Business Law Section

Also at the annual meeting, Section's Vice Chair Justin Atwater offered a recap of his Spring Convention presentation "A Business Lawyer's Essential Toolkit." We encourage all of our Section Members to take advantage of the valuable toolkit resource Justin has compiled - the file size is too large for our blog, but you can download it on the bar's website by following this link, http://www.utahbar.org/sections/businesslaw/events.html, and then opening the "materials" link under Justin's presentation near the bottom of the page. The file will take a few minutes to download but is worth the wait. If any of you are willing to collaborate with the Section in the production of intermediate level toolkit materials for business law topics please contact us. As Justin explained, it is in all of our interest to educate each other and raise the bar as we seek to make Utah a more business friendly and business sophisticated state.

Our colleague Craig Call gave a wonderful presentation regarding negotiation principles at the annual meeting based on his extensive experience in resolving real property disputes. Here is a copy of Craig’s handout: Download file, and a link to Anderson Call & Wilkinson’s website, http://lawwest.com/, where you can find Craig's contact information. Thanks Craig!

Many thanks to Keith Prescott, Dave Demille and Merrill Taylor of Wisan Smith Racker & Prescott, LLP for their thorough and practical presentation on the importance of understanding IRC 704(c) when drafting operating and partnership agreements. Here is a link to their written materials: Download file. You can email Keith (kprescott@wsrp.com ), Dave (ddemille@wsrp.com) or Merrill (mtaylor2@wsrp.com) for follow up questions and advice or visit their website, http://www.wsrp.com/ for more contact and other information about their practice.

Congratulations to Ken Ashton of Snell & Wilmer who was elected by our membership at the annual meeting to be the Section’s new Secretary! Here is a link to Ken’s bio: http://www.swlaw.com/attorneys/kenneth_ashton. As we welcome Ken we also thank departing Chair Dave Hirschi for his years of service to the Section. Steve Clayton will now assume the role of Section Chair with Justin Atwater as Vice Chair, Brent Clayton as Treasurer and Ken Ashton as Secretary. Please contact the Section leadership for inquiries, input and Section information. Leadership’s contact information can be found on the Bar’s main website, http://www.utahbar.org/sections/businesslaw/Welcome.html. Thank you for your valuable membership in the Section and service in the area of business law!

The Section will present proposed updated Bylaws for the membership's approval at the Annual Meeting on Wednesday, April 25, 2012. You can review the relatively minor changes beforehand by opening this link: Download file

The Business Law Section's Annual Meeting is scheduled for Wednesday, April 25th from 8:00 am to 1:30pm at the Utah Law & Justice Center (645 South 200 East, Salt Lake City) - Sign up now! 4 Hours of CLE (including 1 hour Ethics). $50.00 for Section members and $105.00 for non-members, continental breakfast and lunch included. Register online at http://www.utahbar.org/cle/events/registration/annual_business_law.html. For an agenda of the annual meeting please expand this entry by clicking below.

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CDC Restoration & Construction, LC v. Tradesman Constractors, et al. 2012 UT App 60 (February 2012)
http://www.utcourts.gov/opinions/appopin/cdc_restoration022412.pdf
Business Law Topics:
Trade Secrets
Continue reading for a summary of the relevant facts, rules and case holding...

Continue reading "Misappropriation of Trade Secret Standards" »

Our Section has been asked by the Governmental Relations Committee to review S.B. 27 sponsored by Senator Howard Stephenson. The bill is intended to address issues raised by the Supreme Court’s Ivory Homes v. Utah State Tax Comm’n opinion (look under the “Recent Case Law” category for a summary of that case). The overall effect of the amendment appears to make it easier for a taxpayer to seek a refund of “overpayments” which it discovers after a vendor fails to separate out non-taxable items when applying sales tax on their invoices. You can review the bill and its status via the following link: http://le.utah.gov/~2012/htmdoc/sbillhtm/SB0027.htm . If you have any strong feelings about the bill or the way it is drafted please contact the Section Secretary Brent Clayton at brent@hsblegal.com as soon as possible.

Today Sen. Lyle Hillyard introduced S.B. 256 to the State Legislature which if passed (as expected) will extend the effective date of the new partnership and LLC acts from July 1, 2012 to July 1, 2013. You can look at the language of the bill via the link below. We have been told that the purpose of the delay is to provide the legislature more time to draft additional amendments to the partnership acts to harmonize them with the new Utah Revised Uniform Limited Liability Company Act. Stay tuned... we'll update you as more information becomes available.
Download file

Please take a moment to submit nominations for our 2011-2012 Practitioner of the Year Award and our 2012 Business Law Section Secretary (download forms by clicking link below). The Award will be presented at our annual section meeting scheduled for April 25, 2012 and an election of the Secretary will be conducted at the meeting as well. No position on whether super PACs are permitted under the Section Bylaws... good luck organizing one. Thanks!

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