Venture Briefing: Indiana Appellate Court Issues Pro-Creditor Decision Construing Personal Guaranty Venture Briefing: Indiana Appellate Court Issues Pro-Creditor Decision Construing Personal Guaranty

Venture Briefing: Indiana Appellate Court Issues Pro-Creditor Decision Construing Personal Guaranty

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Global Mergers and Acquisitions Climbing Close to $3T Record
Global mergers and acquisitions have climbed close to a record high this year, accelerated by a trio of multibillion-dollar deals in the U.S., Thomson Reuters data showed. So far this year, $2.9 trillion in deals have been announced globally, only three percent below the $3 trillion record peak in 2007.
(Source: Reuters, 2015-08-14) Read the full article
Companies Issuing Debt at Record Rates to Fund M&A
Companies are issuing debt at record rates to fund acquisitions in a move at least partly motivated by expectations of a rise in U.S. borrowing costs. Acquisition-related bond issuance has reached $290 billion so far for 2015, up from $106.8 billion this time last year, and the highest amount on record.
(Source: The Wall Street Journal, 2015-08-04) Read the full article
Global Crowdfunding Generated $16.2 Billion in 2014
Crowdfunding, once a niche model for those who couldn't get traditional financing, has gone mainstream. Active global crowdfunding platforms generated $16.2 billion in 2014 -- a figure that is expected to more than double in 2015 to $34.4 billion, according to crowdfunding research firm Massolution.
(Source: Entrepreneur.com, 2015-08-14) Read the full article
Venture-Backed Businesses Seeing Record Interest From P.E.
Private equity money is flowing into venture-backed businesses at an unprecedented rate, raising the stakes on early investors in startups. PitchBook Data reported that buyout shops have been involved in 181 fundings of VC-backed companies worth a total of $7.1 billion.
(Source: San Jose Business Journal, 2015-08-14) Read the full article
Corporate Boards Beefing Up Cybersecurity Presence to Cut Risk
A fast-expanding trend in corporate governance: the elevation of cybersecurity experts to the boardroom, a perch traditionally occupied by former CEOs and specialists in marketing and finance. Boards are responsible for advising chief executives on setting goals and plans to achieve them, and to question the challenges standing in the way and not adequately addressing a cybersecurity risk could prove costly -- in money, reputation, legal bills, lost time and lost customers.
(Source: Los Angeles Times, 2015-08-16) Read the full article
Congress to Focus on Fixing Corporate Tax Code After Vacation
Fixing the tax code for U.S. businesses will be at the forefront when Congress returns from vacation next month, with many lawmakers focusing on "C" corporations, despite new data showing a continuing decline in their numbers. The profits of C corporations, which are taxed separately from their owners, have soared since the 1980s, though the sheer numbers of these businesses have declined and their proportional contribution to federal tax revenues has slipped.
(Source: Reuters, 2015-08-13) Read the full article
States Creating Gov-Sponsored IRAs to Aid Small Business Workers
Roughly half of the U.S. states are working to create government-sponsored automatic individual retirement account (IRA) plans that would enroll workers without access to employer-sponsored retirement plans. California, Illinois, Oregon and Washington state have taken the lead, passing legislation to launch Secure Choice Pension programs.
(Source: Time, 2015-08-13) Read the full article
Judge Says SEC Use of Administrative Law Judges Unconstitutional
The U.S. Securities and Exchange Commission's use of administrative law judges, greatly expanded following the enactment of the Dodd-Frank law, has received a setback. U.S. District Judge Richard Berman in Manhattan ruled that the agency's method for appointing its in-house judges "is likely unconstitutional."
(Source: Bloomberg, 2015-08-13) Read the full article
Lawsuits Not Sole Reason On-Demand Cos Moving Away From Contractors
Many of the on-demand companies who have recently re-classified their independent contractors as employees -- or who began doing business by only hiring so-called W2 employees -- say blaming legal reasons is just a sideshow. Some say the real reason companies are switching is that it just makes them a better business.
(Source: Business Insider, 2015-08-04) Read the full article
Study Finds CEOs' Appearances Can Impact IPO Price
Wall Street is hardly a beauty pageant, but a new study suggests that when it comes to taking a company public, appearances can matter. The more a chief executive’s gestures and manners exude competence during investor pitch sessions, or the CEO is viewed as attractive or trustworthy, the more likely he or she is to have a higher-priced IPO, according to the study conducted by Elizabeth Blankespoor of Stanford University's Graduate School of Business, Bradley Hendricks of the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, and Gregory Miller of the Stephen M. Ross School of Business at the University of Michigan.
(Source: The Wall Street Journal, 2015-08-13) Read the full article
 
 
 
Headlines
Indiana Appellate Court Issues Pro-Creditor Decision Construing Personal Guaranty
Tony Aaron John Lawlor

In Smith v. M&M Pump & Supply, Inc.,[1] the Indiana Court of Appeals, Indiana’s intermediate appellate court, upheld a trial court’s grant of summary judgment that a personal guaranty of a corporate borrower’s debt executed by an officer of the borrower was enforceable against the officer. Read the full article online.

 

Independent Contractor Misclassification – The Next Big Thing
Felix "Pete" Wade

For the last few years, the “big thing” in employment litigation has been the misclassification of non-exempt employees as exempt under the Fair Labor Standards Act. As we discussed in a prior article, the U.S. Department of Labor recently has put employers on notice that they will be aggressively looking at misclassification of individuals as independent contractors. The U.S. DOL has taken the position that under the Fair Labor Standards Act the definition of employee is broad and more individuals should be classed as employees. Read full article online.

 

By The Numbers

IP-intensive industries have more than double the sales and capital spending than that of non-IP-intensive industries, and wages are more than 50% higher in IP-intensive industries.
Source: Forbes: Do Venture Capitalists Care About Intellectual Property?

 

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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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