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Importing food into the United States involves compliance with regulations set by the Food and Drug Administration (FDA) to ensure the safety and quality of the products. Here is a summarized overview of the FDA requirements for importing food into the U.S.: Registration of Food Facilities:Foreign food facilities must register with the FDA, and this registration should be renewed biennially.…
In the fast-paced world of New York business, securing the creative output of your employees, contractors, and service providers is crucial. The “work for hire” clause is a legal tool that can provide your company with the protection it needs. In this blog post, we will explore how the “work for hire” clause safeguards your business interests. Understanding the “Work…
As New York City takes bold steps towards a greener future, building owners find themselves facing the challenges posed by Local Law 97 (LL97). This groundbreaking regulation mandates progressively stricter emissions limits for thousands of structures in the city, aiming to reduce greenhouse gas emissions and combat climate change. In this blog, we will delve into the key provisions of…
Corporate governance is a critical aspect of running a successful business, particularly in New York, where regulations and legal requirements are stringent. Effective corporate governance practices ensure transparency, accountability, and the protection of stakeholders’ interests. Directors and officers play a pivotal role in upholding these best practices, with their fiduciary duties and responsibilities. From maintaining proper record-keeping to managing conflicts…
The real estate market in the United States has always been an attractive avenue for foreign investors seeking stable returns and long-term growth. However, the Foreign Investment in Real Property Act (FIRPTA) plays a crucial role in regulating and overseeing such foreign investments. FIRPTA, enacted in 1980, aims to ensure that the taxation of gains from the disposition of U.S.…
In an effort to combat illicit activities like money laundering, corruption, terrorist financing, and tax fraud, effective January 1, 2024, the Corporate Transparency Act (CTA), enacted in 2021, will introduce standardized reporting requirements for beneficial ownership information pertaining to corporations, limited liability companies, and other business entities operating or registered in the United States. The CTA mandates that such businesses…
CRYPTO-LAW: ENFORCEMENT ACTIONS AND NEW LEGISLATIVE ACTIONS IN THE U.S. AND ABROAD Unprecedented Enforcement Actions by the SEC The pace of enforcement actions initiated by the SEC against cryptocurrency firms reached unprecedented levels last week with the filing of two significant lawsuits against Binance and Coinbase. In the case of Binance, the charges are more extensive, encompassing allegations of fund commingling…
The most sophisticated investors purchase a property in NYC through a Limited Liability Company (LLC). Here are some of the benefits of using an LLC for property ownership: 1. Liability Protection: One of the primary benefits of using an LLC is the limited liability it provides. By holding property within an LLC, the owner's personal assets are generally protected from…
Intellectual property (IP) protections in the United States are primarily governed by federal laws and regulations. Here is an outline of the main forms of intellectual property protections available: 1. Patents: Utility Patents: Granted for novel and useful inventions, including processes, machines, compositions of matter, and certain types of plants. Utility patents are the most common and are grouped into…
EU Approves Regulatory Framework for Crypto Assets Lawmakers in the European Union have approved two new crypto-related laws. The Markets in Crypto-Assets (MiCA) law requires licensing for crypto wallet providers and exchanges operating in the EU, making it the first major jurisdiction in the world to implement such a comprehensive crypto law. Another law, the Transfer of Funds regulation, mandates…