Business Law Newsletter

• Former Employee's Ability to Disclose Trade Secrets
  Generally, a “trade secret” is any valuable business information that is kept confidential in order to give the business a commercial advantage in the marketplace. Trade secrets are valuable forms of property and thus, the... Read more.
• Intellectual Property Insurance
  Intellectual property (IP) generally consists of intangible assets, such as copyrights, patents, brand identities, proprietary knowledge and trademarks. Such assets can be extremely valuable to a company. However, when other companies... Read more.
• Scope of the Commerce Power and the Federal Arbitration Act
  First enacted in 1925, the Federal Arbitration Act (FAA) was created as an alternative to the high costs and delays of litigation. Up until that time, states were permitted to require disputants to litigate despite the existence of a... Read more.
• Whether Trademarks Used in Keyword Searches Constitutes Infringement
  Over the past few years, Internet search engines, such as Google or Yahoo, have generated large revenues by selling advertising through sponsored links or pop-up ads. For example, businesses pay a fee to Google to have their... Read more.

• Analyzing the $100 Million Lawsuit Against Zion Williamson and CAA
• Snopes, debunker of fake news, is locked in a nasty legal dispute
• Tacoma-based Snopes, debunker of fake news, is locked in a nasty legal dispute
• Sneaky amendment a bad response to doctors’ no-compete contract dispute
• Faze Clan and Tfue’s legal dispute could reshape e-sports and YouTube contracts forever

Who Regulates Securities?

“Securities” is a term that generally refers to shares of a corporation, promissory notes, and other liabilities. The laws regarding securities are very complex.

Securities are regulated by both federal and state laws. However, when state laws conflict with federal laws, the federal laws prevail. Both sets of laws usually require proper registration with an agency that regulates securities, such as the Securities and Exchange Commission (SEC).

The primary federal laws that regulate securities in the United States are the Securities Act of 1933 and the Securities Act of 1934. The former regulates the issuance of shares, while the latter regulates the trading of shares.

Securities Act of 1933

The focus of this Act is the initial money-raising phase of a corporation. Primarily, the 1933 Act requires certain disclosures and registrations, with exceptions.

Securities Act of 1934

The 1934 Act focuses upon the actual trading of shares within the market. Its purpose is to prevent fraud and insider trading. It is under this Act that stockbrokers are regulated.

State Securities Laws

States are permitted to regulate securities, as long as they don’t conflict with the federal laws. Most of these laws provide for registration and fraud prevention. State laws regulating securities are also called “Blue Sky” laws.

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