Foley Hoag LLP

SUMMARY

On December 21, 2009, President Barack Obama signed into law an extension of the federal COBRA subsidy created by the American Recovery and Reinvestment Act of 2009 (“ARRA”).

SUMMARY

The US Citizenship and Immigration Services (“USCIS”) has initiated a significantly expanded version of its Site Visit Program in an effort to uncover fraud in the H-1B temporary worker program. Because of a funding increase, USCIS is increasing the number of employer site visits, and, in the coming months, many employers who have sponsored foreign nationals for employment-based nonimmigrant petitions will be the subject of an investigation.

SUMMARY

Yesterday, a new federal rule took effect, which requires many federal contractors to use the E-Verify system to determine their employees’ eligibility to work in the United States.  E-Verify is a free web-based system operated by the Department of Homeland Security, in partnership with the Social Security Administration.  The system compares employee information from the Employment Eligibility Verification Forms (I-9) against federal government databases in order to verify workers’ employment eligibility.  Under the new rule, many companies which are awarded a federal contract after September 8, 2009 will be required to enroll in E-Verify within 30 days of the contract award date.  The contractor will need to use the system to verify employment eligibility for all new hires, regardless of whether the employee will work on the federal contract, and also for all existing employees who perform work on the contracts. 

 

SUMMARY

The Obama Administration announced earlier this year that U.S. Immigration and Customs Enforcement (ICE) would implement a new, comprehensive strategy to reduce the demand for illegal employment and protect employment opportunities for the nation's lawful workforce. Moreover, the Administration made it clear that this new enforcement effort would be targeted at employers and ICE is now focusing resources on investigating employers suspected of employing undocumented workers.

SUMMARY

Included in this Issue:

• Get Your Pole Vaults Out - Mark Haddad
• The Numbers - Amanda Vendig
• Selected New England Series A Round Transactions: First Quarter 2009
• Selected New England Series B and Later Round Transactions: First Quarter 2009
• Terms of Selected New England Series A Rounds 2009
• Terms of Selected New England Series B and Later Rounds
• The Activity Level Summary
• New England Series A and First Round Transactions by Industry
• New England Series B and Later Round Transactions by Industry
• National Series A and First Round Transactions by Industry
• National Series B and Later Round Transactions by Industry
• Size of New England 2009 Series A and First Round Transactions by Industry
• Size of New England 2009 Series B and Later Round Transactions by Industry

SUMMARY

Trade secrets can be a valuable component of an intellectual property (IP) portfolio, whether as a complement to patents or as an alternative. Companies benefit from an IP portfolio that matches the unique benefits of trade secrets and patents to the types of information they seek to protect. Trade secret protection can be available immediately, without going through a government agent, whereas a patent is available only after an application to and approval by the government. And unlike patents, trade secrets provide IP protection of potentially infinite duration. Trade secret protection is also available for a broad array of information for which patents are not available.

SUMMARY

Delaware has added two new sections to the General Corporation Law, effective August 1, 2009. While the legislature appears to be concerned about improving shareholder access to proxy materials, the effect of these changes may not be clear for a while.

SUMMARY

By an amendment effective August 1, 2009 to section 213(a) of its General Corporation Law, Delaware has provided a way for corporate boards to avoid a problem sometimes referred to as “empty voting.” The purpose of the change is to better align shareholders’ voting rights with their actual economic interests.

SUMMARY

Effective August 1, 2009, Delaware has amended section 145(f) of the Delaware General Corporation Law to address the problem created by the Delaware Chancery Court’s recent decision in Schoon v. Troy Corp., 948 A.2d 1157 (Del. Ch. 2008).

SUMMARY

The American Recovery and Reinvestment Act of 2009 has allocated approximately three quarters of a trillion dollars across a variety of industries and for a variety of purposes, some of which are well publicized and well known.  Included in this stimulus package is $4.7 billion for the Broadband Technology Opportunities Program (“BTOP”), which is to be managed and distributed by the National Telecommunications and Information Administration (“NTIA”) of the US Department of Commerce. These funds will be dispersed in three application tranches, with the first phase scheduled to be launched in May 2009. All monies must be disbursed no later than September 30, 2010, and projects must be capable of being implemented within two years after BTOP funding is awarded.

SUMMARY

Yesterday, the U.S. Citizenship and Immigration Services (“USCIS”) announced that the annual cap of 65,000 new H-1B visas has not yet been met and that it is continuing to accept new H-1B petitions. To date, USCIS has only received approximately 42,000 petitions to be processed under the new H-1B cap, plus approximately 20,000 additional petitions filed under the special cap for foreign workers with an advanced degree from a U.S. academic institution.

SUMMARY

The revised Form I-9, Employment Eligibility Verification (Rev. 02/02/09), goes into effect today for all U.S. employers. This form must be used for all new hires and for existing employees who require re-verification. Employers are not otherwise required to replace completed I-9 forms with the revised form.

SUMMARY

Included in this Issue:

• The End of Doom and Gloom by Dave Broadwin
  
• The Numbers by David Pierson
  
• Selected New England Series “A” Round Transactions: Fourth Quarter 2008
  
• Selected New England Series “B” and Later Round Transactions: Fourth Quarter 2008
  
• Terms of Selected New England Series A Rounds 2008
  
• Terms of Selected New England Series B and Later Rounds
  
• The Activity Level Summary
• New England Series A and First Round Transactions by Industry
• New England Series B and Later Round Transactions by Industry
• National Series A and First Round Transactions by Industry
• National Series B and Later Round Transactions by Industry
  
• Size of New England 2008 Series A and First Round Transactions by Industry
  
• Size of New England 2008 Series B and Later Round Transactions by Industry

SUMMARY

On April 1, 2009, the U.S. Citizenship and Immigration Services (“USCIS”) will begin accepting new H-1B petitions for employment commencing on October 1, 2009. For most employers, new H-1B petitions are subject to an annual limit of 65,000 new H-1B visas. An additional 20,000 visas are available each year to foreign workers with an advanced degree from a U.S. academic institution. The annual quota only applies to new H-1B visas, not to individuals who already hold H-1B status. Foreign nationals who work at universities and non-profit research organization are also excluded from the numerical cap.

SUMMARY

Included in this Issue:

• A Market Perspective – Justin J. Perreault, General Partner, Commonwealth Capital Ventures

• Selected New England “Series B” and Later Round Transactions
  Commentary from David Pierson

• Terms of New England Series B and Later Rounds
  Commentary from Bruce Kinn

• The Activity Level Summary - New England Series B and Later Round Transactions by Industry

• Size of New England 2008 Year to Date Series B and Later Round Transactions by Industry
  Commentary from Amanda Vendig

SUMMARY

Today the federal government agreed to further postpone implementation of the E-Verify requirement for federal contractors until May 21, 2009 at the earliest.

SUMMARY

Providing strategic advice and litigation services to our business clients nationwide

Our long-standing strength in representing employers in labor relations and employment litigation defense issues is complemented by our experience in dealing with the emerging issues confronting employers in the 21st century.

Our goal is to provide pragmatic business advice and a cost-effective approach aimed at helping our clients achieve results – prompting those clients to place our Labor and Employment lawyers at the top of the Chambers USA rankings for four consecutive years.

Topics include:

• Labor Law Strategies
• Wage and Hour Litigation
• Non-Competition Agreements and Related Issues
• Employment Discrimination and Harassment Litigation
• Wrongful Discharge and Other Disputes
• ERISA and Benefi ts-Related Litigation
• Business Immigration Services
• Preventative Counseling

SUMMARY

Included in this Issue:

• A Market Perspective by Carl Stjernfeldt

• Selected New England “Series A” Round Transactions - Third Quarter 2008
  Commentary from John Hancock

• Terms of Selected New England "Series A" Rounds 2008
  Commentary from Alex Aber

• The Activity Level Summary: New England "Series A" and First Round Transactions by Industry

• National "Series A" and First Round Transactions by Industry

• Size of New England 2008 Year to Date "Series A" and First Round Transactions by Industry
  Commentary from Dave Broadwin

SUMMARY

In response to a lawsuit brought by the U.S. Chamber of Commerce and other industry groups, the U.S. Citizenship and Immigration Service (USCIS) has agreed to delay the imposition of the E-Verify system on federal contractors until February 20, 2009. E-Verify is an automated, web-based system for verifying employees’ identity and their authorization to work in the United States. As we explained in our December 1, 2008 bulletin, a new federal rule would have required federal contractors to use this system beginning on January 15, 2009. However, USCIS has agreed to a one-month postponement so that the federal court can decide whether the recent lawsuit has any merit. The Chamber of Commerce and others allege that the executive order making the system mandatory is invalid and seek an injunction against enforcement of the rule. We will update you as the lawsuit progresses.

For more information, see our December 1, 2008 bulletin.

SUMMARY

Because many foreign citizens travel to the United States to visit family around the holiday season, we wanted to alert you to a change which will take effect on January 12, 2009. In the past, eligible citizens of designated visa waiver countries could apply at a port of entry for admission to the United States as a nonimmigrant for up to 90 days for business or pleasure without first obtaining a nonimmigrant visa. However, on January 12, 2009, the Department of Homeland Security will implement an electronic travel authorization system (“ESTA”). Under ESTA, all citizens of visa waiver countries who plan to travel to the U.S. without a visa will need to apply for an ESTA travel authorization prior to boarding a U.S.-bound airplane or cruise ship. As of January 12, 2008, visa waiver travel will not be permitted without such an advance travel authorization.