A LETTER FROM THE PRESIDENT.
As we briskly walk into another winter season, we are followed by the memories of the prior year. Let’s remember what we are thankful for as we turn the page to 2019:
A busy year, as always, 2018 was host to half- and full- day Core Programs providing our Members with networking and learning opportunities and our Sponsors with opportunities to demonstrate their expertise and finesse. In Spring, we reminded ourselves of the gravitas of professional duty and honor during our Ethics Marathon with topics presented by the Louis Stein Center for Ethics and the Law, Jenner & Block, National Arbitration and Mediation (NAM), and Mintz Levin. Summer offered sunny weather for a bit of remodeling with our In-House Toolkit, refocusing on the foundation of ‘doing business’ in-house, with topics presented by Baker McKenzie, Cadwalader, CSC, Crowell & Moring, Dechert, Jackson Lewis, Jenner & Block, Majumudar & Partners, National Arbitration and Mediation, and Osborne Clarke. And, as the leaves started to fall, we found ourselves welcoming a new slate of Officers and Directors to the ACC-NYC Chapter during our Compliance Institute with topics presented by Baker McKenzie, Jenner & Block and Kirkland & Ellis. With over 40 programs through 2018, we couldn’t be more grateful to our Sponsors, Board of Directors, volunteers, and members.
The ACC Annual Meeting took place in Austin, Texas in October. Many of the Board of Directors seized the opportunity to build a better board – and, reinforcing our 2019 objectives to be active listeners creating a better community - to learn from and network with other Chapter leaders and members. One of my favorite moments was a spontaneous conversation with a firm sponsor discussing ways to better address gender diversity in daily life and opportunities to infuse our community, workplaces, and lives with respect and kindness for each other. It’s about people. All people. Equally.
Finally, per tradition, we welcome our members and sponsors to join us at our annual Winter Gala in January. A New Year, New Objectives. And, ‘acknowledging the good that you already have in your life is the foundation for all abundance.’
 Eckhart Tolle
President, ACC New York City Chapter
What Are the Limits of the GDPR? European Data Protection Board Issues New Guidance on Territorial Scope of the GDPR
By: Kelly Hagedorn and Emily A. Bruemmer, Jenner & Block
How far does the GDPR extend? On November 16, 2018, the European Data Protection Board (EDPB) issued draft guidance on the territorial scope of the GDPR. This client alert highlights the importance of these recent guidelines, provides an overview of the topics covered and explains why the guidelines—while still in draft form—are nonetheless “required reading” for any company with business in the European Union.
What is the EDPB?
The EDPB is the successor organization to the Data Protection Working Party, which was established by Article 29 of the Data Protection Directive and therefore known as the “Article 29 Working Party.” As of last May, the Directive, including Article 29, has been supplanted by the GDPR, and the EDPB has taken the place of the Article 29 Working Party as the independent body which is tasked with advising the European Commission on data protection law. [READ MORE]
Arbitration and Mediation for Young Lawyers: An Introduction to the Alternative
“The young advocate would be remiss in not familiarizing themselves with the ever-expanding world of ADR.”
As a fresh out of law school attorney starting out as a litigator with a municipal agency, I was eager to try every case I could get my hands on to gain valuable trial experience – a goal I’m sure many attorneys have during the early stages of their careers. I also realized early on, that not all cases could go out to trial, otherwise the court system would be paralyzed. Instead, when a case reached a settlement it usually did so at one of the numerous pre-trial conferences in court. Back in the 1990’s, when I was a Principal Law Clerk in the Bronx Supreme Court, Alternative Dispute Resolution (ADR) as we know it today, was rarely used as an alternative to trial. Cases being settled in a private forum using mediation or arbitration were novelties. However, in recent years, ADR has exploded onto the scene and has become essential to the resolution of numerous types of civil legal disputes. Prior to my leaving the bench in 2017, it became apparent that due to increases in court calendars and decreases in judicial resources, fewer cases were being sent out for trial. Instead, more and more disputes were being settled using ADR. One side effect of this, is that young lawyers are now faced with fewer opportunities to hone their trial experience. However, with ADR on the rise, one could argue that attorneys should be encouraged to gain exposure to mediation and arbitration as early in their careers as possible. [READ MORE]
Proposed Regulations Under Section 9651
By: Reza Nader, Tom May, Julia Skubis Weber, and Daniel Stern, Baker McKenzie
On August 9, 2018, the Treasury Department (“Treasury”) and the Internal Revenue Service (the “IRS” or the “Service”) published in the Federal Register proposed Treasury Regulations interpreting new Section 965 (the “Proposed Regulations”). Enacted as part of the Tax Cuts and Jobs Act (the “TCJA”), Section 965 addresses the previously untaxed earnings of foreign subsidiaries by mandating the deemed repatriation of those earnings.
The Proposed Regulations provide welcome guidance on matters that have weighed on taxpayers mindful of the extraordinary compliance burden that Section 965 presents for the 2017 taxable year. The topics covered in the Proposed Regulations include: the mechanics of the deemed repatriation; the calculation of deemed-paid foreign taxes; the treatment of earnings and profits (“E&P”), previously taxed income (“PTI”) and basis following the deemed repatriation; special rules for anti-avoidance transactions and double counting of E&P; the treatment of passthroughs, consolidated groups, and individuals; and the mechanics for filing and installment payment election, among others. [READ MORE]
Registering Your Brand’s Color as a Mark
By: Dasha Chestukhin, Cowan, Liebowitz & Latman
You probably already know that you can register a trademark in a word, a design or even a shape. But did you know that you can also obtain a trademark for color alone? It is a high bar to clear, but it is possible to claim an exclusive right to use a color (or a combination of colors) in connection with specific goods or services.
Under the Lanham Act, “any word, name, symbol, or device, or any combination thereof” can serve as a trademark. If a color indicates the source of goods or services, it functions as a trademark. In Qualitex Co. v. Jacobson Prods. Co., 514 U.S. 159 (1995), the U.S. Supreme Court confirmed that even an individual color can be legally protected as a mark in certain circumstances. [READ MORE]
Women’s Group with Norton Rose and PokerDivas: Learning How to Win Big Using the Strategies of Poker
The final Women’s Group event of the year ended with a valuable piece of advice from Ellen Leikind, founder of PokerDivas: “know what you are looking for.” She was referring to a relationship, job, and hand… yes, a Poker hand. On October 12, 2018, Women’s Group Sponsor, Norton Rose Fulbright US LLP and Partner Judith Archer, introduced Leikind, a successful marketing executive who turned the game of Poker into a tool to encourage and empower women in life and within their professions. Despite a gloomy New York City evening, the night was full of vibrancy as attendees were greeted with shrimp cocktail, chocolate fondue, and a deck of playing cards upon arrival. Women’s Group co-chair, Danielle Manner, gave a touching nod to current and departing co-chair, Naomi Waltman, revealing the truly inspiring and positive connections that women share at group meetings and events. [READ MORE]
7 Job Search ‘Tips’ Legal Professionals Can Ignore
- Openings are always advertised. Some of the most sought after legal positions never reach job boards. Before turning to formal job postings, law firms and corporate law departments may look first to their own professional connections and associations to fill vacancies. These employers may also have an employee referral program, which gives priority to friends and outside colleagues because they’re known quantities. So while job post websites are indispensable in today’s search process, don’t overlook good, old-fashioned networking — both in-person and via social media. [READ MORE]