Good Medicine: Pharma Industry Seeing Positive Steps From the Top Down

With Northeast Ohio strengthening its foundation in the bioscience space, we’ve kept a close eye on patent law developments that may impact or impede a company's road to progress.

In a recent article in Crain’s Cleveland Business, Susan M. Hopkins stated: the “U.S. Supreme Court answered a longstanding question in intellectual property law: Can a human gene be patented? The court's answer in Association for Molecular Pathology v. Myriad Genetics was a resounding no.” Read the full article here.

Fir...

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New Procedure Steamlines Patent Infringement Defense

The following article is brought to you by our colleagues at the law firm of  Hahn Loeser & Parks.

Companies accused of patent infringement now have a more cost effective method to contest the validity of asserted patents as compared to traditional litigation. The America Invents Act introduced Inter Partes Review (IPR)--a new procedure at the United States Patent Office designed to streamline challenges to issued patents. Under the IPR process, a challenger files a petition setting forth the...

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Small Business Classification: Possible Changes Affecting Development Stage Entities

Under current accounting standards, startup companies that are devoting substantially all of their efforts to creating a new business may be considered Development Stage Entities (DSE) if either 1) the principal operations haven’t commenced yet OR 2) principal operations have commenced, but there has been no significant revenues generated.  Once identified as such, DSEs have additional financial statement disclosure and reporting requirements, as discussed in my previous blog on August 27, 2012....

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Crowdfunding Update: 5 points to keep you compliant

As business advisors, we want to help our clients and contacts grow their businesses and find success in today’s marketplace.  Use of our networks including referrals to bankers, individual investors, or private equity companies add value to business owners by helping them to find the funding they need in order to get them to the next level.  As a part of that added value, our goal is to stay up-to-date on alternative sources for funding and share that knowledge with our clients and contacts. 

Acc...

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SEC Ready to Put the Fun Back into Crowdfunding

Earlier this week, the SEC lifted the general solicitation ban for Title II of the JOBS Act. Why is this important, what does it mean and just HOW exciting is this news to the Average Joe or Mary?

First, the Feds have finally understood the importance of “Main Street” having access to investment opportunities. Although various websites exist to raise funds for start-ups, early stage and innovative companies i.e. Crowdfunding (a few of which we have blogged previously), the general public has been...

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Is there a 3D printer in your future?

If you haven’t looked into 3D printing yet, maybe you should.  3D printing started in the mid-80’s but it is now  emerging as a technology that may well change the way many products are created.  Oxford University has demonstrated that a 3D printer can make synthetic tissue, Oxford Performance Materials out of Connecticut has “printed” a skull implant, and Cornell University has fabricated an ear using this technology. A Dutch architect, Janjapp Ruijssenaars, plans to build a house using...

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Free Offer Friday: Communication Strategies: Delivering the Right Message Throughout The FDA Approval Process E-Book

When a company ventures down the FDA approval process, they can expect to communicate with four key groups. These groups include regulators, the medical scientific community, the patient community and investors. Although each group differs, companies should ensure that the messages delivered throughout the process to each of these groups are accurate and consistent.In this e-book from our Life Sciences Group, we've laid out some tips on how to deliver your message throughout each step of the...

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$150 Million Available under IRC Section 48C Tax Credits for Qualifying Advanced Energy Projects

Phase II of the qualifying advanced energy program is now in effect by re-allocating Phase I credits that remain.  The IRS just announced that $150 million are available under this program for clean energy and energy efficiency manufacturing projects in the United States.  To be considered for any of these credits, taxpayers must submit concept papers to the US Department of Energy (DOE) by 4/9/13 and applications to the DOE and IRS by 7/23/13.

Below are definitions per the Notice.

A qualifying...

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Crowdfunding… what’s next?

Just Google “crowdfunding” and you will be rewarded with hours of entertainment.  Main Street’s attempt at bargain investment opportunities held exclusively for years by Wall Street, “accredited investors,” and venture capital firms has taken flight in a big way.  The impact to innovation is immeasurable.

Med City News reports that the new kid on the block is Christie Street, which focuses on products – gadgets if you will – rather than novelties, services, or other Kickstarter-like...

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How to Compute the Research & Development Tax Credit in a Merger or Acquisition

The American Taxpayer Relief Act of 2012 (the Act) extends the Section 41 Research & Experimentation Tax Credit (or the R&D Tax Credit) for two years retroactively from January 1, 2012 - December 31, 2012.  In addition, the Act clarifies the treatment of qualified research expenditures (QREs) in an acquisition or disposition of a trade or business.

The taxpayer acquiring the trade or business is to prorate the target’s QREs, gross receipts and related base year impact using the number of days...

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