Intellectual Property Group Objects To FASB Changes

Law360, New York (October 9, 2008, 12:00 AM EDT) -- The Intellectual Property Owners Association has raised concerns that changes to financial disclosure rules proposed by the Financial Accounting Standards Board could put companies at greater risk of incurring lawsuits, among other things.

In a letter Wednesday, Steven W. Miller, the IPO's president, said that the proposed changes could open companies up to litigation, particularly intellectual property lawsuits. Under the proposed changes to FASB statements 5 and 141(R), a company would have to disclose on its annual financial statements any potential losses, including in litigation....
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