard to annual reporting periods beginning after Dec. 15, 2017, while nonpublic organizations would be permitted to apply the new standard to annual reporting periods beginning after Dec. 15, 2018.
(Source: Journal of Accountancy, 2015-04-29) Read the full article
SEC Unveils New Executive Pay, Performance Rules
The Securities and Exchange Commission voted 3-2 to propose a rule to link the pay of top corporate executives to their companies' financial performance. SEC Chairwoman Mary Jo White said in a statement that the proposed rules "would better inform shareholders and give them a new metric for assessing a company's executive compensation relative to its financial performance."
(Source: NPR, 2015-04-29) Read the full article
SEC Chief Accountant Wants to Do Away with IFRS Convergence
Sounding a death knell for the more-than-decade-long effort to fully "converge" International Financial Reporting Standards with U.S. Generally Accepted Accounting Principles, James Schnurr, the chief accountant of the Securities and Exchange Commission, said that he probably won't recommend that the SEC should mandate IFRS or that U.S. companies should have the choice of preparing their financials under those standards. Speaking at the 14th annual Baruch College Financial Reporting Conference in New York City, Schnurr said that "there is virtually no support to have the SEC mandate IFRS for all registrants."
(Source:, 2015-05-08) Read the full article
Global Governments Seek to Rein in Corporate Profit-Sharing
International finance leaders from advanced- and developing- economies are set to gather at a Group of 20 international tax symposium in Istanbul, Turkey. Their discussion is expected to focus on the "base erosion and profit shifting," or BEPS, that countries blame for allowing corporations to keep untaxed profits offshore.
(Source: The Wall Street Journal, 2015-05-05) Read the full article
Google Offers Marketplace for Patent Owners to Thwart Trolls
Google is trying to get a jump on patent trolls, inviting patent owners to submit their patents to an experimental marketplace for sale. The search engine giant made its anti-troll intentions clear in a blog post announcing its new Patent Purchase Promotion as "an experiment to remove friction from the patent market."
(Source:, 2015-04-28) Read the full article
CEOs Expect Biotech IPOs to Remain Strong
Biotechnology companies have been going public in record numbers, and many of them have been immediately embraced by public-market investors once their stock starts trading. Chief executives of two venture-backed companies that went public spoke at the National Venture Capital Association's annual conference in San Francisco and said the good days for drug-developers will likely last for a long time, as their success is built on much more than simply what is trendy among consumers right now.
(Source: The Wall Street Journal, 2015-05-08) Read the full article
FTC Provides Guidance on Building Security in the “Internet of Things”
George A. Gasper Stephen E. Reynolds Siddharth “Sid” Bose

In today’s digital age, the omnipresence of the internet and internet-connected devices has led to the coining of “The Internet of Things.” From cellphones and computers, to refrigerators and televisions, to vacuum cleaners and dishwashers, everyday aspects of consumers’ lives are increasingly connected to the internet. Read full article online.


By The Numbers

The Silicon Valley Venture Capitalist Confidence Index dipped from 3.93 in the fourth quarter of 2014 to 3.81 in Q1.
Source: CNBC - Silicon Valley venture capitalist confidence dips in Q1


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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.

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This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.

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