New Protections for Trademark Brand Owners
Among the provisions of the recent COVID-19 Economic Relief Bill, signed into law December 27, 2020, was the inclusion of the Trademark Modernization Act of 2020 (“TMA”) which includes important changes to trademark law. The TMA helps clarify the standard for brand owners seeking injunctions and introduces a more efficient mechanism for removing trademark “dead
Changes in Chicago Law in 2021
As the year 2020 has officially come to the close, we look to 2021 with hope for better days ahead in the new year. But with the new year also comes changes to laws in Chicago. Among these are changes to the minimum wages, shared housing, extension of business relief, vehicle fuel and cloud tax,
The Specialized Knowledge of Construction Engineering Firms and their Duty to Disclose Conditions
Construction engineering firms should be aware of a recent ruling regarding a firm’s duty to disclose housing conditions to purchasers. In the case 21 Kristin Condominium Ass’n v. Pioneer Engineering & Environmental Services, the First District of the Illinois Appellate Court reversed a circuit court’s dismissal of a complaint that alleged negligent misrepresentation on the
Lightfoot’s New Budget Includes Property Tax increase
The Chicago City Council voted to approve Mayor Lori Lightfoot’s $12.8 billion budget plan, including a $94 million property tax increase. The budget was passed on November 24th, which was followed by the property tax levy that then passed by a 28-22 vote. The property tax increase goes into effect in 2021 and includes an
Strategies to Combat Truck Driver Shortages
The freight industry has experienced a massive pendulum swing this year, beginning with an all-time high of 471,000 drivers in February 2020, to an eight-year low of 440,000 drivers by October 2020. The drop in the number of drivers is a product of the COVID-19 pandemic and its associated economic effects. Among these effects was
Momentum Grows For Change In Law Firm Ownership Rules
There is a growing list of states considering a change to their legal system rules that would allow non-lawyer entities to own law firms. New York, Illinois, Connecticut, Florida, and North Carolina are all exploring the possibility of making substantial ownership changes they hope could potentially make civil legal services more affordable to middle class
Streamlined Loan Forgiveness Process for PPP Loans Under $50,000
As of October 8, 2020, loan recipients under the Paycheck Protection Program (“PPP”) have a new, streamlined application form for requesting loan forgiveness. The new loan forgiveness form, SBA Form 3508S, may be used by businesses that received a loan totaling less than $50,000 or, together with its affiliates, received PPP loans totaling less than
Major Boon for Insureds Seeking COVID-19 Business Interruption Coverage
Recent cases involving insurance companies against insured businesses seeking COVID-19 business interruption coverage could be of great importance due to the decisions’ focus on the impact of the virus as well as the expectations of a reasonable insured. A Missouri Court in Blue Springs Dental Care v. Owners Ins. Co. examined the “direct physical loss
Business Liability for Family Members of Workers who Contract COVID-19
The COVID-19 pandemic has raised many new questions in employment law. One emerging question is the liability of a business when a worker who was infected while on the job, passes the COVID-19 infection to his or her family member(s). This issue has yet to be addressed by most courts, however a recent Kane County,
SEC Changes Definition of Accredited Investor
On August 26, 2020 the Securities and Exchange Commission (“SEC”) adopted amendments to the “accredited investor” definition, which is a principal test used to determine who is eligible to participate in the US private capital markets. These amendments revise Rule 501(a), Rule 215, and Rule 144A of the Securities Act of 1933. These new amendments