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ANAND LAW PC > Business & Transactions
13 June
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Accounting for Internal Revenue Code Section 280E When Drafting Operating, Joint Venture, Employment, and Licensing Agreements for Marijuana & Cannabis Businesses

Posted by Admin Anand
in Business & Transactions, Entertainment, Media & Tech

[fusion_builder_container hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_size="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" border_position="all" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="small-visibility,medium-visibility,large-visibility" center_content="no" last="no" min_height="" hover_type="none" link=""][fusion_text columns="" column_min_width="" column_spacing="" rule_style="default" rule_size="" rule_color="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id=""] [vc_row triangle_shape="no"][vc_column][vc_column_text] INTERNAL REVENUE CODE SECTION 280E [/vc_column_text][vc_column_text] Under Federal law, marijuana remains illegal, classified as a Schedule 1 controlled substance under the Controlled Substances Act (CSA).  Nonetheless, and regardless of whether or not marijuana...

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02 June
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When Colors Act as a Trademark

Posted by Admin Anand
in Business & Transactions, Entertainment, Media & Tech

[fusion_builder_container hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_size="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" background_position="left top" background_color="" border_size="" border_color="" border_style="solid" border_position="all" spacing="yes" background_image="" background_repeat="no-repeat" padding_top="" padding_right="" padding_bottom="" padding_left="" margin_top="0px" margin_bottom="0px" class="" id="" animation_type="" animation_speed="0.3" animation_direction="left" hide_on_mobile="small-visibility,medium-visibility,large-visibility" center_content="no" last="no" min_height="" hover_type="none" link=""][fusion_text columns="" column_min_width="" column_spacing="" rule_style="default" rule_size="" rule_color="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id=""] [vc_row triangle_shape="no"][vc_column][vc_column_text]When Colors Act as a Trademark[/vc_column_text][vc_empty_space][vc_column_text] Trademarks are defined by the Lanham Act as “any word, name, symbol, or device, or any combination thereof” that is used to “identify and distinguish” one’s...

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30 November
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No longer need all that space? Termination of Leases in Bankruptcy

Posted by Kevin Hellon
in Bankruptcy & Reorganization, Business & Transactions

[vc_row triangle_shape="no"][vc_column][vc_column_text]What happens to a lease agreement after filing for bankruptcy? Does it automatically terminate or must the obligations in the agreement be upheld? Or can you cancel or terminate it?[/vc_column_text][vc_empty_space][vc_column_text] THE AUTOMATIC STAY [/vc_column_text][vc_empty_space][vc_column_text] Immediately upon the filing of a bankruptcy petition, an “Automatic Stay” goes into effect which prevents creditors such as landlords from commencing eviction proceedings, continuing an eviction proceeding, or collecting past due rent. [/vc_column_text][vc_empty_space][vc_column_text] TENANT PROTECTIONS [/vc_column_text][vc_empty_space][vc_column_text] In addition to this protection, a debtor may also “assume” or “reject” an unexpired lease with court approval. Under a Chapter 11 or a Chapter 13 bankruptcy proceeding, there is no fixed amount of time...

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21 October
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RESTAURANT AND BAR INSOLVENCY & REORGANIZATION

Posted by Kevin Hellon
in Bankruptcy & Reorganization, Business & Transactions

[vc_row triangle_shape="no"][vc_column][vc_column_text]One in four restaurants won’t reopen after the coronavirus pandemic, according to OpenTable’s CEO.[1] Indeed, businesses within the hospitality industry such as restaurants and bars are especially vulnerable in the current economic crisis caused by COVID-19. Even in times of fairer weather, opening and maintaining a successful restaurant or bar is no easy feat. Chapter 11 protections allow struggling businesses to take a step back and reorganize. By filing for Chapter 11 protections a struggling business may take advantage of the following benefits.   [1] https://www.marketwatch.com/story/1-in-4-restaurants-wont-reopen-after-the-coronavirus-pandemic-opentable-ceo-warns-2020-05-15?mod=article_inline[/vc_column_text][vc_empty_space][vc_column_text] The Business May Operate Normally During Proceedings [/vc_column_text][vc_empty_space][vc_column_text] An “automatic stay” goes into effect as soon as a...

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21 October
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THE “SEVEN YEAR RULE” : CA LABOR CODE §2855 & THE ENTERTAINMENT INDUSTRY / 7 Year Rule

Posted by Kevin Hellon
in Business & Transactions, Entertainment, Media & Tech

[vc_row triangle_shape="no"][vc_column][vc_column_text]California, home to Hollywood, remains the epicenter of the entertainment industry. It is no surprise that an extensive number of contracts in the industry are governed by California law. For an industry that is based on the services of actors, actresses, musicians, and other artists, any change in the State’s labor laws are pivotal. Over the years, one such law has been of great concern to the industry: California Labor Code Section 2855 (the “Seven Year Rule”), which limits the length of time for a personal service employment contract to seven years.[/vc_column_text][vc_empty_space][vc_column_text] What is Section 2855 of the California Labor...

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21 October
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A BRIEF OVERVIEW : TRADEMARK COEXISTENCE AGREEMENTS

Posted by Kevin Hellon
in Business & Transactions, Entertainment, Media & Tech

[vc_row triangle_shape="no"][vc_column][vc_column_text]One of the primary purposes of having trademark protection is to avoid consumer confusion. Trademarks, including names, logos, and other branding, are the reason one can distinguish a Nike shoe from a Puma shoe. However, some brands have similar branding, and still manage to protect their goodwill while coexisting in the market.  To “coexist” in the market, companies with trademarks that may be confused by consumers sometimes enter into trademark coexistence agreements.[/vc_column_text][vc_empty_space][vc_column_text] What exactly is a Trademark Coexistence Agreement? [/vc_column_text][vc_empty_space][vc_column_text] The International Trademark Association defines a coexistence agreement as "an agreement by two or more persons that similar marks can coexist without...

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21 October
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Can Cooperatives Save the Gig Economy? USING COOPERATIVE ASSOCIATIONS TO SAVE THE RESTAURANT DELIVERY BUSINESS

Posted by Kevin Hellon
in Business & Transactions

[vc_row triangle_shape="no"][vc_column][vc_column_text] CALIFORNIA JUDGE ORDERS UBER AND LYFT TO RECLASSIFY WORKER STATUS [/vc_column_text][vc_empty_space][vc_column_text]Recently, a California judge ordered Uber and Lyft to reclassify their workers from independent contractors to employees with benefits. Lyft planned to discontinue services in California as soon as this order was put into effect. Although it remains to be seen whether or not this decision will survive the appeals process, the decision has highlighted major problems within the modern gig economy. Workers under these ride hailing companies, as well as workers within similar food-delivery services, do not receive the benefits generally associated with employment such as health insurance, workers’...

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07 July
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USURY LAW (LIMITATIONS ON INTEREST RATES CHARGED ON LOANS)

Posted by Kevin Hellon
in Business & Transactions

[vc_row triangle_shape="no"][vc_column][vc_column_text]The California Constitution prohibits loans that are made primarily for personal, family or household purposes from having interest rates above 10% per year.  This is California’s general usury law.  However, there are many exceptions. First, as implied from the above, loans made for business purposes are not capped at 10% interest (although there are other caps).[/vc_column_text][vc_empty_space][vc_column_text] HOME LOAN EXEMPTION [/vc_column_text][vc_empty_space][vc_column_text]Second, a loan that is taken out to be used primarily for buying a home (i.e. a mortgage) or improving a home (i.e. a construction loan) are not considered loans for personal, family or household purposes, and thus are not capped at 10%...

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