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Business & Tax Law News
  
  

August 7, 2023

In this issue:

  

  

  
     

Notable Shift in Contract Law Regarding Release Contracts Could Affect Suppliers

Robert A. Hamor

The Michigan Supreme Court just issued a decision which may impact decades-long customs and practices in many industries–including the auto industry–with respect to “release contracts” associated with part purchases. 

In a recent case, the Michigan Supreme Court provided a critical differentiation between a requirements contract and what they referred to as a "release-by-release contract." This case, MSSC, Inc. v. Airboss Flexible Products Co., has effectively established a quasi-new class of contracts, furthering the complexity and depth of contract law...

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   AI Chat Bot   

Legal Insights into Businesses Using AI

The AI Revolution is here! Startups across our region are using AI tools in innovative new ways. But could there be legal pitfalls you haven’t considered?

On an episode of "Startup Grind", Foster Swift Cybersecurity attorney Taylor Gast discusses the recent history of AI and his experiences with it including:

  • Where he sees its use potentially going in the future,
  • Important regulations for entrepreneurs to be concerned about,
  • General liability concerns, intellectual property issues, and data privacy/cybersecurity concerns of using AI...

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   Look over reports with magnifying glass   

FAQs on the Corporate Transparency Act

The Corporate Transparency Act (“CTA”) was enacted as part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). Existing entities will have one year to report, meaning that the deadline for existing entities will have until January 1, 2024 to report the required information.

Visit our CTA resource page to learn more about:

  • What companies are covered by the CTA?
  • What information must be reported?
  • What are the exemptions for reporting companies?

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   Baseball Contract   

Legal Pitfalls to Avoid in Name, Image, Likeness (“NIL”) Contracts

Michael A. Cassar

A majority of states have passed laws allowing collegiate student-athletes to profit from their name, image, and likeness (“NIL”). Michigan’s law became effective on December 31, 2022. It allows student-athletes to sign endorsement deals, participate in advertising campaigns, and hire agents, consultants and attorneys to help arrange and negotiate these deals.

For the sake of both the sponsoring entity and the student-athlete, these deals should be memorialized in the form of a written contract...

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   Looking through resumes   

Preparing for 2024: What Employers Need to Know Now

October 12, 2023

Laws surrounding labor & employment are constantly changing and 2023 has been no exception. To learn more about the major issues and developments your company needs to address now for 2024, you're invited to join our Fall 2023 Labor & Employment Law Update. 

Below are the details of this webinar along with some short articles to give you a preview of what is to come...

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The Importance of Protecting Your Brand

Women Leaders LogoIn an episode of "Legal Strategies for Women Leaders", Business and Intellectual Property attorney Emily Wisniewski discusses the “Importance of Protecting Your Brand” including trademark and copyright. Emily provides answers to questions such as:

  1. What is intellectual property?
  2. What are the main types of intellectual property?
  3. How can you protect your trademark?
  4. How can you protect your copyright?
  5. For trademark protection, where can you file for registration?
  6. For copyright protection, where can you file for registration?
  7. How do you protect your trade secrets?

See the full video here: https://youtu.be/spB_KHALuDs

  

  

  
  

Recent Additions to the Firm

Bryan CermakFoster Swift Collins & Smith welcomed Bryan Cermak to its litigation practice group in the firm’s Southfield office.

Bryan brings more than 40 years of litigation experience in both Michigan and Ohio and with more than two decades in private practice as well as serving as general counsel. Bryan assists individuals and organizations with their personal legal needs including small companies attempting to grow their business including mid to large corporations with complex legal matters.

Mike MurshakMikhail “Mike” Murshak joined the firm's Lansing office in June. Mike is a licensed patent attorney and has extensive experience in a wide range of intellectual property matters including patent, trademark strategy and acquisition, and general IP and business counseling including preparation, prosecution, and licensing.

Mike works with start-up companies as one of his passions where he assists clients with negotiating terms, reviewing agreements, and due diligence. 

Dora BrantleyExperienced litigator and trial attorney, Dora A. Brantley, has joined Foster Swift Collins & Smith. She splits her time between the firm’s Detroit and Southfield offices. As lead counsel, Dora has successfully defended professional liability claims and claims brought against:

  • Restaurants and hospitality companies
  • Manufacturers, transportation carriers and drivers
  • Employers
  • Landlords and homeowners
  • Small business owners and,
  • Governmental entities and their employees.

The firm welcomed two lateral associate hires on June 20: Dina D. Kashat and Reed K. Powers.

Dina KashatDina joins the Employer Services practice group. She will split her time between the firm’s Lansing and Southfield offices. Dina’s practice focuses on representing insurances carriers, third party administrators and employers against workers’ compensation claims.

Reed PowersReed joins the firm’s Southfield office as a civil litigation attorney, focusing his practice on insurance defense litigation, tort and automobile liability, product liability and general liability matters.

  

  

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Foster Swift Collins & Smith, PC E-Newsletters are intended for general information for our clients and friends. This newsletter highlights specific areas of law and is not legal advice. The reader should consult an attorney to determine how this information applies to any specific situation.

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