Corporate

Expert Analysis

• A Practical Method For Utility Property Interest Allocation

  

  Certain utility companies are exempt from the 30 percent limitation on the deductibility of interest expenses under Internal Revenue Code Section 163(j), but the IRS has yet to define how companies involved in both exempt and nonexempt activities should allocate interest expenses on their tax returns. We suggest a practical approach consistent with congressional intent, say attorneys at Eversheds Sutherland LLP.

• Life Sciences Cos. Must Be Careful With Donations

  

  This year, the U.S. Attorney's Office for the District of Massachusetts has investigated several life sciences companies for their donations to independent copay assistance charities. As the list of investigations grows longer, life sciences companies should reassess their policies, procedures and monitoring regarding donations, say attorneys at Paul Hastings LLP.

• When Should Independent Directors Get Their Own Counsel?

  

  With boards of directors facing greater scrutiny from investors and higher risks of litigation than ever before, independent directors should, in certain circumstances, consider having their own legal counsel. Christopher Kaufman, a retired partner of Latham & Watkins LLP, looks at six situations in which the interests of the various groups of directors may be misaligned.

• 10 Steps To Modernizing Corporate Integrity Agreements

  

  A recent report by the U.S. Government Accountability Office highlights the important role corporate integrity agreements play in protecting federal health care programs when federal laws are violated. Given their central role in promoting compliance, it is time for the U.S. Department of Health and Human Services’ Office of Inspector General to update its templates and approach, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

• #MeToo At Law Firms And What We Can Do About It

  

  While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

• Tax Reform Adds Value To IRS Accounting Method Changes

  

  The IRS’ annual automatic accounting method changes for 2017 and the 2017/2018 corporate tax rate differential created by last year's tax overhaul together provide companies with a unique opportunity to benefit permanently from changes that would otherwise be temporary, say Ellen McElroy and Michael Resnick of Eversheds Sutherland LLP.

• Careless Employee: A Company's Biggest Trade-Secret Threat

  

  Companies clearly believe that training programs are the most meaningful way to reduce employee carelessness when it comes to protecting corporate assets. However, as new survey results demonstrate, these training programs are not enough to combat the careless insider, says Audra Dial of Kilpatrick Townsend & Stockton LLP.

• How Will Weinstein Co. Bankruptcy Impact Accusers?

  

  Due to the idiosyncrasies of American bankruptcy law, The Weinstein Company's recent bankruptcy filing could cause many of Harvey Weinstein’s accusers to receive pennies on the dollar relative to what they are owed under state and federal laws prohibiting workplace sexual harassment, say Matthew LaGarde and Jessica Westerman of Katz Marshall & Banks LLP.

• Opinion

  Oregon Should Reinstate Its Tax Haven Law

  

  Repeal of the Oregon tax haven provision was an unwarranted giveaway to profitable multinational corporations that are exploiting foreign tax havens to shift profits earned in Oregon beyond the tax reach of the state. The law should be reinstated, says Michael Mazerov of the Council on Budget and Policy Priorities.

• Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

  

  In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.