Schwell Wimpfheimer & Associates LLP

William Galkin quoted in E-Commerce Times

Deborah Kandel April 30, 2012

William Galkin was quoted in an E-Commerce Times article entitled “Schmidt: Sun Was Warm to Java Arrangement” “Schmidt would have to show evidence that Sun impliedly consented to use of the patent,” William Galkin, Internet attorney at Schwell Wimpfheimer & Associates, told the E-Commerce Times. “However, even an implied...

Can You Keep A Secret? Tips for Negotiating Non-Disclosure Agreements

Tuvyah (Terry) D. Aronoff February 12, 2012

Non-Disclosure Agreements (also commonly known as Confidentiality Agreements) are used in a variety of business relationships. Here are some of them: A prospective employee, independent contractor or consultant to a business will be asked to sign one as a condition to being hired. Two companies considering doing business with each other will want to protect...

Reminder- Deadline for New York Employers is February 1, 2012

Meira Ferziger January 22, 2012

This is a reminder that effective April 2011, the New York Wage Theft Prevention Act (“WTPA”) requires employers to annually issue to all New York employees a written notice of the employee’s work conditions, even if the employee has a written agreement in place and there has been no change in the employee’s work conditions. The deadline for issuing...

SEC Amends Definition of “Accredited Investors”

Craig Tzvi Gherman & Jan S. Wimpfheimer December 29, 2011

Last week the U.S. Securities and Exchange Commission (the “SEC”) amended its rules to exclude the value of a person’s home from net worth calculations used to determine whether such individual qualifies as an “accredited investor”. The amendment is not “new law” but rather simply conforms the SEC rules with the Reform and Consumer Protection...

SEC Limits its Non-Public Review Policy for Non-U.S. Issuers

Craig Tzvi Gherman December 14, 2011

On December 8, 2011, the Division of Corporation Finance of the U.S. Securities and Exchange Commission significantly limited its policy of allowing non-U.S. issuers to submit initial drafts of registration statements (initial public offering or other first-time registration statements) on a “draft” confidential basis. The policy had previously...

SEC Moves Forward and Approves Tougher Listing Standards for Reverse Merger Companies

Craig Tzvi Gherman November 29, 2011

Earlier in November, the Securities and Exchange Commission approved new rules (the “New Reverse Merger Rules”) that make it more difficult for companies that have effected a “reverse merger” (also known as a “reverse takeover”) to go public and meet the required listing standards of the three major U.S. exchanges – the NYSE, NYSE Amex and...