WWLR December 2017

DECEMBER 2017

Fashionising Intellectual Property We speak to Evelyn Dueñas – IP Lawyer at OMC Abogados & Consultores

Also in This Issue: Eight Easy Ways to Maximize Your Personal Injury Compensation

Welcome to the December edition of Worldwide Law Review, bringing you the current news, comment and industry insight on the legal sector.

In recent news, King & Spalding (in association with the Law Office of Mohammed Al-Ammar) acted as fund counsel to SEDCO Capital and Wasatah Capital. This was on the establishment of listed Saudi Arabian REITs, SEDCO Capital REIT Fund and Wasatah REIT, respectively, both of which were recently approved by the Saudi Arabian Capital Market Authority (CMA). Both REITs are expected to conduct a public offering and list on the Saudi Arabian Stock Exchange in early 2018.

In this month’s issue, Michael Brown is an experienced law marketing specialist working with Ahlawat & Associates. He explores the impact of M&A transactions on firms and how they can work around the challenges it brings.

Elsewhere in this edition, we look at how security concerns along with costs and commitment are holding back over half of organisations looking to implement IoT projects according to Wi-SUN Alliance research.

Lastly, a new Holland & Knight study links CEQA Litigation abuse to California housing crisis. The study, “California Environmental Quality Act Lawsuits and California’s Housing Crisis,” analyses all CEQA lawsuits filed statewide between 2013 and 2015 and reveals that housing remains the top target of CEQA lawsuits.

Here at Worldwide Law Review, we truly hope you enjoy reading this informative edition, and we wish you a Merry Christmas and a Happy New Year!

Jessica Daykin, Editor AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them.

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Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility.

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Contents.

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OMC Abogados & Consultores Fashioning Intellectual Property Eight Easy Ways to Maximize Your Personal Injury Compensation Law Office of Howard N. Sobel New Rules Could End Gig Economy Three Steps to Becoming a Lawyer in the US How Much in Housing Crisis to Blame for CEQA Litigation? Holland & Knight Security Key Concern in Implementing IoT For Many Firms How Mergers and Acquisitions Affect Companies Ten Quick Tips on How to Find a Divorce Lawyer Medical Cannabis Sales Increase as Legalization Spreads in the USA Cryptocurrency Market Continues to Show Growth How Financial Planners Can Fight Elder Abuse

DECEMBER 2017 Page 3

NEWS

Blake Morgan Appoints New London Banking And Finance Partner Law firm Blake Morgan has appointed an experienced new partner to further strengthen its Banking and Finance offering in the London market.

Blake Morgan Appoints New London Banking And Finance Partner, Meera Jansen, a specialist finance lawyer to the London market.

Meera Jansen, a specialist finance lawyer, brings a broad range of expertise in all aspects of debt financings, funds finance, leveraged finance, real estate finance, general corporate finance, asset backed lending and more.

Her experience spans various multi-jurisdictional acquisition finance transactions, cross border equity bridge transactions, development finance transactions and all aspects of insolvency and restructuring.

Joining from London firm Brecher, Meera has over 20 years’ experience in law, including time at the

Royal Bank of Scotland on secondment. Recent achievements include establishing a banking practice at a previous firm and acting for major banks in relation to high value financing of real estate and investment property.

and Finance team at Blake Morgan, said: “Meera’s broad expertise and client following makes her an excellent addition to our team of leading banking and finance lawyers, and will further strengthen our offering in the London market.

I am delighted to welcome her to the team.”

She will join Blake Morgan in its New Street Square offices and will be a key figure in the Banking and Finance team’s future plans, alongside a team of specialists highly regarded for their work across a range of sectors, on transactions from the simplest to the largest and most complex.

Meera said: “Blake Morgan has an excellent reputation in banking and finance law, and offers a first class service to clients. I am very much looking forward to joining a firm with such a strength and depth of expertise, and contributing to its further success.”

Kath Shimmin, Partner and Head of the Banking

Blake Morgan’s highly regarded Banking and

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Finance team act for lenders (including major UK banks) and borrowers, on mid-tier corporate transactions.

Ranked highly in legal directories, the team has an excellent reputation in retail banking, insurance regulation, general investments, compliance and consumer credit issues.

Advising funders, lenders and borrowers in all types of financing transaction, their specialists offer fast, expert advice on all aspects of lending, security, product development and financial regulation.

NEWS

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King & Spalding Advises SEDCO Capital and Wasatah Capital on Recent REITs King & Spalding (in association with the Law Office of Mohammed Al-Ammar) acted as fund counsel to SEDCO Capital and Wasatah Capital on the establishment of listed Saudi Arabian REITs, SEDCO Capital REIT Fund and Wasatah REIT, respectively, both of which were recently approved by the Saudi Arabian Capital Market Authority (CMA). Both REITs are expected to conduct a public offering and list on the Saudi Arabian Stock Exchange in early 2018.

Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,000 lawyers in 20 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to

understanding the business and culture of its clients.

SEDCO Capital REIT Fund is a Shari’ah-compliant real estate investment fund that will invest in a diverse portfolio of income-producing properties in Saudi Arabia. The REIT expects to raise 650 million Saudi Arabian riyals (approximately US$173.5 million). SEDCO Capital is the CMA-regulated subsidiary of Saudi Economic and Development Company (SEDCO) and one of the leading asset managers and private

equity firms in the MENA region.

SEDCO Capital is known for its real estate and private equity funds and capital markets transactions.

Wasatah REIT is a Shari’ahcompliant real estate fund that will invest in hospitality incomeproducing properties in Saudi Arabia, including the Mövenpick Hotel in Riyadh. The REIT expects to raise approximately 1.1 billion Saudi Arabian riyals (approximately US$295 million).

Wasatah Capital is one of the most active asset management

firms in Saudi Arabia and currently manages a diverse portfolio of real estate and private equity funds.

The King & Spalding team on the matters was led by partner James Stull and included partners Nabil Issa and Moustafa Said as well as counsel Mohammad AlAmmar, senior associate Macky O’Sullivan and associates Sayf Shuqair, Faris Al-Louzi and Bader Al-Ammar.

DECEMBER 2017 Page 5

OMC Abogados & Consultores

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Fashionising Intellectual Property The fashion world is present in all aspects of everyday life, from the clothes or shoes we choose to go to work, study or attend an important event, according to Bárbara Pardo Navarro, fashion is 1“one of the artistic activities with the most social movement that exists today, (...) [based on] an aesthetic and expressive beauty, characteristic of which the fine arts deal with”. Also, the author cited Enrique Loewe, who mentions that “fashion was always a mirror of society at a particular time. So if someone in two hundred years would like to analyze society at this time, the best method would be to study fashion, much more than through monuments “ (Pardo 2008: 10).

Fashion reinvents itself, changes and meets the standards of each society as well as technological changes and if we focus on Peruvian society, the fashion industry grows every day and a proof of this is the success of great designers who have been able to demonstrate their creations not only at a national level but also at an international level, carrying out important fashion events, among which Lima Fashion Week - LifWeek and Peru Moda stand out, in which all kinds of designs are exposed, creating a space for the development of the creativity of national designers as well as

for international designers who seek in our country the suitable market to commercialize their trademarks.

It is inevitable to mention big trademarks when we talk about fashion and this is due to the great role played by them being the main identification card at the time of commercializing a product, these great trademarks that previously seemed inaccessible are increasingly closer to the public consumer due to the so-called “fashion democratization” in which the clothing and accessories of highcost designers or world-famous trademarks are accessible to all public because trademarks

or designers create alliances with multi-brand or department stores, these collections receive the name of capsule collections and they are of limited edition generating a high demand. The democratization of fashion has brought benefits for all the parties involved, the first beneficiary is the store due to the large number of people who purchase the product, the second beneficiary is the trademark or the designer who benefits from the marketing or the advertising carried out by the store and also by the customers who attend the stores and finally the consumer who will buy a product from a designer or a high cost trademark at a reasonable price.

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Author: Evelyn Dueñas – IP Lawyer Law firm: OMC Abogados & Consultores Web Address: www.omcabogados.com.pe Address: Av. 28 de Julio # 562 Edificio “ E “ Miraflores.

Lima 18 – Peru Telephone: 511 628 1238 Fax: 511 628 1241

DECEMBER 2017 Page 7

OMC Abogados & Consultores

It is perhaps the importance of Trademarks to commercialize a product in the world of fashion or the desire to bring the big trademarks to the public consumer added to the lack of creativity or originality which generates clear examples of plagiarism or trademark piracy, among which we can Cite one of the most important trademarks of sportswear, the swoosh design by Nike Innovate CV, a well-known trademark, recognized in different Resolutions of INDECOPI, in which a considerable amount of oppositions and nullities have been filed against the trademark pirates of this famous and well-known trademark that have unscrupulously sought to copy the characteristic design through the following trademarks: (File Nº 550432-2013), (File Nº 5596572014), (File Nº 495090- 2012).

Another case in which there is a clear example of piracy that could be quite common in the Peruvian market is the imitation of the trademark of the polo player that belongs to the company The Polo / Lauren Company, L.P: whose design has sought to be reproduced in the following trademarks: (File Nº 5643712014), (File Nº 538693-2013), (File Nº 594519-2014).

Although there is a constant risk of entrepreneurs taking ownership of designs or trademarks of designers, many of them do not protect their designs either because they are unaware of the forms of protection offered by the national legal system or because they can not access because costs or other factors. Thus, after reviewing the key concepts and analyzing the main obstacles in the world of fashion, it is essential for this article to provide a clear scope regarding the forms of protection that designers have regarding their creations.

In Peru, we have a protection regime called “cumulo total” in which copyright and industrial property stands out, as far as copyright is concerned, it is pertinent to refer to Legislative

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Decree No. 822, the Copyright Law, which points out in subparagraph a) of article 4 that “The copyright is independent and compatible with the industrial property rights that may exist about the work” and in subparagraph f) of article 5 which expressly states that the applied Works of art are protected , defined as “an artistic creation with utilitarian functions or incorporated into a useful article, being a work of craftsmanship or produced on an industrial scale” (subsection 20 of Article 2 of the Copyright Law).

Likewise, the Intellectual Property Chamber of INDECOPI ruled on a case related to models of sweaters, making it clear that fashion designs could obtain protection by copyright. In the Resolution N ° 063-2001 / TPIINDECOPI, about complaint for infringement to the author’s rights the following was indicated: “Applied works of art include both dimensional forms (such as drawings) and three-dimensional ones (such as models).

Considering the characteristics of the applied works of art, it is possible that said works can also be protected as industrial designs, to the extent that they comply with the requirements demanded by the law of the matter. (...) National legislation does not contain a rule that prohibits providing this double protection to applied works of art, so it can be understood that it is possible to invoke it. However, this does not mean that any work of applied art also enjoys protection as an industrial design or vice versa, since it may be the case that an applied work of art has been made accessible to the public, losing therefore the novelty required by the industrial property law to protect an industrial design”.

On the other hand, the importance of the protection of fashion designs is such that the Directorate of Copyright of Indecopi has created a “Guide to Copyright in the Fashion

Industry” (Indecopi 2013), which aims to provide more information according to the needs of each sector in the industry, but as has been established in the aforementioned guide, the creations or designs of fashion are not only protected in terms of copyright but also 2as industrial design (for example the design of a certain fabric pattern presenting a monogram): To the extent that this type of work is a twodimensional or three-dimensional creation that can be incorporated into fashion creations and then produced on an industrial scale .

For example, the pattern design of the GUCCI trademark will be protected, but not the model or design of the fashion item itself.

Another form of protection and on which we will focus is the protection as a distinctive sign either through a trademark or logo, what is sought here is to protect the trademark or logo registered before the Direction of Distinctive Signs of INDECOPI but the protection is not provided with respect to the garment to which such trademark or logo is applied.

Trademark protection becomes the most recurrent medium for designers According to professors Raustiala and Sprigman, “trademarks help maintain the premium prestige of different trademarks, and can be very valuable for clothing companies and accessories. The fashion industry invests heavily in pursuing the unauthorized uses of its trademarks “. In the same sense, Dr. Susan Scafidi, specialist in the fashion law área states that “the most universally applicable and flexible protection mechanism for fashion designs is that of the law of registered trademarks. Whether on an interior label or on the exterior element of a design, virtually all clothing objects incorporate a trademark in some form. The ease of trademark registration (...) ensures that virtually all designers have access to the protection of their names and logos attached to their products.“

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OMC Abogados & Consultores

On the other hand, the following is stated in the WIPO Magazine: “instead of protecting designs, most fashion designers prefer to rely on their trademarks, applied directly to their products and which are usually protected by the legislation relating to trademarks.

Trademarks make it easy for designers to detect imitations and help consumers identify their favorite items “(WIPO 2008).

Taking into account the importance and preference of designers regarding the protection of their creations as a distinctive sign, it is appropriate to focus on the existing forms of trademark protection among which we find: • Registration of fashion trademarks: According to Article 134 of Decision 486 of the Andean Community, corresponding to the Common Regime on Industrial Property in Peru and the other countries of the Andean Community, there are several objects that can be registered as trademarks, being that Companies or designers can request the registration of word or figurative trademarks.

The applications can be regarding: - Designers name or pseudonym - Logotypes that are included in labels or images that will be placed on fashion products - A fashion line or a collection • Registration of fashion design as a trademark: Two-dimensional or threedimensional trademarks are a clear example of this type of design. It is necessary to mention that to access the registration of a two-dimensional or three-dimensional trademark, it is necessary that the design that is intended to be registered corresponds to a specific business origin, this absence of necessary attributes that give distinctiveness has been

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grounds for denials regarding some trademarks that were intended to be registered in class 18 and 25, where the following was argued: “It is not endowed with the necessary attributes to be the means by which the products that intend to distinguish are identified and differentiated from the others that are offered in the market, since such figure will not be perceived by the consumer as a distinctive sign of a certain business origin, while it does not have any peculiar characteristic whose sole presence allows the consumer to determine the business origin of the products that intends to distinguish.”3 Another classic example of this type of records corresponds to the costumes as well as the soles of footwear registered as a trademark in class 25, which present a special design that makes them different from each other.

We can not ignore also one of the most emblematic cases corresponding to the ADIDAS trademark where it was intended to record the characteristic design of the three lines in a shirt and trousers in class 25, a record that was subsequently granted by resolution No. 2054 -2015 / TPIINDECOPI and N ° 2055-2015 / TPI-INDECOPI since, according to the evidence presented, it was determined that the public consumer could associate the aforementioned design with the applicant company and differentiate the product from others that are commercialized in the market, being the case in addition that the aforementioned product acquired distinctiveness due to its constant use in the market.

Finally, it is important to mention the products in the world of fashion because they are in different classes in a dispersed way, for example, the soaps or perfumery products are found

in class 03; articles of jewelery, costume jewelery, precious stones are found in class 14 or imitation leather and leather as well as animal skins; they are included in class 18; in the case of clothing, footwear, headgear, these are classified in class 25, however, it should be noted that as stipulated in article 151 of Decision 486: “(...) classes of the International Classification referred to in the previous paragraph will not determine the similarity or dissimilarity of the products or services expressly indicated.”

Taking into account the aforementioned , Indecopi uses linking criteria when issuing a resolution, there have being cases in which the products of class 25 and class 14 have been linked, for example in the case against EBEL, L’EBEL and others (Resolution No. 1140-2014 / TPIINDECOPI) or in the case of the trademark against BILLABONG and others (Resolution No. 114-2009 / CSD-INDECOPI) where the link was made with respect to the products of class 25 and 18, For this reason, trademark applicants must take into account that the trademark they wish to register for their product line is not registered or has been used for a class other than class 25 and with which a connection or link can be appreciated as described above.

By way of conclusion we can state that the fashion industry has evolved considerably in our country and has positioned itself as one of the most important, fashion is synonymous of creativity, creation and innovation and it is essential that those who are involved recognize the law and more specifically to Intellectual Property law as the ideal means to protect their creations either by registering their trademark or protecting their copyrights, among others, which would bring multiple benefits and prevent further cases of piracy or plagiarism.

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1. https://riunet.upv.es/bitstream/ handle/10251/13635/La%20 moda.%20Arte%20e%20 influencia%20artistica. pdf?sequence=1 2. file:///C:/Users/User/ Downloads/GDA_ IndustriaDeLaModa.pdf 3. Resolución N° 16543-2010/ DSD-INDECOPI.

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Eight Easy Ways to Maximize Your Personal Injury Compensation

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Eight Easy Ways to Maximize Your Personal Injury Compensation Howard Sobel explores the do’s and don’ts of claiming personal injury compensation and how to maximise your pay-out.

In PA, most of our clients don’t seem to be loaded and are suffering serious monetary issues due to their accident. A money settlement from the negligent party is their sole hope to pay their medical expenses and supply for themselves and their family till they’re ready to come back to figure for personal injury lawyer in PA and areas.

maximize your personal injury compensation: 1. Preserve Evidence:

The court is going to decide about your case by going through the evidence. Not only you but even the alternative party has the right to decide whether you are eligible for a fair compensation based on the strength of your case. This simply means the more evidence you have; you can prove the court A professional and expert personal about your case and the chances injury lawyer PA would gather the for winning in your case increases. resources and evidences that would be crucial in proving your Try to take photographs of the claim, and they will try to negotiate accident scenes and you’re the the best compensation for your injuries if you’re able to or you can case. ask to any of your relatives. Also, it’s important to get information However, here are some important from the police and witnesses steps as for how you and your about the accident as soon as attorney together can take up to possible. Not only you but your maximize your compensation: attorney has to work harder than you to gather all the important and • Easy Ways to maximize your necessary documents, evidence personal injury compensation: and information so to prove your case strong.

Once you choose to file a lawsuit for your personal injury claim, you 2. Get medical treatment: wish to try and do everything you can for maximizing your potential For winning your personal injury compensation. The main part of case, you require having proper creating a full recovery is making medical reports and documents. certain you have got adequate The documentation will encourage compensation to try and do so. the other party to offer you a higher settlement. Even if you’re Here are some easy ways to unsure about the injury it is

advisable for you to get medical treatment. As the doctor, would guide you to get necessary physical therapies, treatments for post-traumatic stress during your accident.

telling him/her to fasten the process because at the end you might be at loss.

3. Value your claim fully:

When you get an insufficient settlement offer, you can explain to the other side why it’s unacceptable, with documentation that reinforces your allegations.

Having unnecessary assumptions would do no good to you, so take that thing out of your mind that you are limited to any type of damages. There are various types of damages you are suffering because of your injuries and you don’t have any idea about it.

Therefore, you can claim monetary funds for the loss of your regular body functions and even emotional damages. They act as an addition to recover your out-of-pocket losses. And important thing consults an experienced PA personal injury attorney to evaluate the categories of damages and claim maximum compensation.

You shouldn’t hurry, maybe hurrying up would give you the compensation for that time, but you might lose to get other compensation for other damages that you can’t seek overtime.

To get the best, it’s better to be patient and completely understand your case. And hence let your attorney do his work rather than

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5. Explain why the offer is inadequate:

The rejection of your settlement would show that you’re committed to getting the deserved compensation for your loss. A lawyer would help you better in going through such difficult situations, and provide you right documentation and evidence to strengthen your case.

6. Don’t forget future damages: Personal injury brings losses both in present as well as future. You might not even be fully recovering, but your case has already been going through the trial.

Therefore, it is important to make considerations about your future considerations while negotiating the settlement amount.

Ask your attorney whether you can include your future damages as part of your claim because, in some states, the future damages do compromise a majority of your

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Company: Law Office of Howard N. Sobel Web Address:http://www.sobellaw.com/ Address: 507 Kresson Rd, Voorhees Township, NJ 08043, USA Telephone: (856) 424-6400

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losses. Your attorney would make sure you do not loose on getting fair amount for your future of as well.

7. Don’t wait to file your case: After the statute of limitations expires, you may not be able to recover at all; hence it is necessary for you to bring your case to notice at earliest.

You should be preserving your evidence and gather all together and proceed further with the help of your attorney.

This would build an impression about you in the court that you’re very serious about the case and you no matter what will not keep quiet until you receive what you deserve and what is best for you.

8. Stay off socials: Social media has turned out to act as an effective evidence for personal injury cases. As one example would be where you’re claiming for devastating injuries, but your Facebook page tells a different story, it can ruin your case; like you have updated something else which would be a negative point for you. So it is best not to tell or update everything on social, and if you are doing be careful enough.

Like you watching the other party, remember even they’re tracking about your doings, so take step wisely. Ask your attorney as what to do; they’ll give you detailed required guidance.

• Compensation you deserve for your personal injury case in PA: The first question our clients raise throughout our initial consultation conferences is mostly the same: “How much compensation can I get for my personal injury case?”

This is absolutely intelligible.

Unfortunately, there is no particular answer to this question.

Despite what you’ll have detected, there’s no “magic formula” for decisive the number of

compensation you owe for your injuries. Each personal injury case is exclusive, and there are varieties of variables that may verify the ultimate quantity of your settlement. It might be immature to induce a client’s hopes up with unrealistic expectations.

Here I can discuss the main points for your case that can give you the idea about the proportion of compensation: 1. If you’ve been hurt as a result of somebody else’s negligent actions, you’ve got a right to seek compensation for your injuries.

The amount of compensation you receive for your personal injury case can depend upon 2 things: proving liability and your damages the costs related to your injuries.

2. After an accident, you’ve got 2 choices. First, you’ll settle for the initial settlement offered by the insurer. This is often quick cash; however, can it totally compensate you for the long-terms prices of your injuries?

3. Your second possibility is to retain the services of a knowledgeable personal injury lawyer. It should take longer, however can in all probability yield higher results. They’re acquainted with the numerous factors which will have an effect on the amount of cash you collect for your settlement, such as: • Implementing debt and negligence • The impact and severity of your personal injuries which will have an effect on your life for particular duration • The financial costs for medical treatments • Your incapability of earning for a time period and its duration • The capacity of the responsible parties for your loss.

A professional and expert personal injury lawyer would gather the resources and pieces of evidence that would be crucial in proving your claim, and they will try to negotiate the best compensation for your case.

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DECEMBER 2017 Page 15

New Rules Could End Gig Economy

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New Rules Could End Gig Economy Long-term gig workers could benefit from over £22,000 in employer pension contributions if granted employee status.

Gig economy workers wrongly labelled as self-employed could be missing out on over £22,000 in employer pension contributions, according to research by the Pensions Policy Institute (PPI) for Zurich. The new analysis comes as MPs suggested some gig economy firms could be exploiting loopholes in employment law leaving gig workers classified as self-employed without access to workplace benefits.

Based on UK-wide analysis of more than 600 individuals currently working in the gig economy, the study found that a typical worker aged 25 earning £25,000 per year could receive a total of £22,200 in employer contributions[1] by the time he or she retires if they were autoenrolled into a workplace pension.

This would mean the current system of auto-enrolment would be extended and gig companies would be required to contribute to the pensions of those working for them. The calculation is based on the minimum auto-enrolment contribution from the gig company, which in the long term is 3% of

applicable salary – and would be higher if the Government elected to remove salary band restrictions in its review of auto-enrolment.

The findings follow the announcement last week from The Work and Pensions Select Committee and the Business Select Committee that a draft Bill has been drawn up which would make ‘gig’ companies pay holiday and sick pay, realising that the labour market is “not working for everyone”. Earlier this year, the Government-commissioned review of employment practices[2] led by Matthew Taylor, recommended a new status for gig workers as ‘dependent contractors’, an alternative worker status that would require gig companies to treat those who worked for them as employees.

It also proposed enabling individuals to put aside 4% of their income when completing tax returns, an alternative form of auto-enrolment that would encompass more people.

The ‘Restless Worklife’ study with Zurich and the PPI therefore tested two possible policy changes: the first, if gig workers

could be auto-enrolled into a workplace pension as per the current system and the second, the 4% contribution through selfassessment recommendation.

The study found that this typical worker earning £25,000 could end up with a final pension pot of £77,600 if he/she had been auto-enrolled into a workplace pension which, when added to the State Pension, could give him/her an income per year of £13,600 at retirement.

If the Taylor review recommendation of enabling individuals to put aside 4% of their income when completing tax returns was applied, a typical worker could end up with a final pension pot of £75,600 at retirement. When combined with the State Pension, this would equate to an income at retirement of £13,500. This approach would be more beneficial to those who are self-employed in the true sense of the word and have no access to an employer of any kind.

Chris Atkinson at Zurich UK, said: “Employment law is lagging

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far behind advances in working practices, which is leaving some people in the gig economy at risk of being denied basic rights.

Clearly defining the status of gig workers will ensure that those who should rightly be defined as employees do not miss out on valuable workplace benefits, including the opportunity to save into a company pension. That said, there are still millions of gig workers who have no access to a workplace pension because they are self-employed in the truest sense of the word. For that reason, the Government should also extend auto-enrolment through the self-assessment tax process, to ensure nobody is excluded from the chance to build a nest egg for retirement.”

older gig workers: Gig workers – along with regular employees – will be forced to work longer before they can afford to retire. We therefore need to consider what challenges older workers face but also how we can support employers to take on an ageing gig workforce •

Introduce financial incentives for gig companies to offer Income Protection.

The Government should consider tax or National Insurance incentives to encourage the provision of Income Protection within the workplaceMore financial education from gig companies to increase awareness among workers of existing savings and protection products

•

Greater innovation from the insurance industry to develop more flexible savings and protection products for workers unable to commit to paying a regular subscription.

Key recommendations from Zurich to reduce the risk of a gig economy long-term savings and protection crisis: •

Expand auto-enrolment to the self-employed via the self-assessment tax return process. Employee contributions to be initially set at 4%, increasing to 8% when appropriate to avoid triggering a mass ‘opt-out’

•

Commission a Government Review of employment and working practices for

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Three Steps to Becoming a Lawyer in the US

Three Steps to Becoming a Lawyer in the US Matt Barnard explores the steps needed to become a lawyer in the US and the challenges potential lawyers face.

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, Becoming a lawyer in the United States is a long process.

While each state has its own rules for becoming a lawyer, there are a few big steps that every state agrees must be completed to do so: going to college, going to law school, and passing the Bar Exam. Here are three of the most important steps you need to consider if you want to become an attorney.

1. Go to College Before you can go to law school, you must go to college. Your undergraduate GPA is one of the most important factors that law schools will consider when you apply for admission, so you should do your best throughout your college career if you hope to go to law school. Law schools don’t require you to major in a particular subject while at college, but some common majors for those planning to attend law school include justice studies, political science, and English.

Your college may also offer a prelaw specialization, which can help prepare you for law school.

2. Go to Law School After college, you will have to go to law school. Law school offers a three-year course of study in the law. But just as you had to take the ACT or SAT to get into college, you must take the Law School Admissions Test (LSAT) to get into a law school.

Some law schools have started accepting GRE test scores, but most still require an LSAT score.

You should be sure to set aside plenty of time to study for the LSAT, because that’s another of the most important factors law schools will be looking at. At the very least, you should purchase an LSAT study guide, but you may also want to go one step further and take an LSAT prep course.

they will provide: the median undergraduate GPA and median LSAT score of their entering class and historical Bar passage rates.

Those GPA and LSAT statistics will give you an idea of how you compare to the students that the school admits. Historical Bar passage rates will give you an idea of how well the law school prepares its students to pass the Bar. Surprisingly, not every law school does a good job at that, so do your research. Law school rankings are also important, but keep in mind that they are national rankings. Low-ranked schools may still prepare you to pass the Bar, and they may enjoy a better reputation regionally than they do nationally.

3. Pass the Bar Even graduating from law school doesn’t make you a lawyer. After four years of college and three years of law school, you will finally be able to take the Bar Exam. The Bar Exam is a multi-part test that you will take over two or three days. It can include questions from any field of law, so you should prepare for it by taking a Bar review course. These courses will help refresh your memory about what you learned during law school, and you take them after graduating from law school but before taking the Bar. None of the above steps is easy, and from start to finish, we’re talking about more than seven years of your life. So, choosing to become a lawyer isn’t a decision you should make lightly. Weigh these three steps carefully when thinking about your career options.

When you’re choosing which law schools to apply to, pay attention to three statistics that

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How Much in Housing Crisis to Blame for CEQA Litigation?

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How Much is Housing Crisis to Blame for CEQA Litigation?

New Holland & Knight Study links CEQA Litigation abuse to California housing crisis.

Litigation under the California Environmental Quality Act (CEQA) is worsening the state’s housing crisis, according to a new study by Holland & Knight. The study, “California Environmental Quality Act Lawsuits and California’s Housing Crisis,” analyzes all CEQA lawsuits filed statewide between 2013 and 2015 and reveals that housing remains the top target of CEQA lawsuits.

It was published in the Hastings Environmental Law Journal and is available here.

The new study uses the same methodology as Holland & Knight’s earlier three-year study (2010-2012) of statewide CEQA litigation. All CEQA petitions must be sent to the California Attorney General’s office, and the firm was able to obtain copies under the California Public Records Act. The top target of CEQA lawsuits in both studies were housing projects, with an increase in the share of CEQA lawsuits shown in the new study. The study also includes a more detailed review of challenged housing projects in the Southern California region (Los Angeles, Orange, Ventura, Riverside, San Bernardino and Inyo counties): 14,000 housing

units were challenged, 98 percent of the challenged units were located in existing community infill locations, 70 percent were located within one-half mile of transit services and 78 percent were located in whiter, wealthier and healthier areas of the region.

“Given California’s extraordinary housing crisis and the shame inherent in having the nation’s highest poverty rate in one of the world’s most successful economies, our latest research clearly demonstrates the need to update CEQA’s litigation rules to bring enforcement of the law into alignment with the state’s environmental, equity and economic priorities,” said Jennifer Hernandez, the head of Holland & Knight’s West Coast Land Use and Environment Group. “CEQA is one of the well-recognized culprits in California’s housing supply and affordability crisis. The need to update CEQA litigation rules to end non-environmental abuse of this important California law is stronger than ever.”

According to the latest findings, the disproportionate use of CEQA to target housing, especially apartments and condominiums, not only constrains supply, it also perpetuates land use segregation by race and class. California

communities have a long history of resisting higher density housing that is affordable to workers earning lower wages, especially workers from minority groups such as African Americans, Latinos and Asians. CEQA elevates this legacy bias to the environmental “baseline” against which new housing proposals are all assessed as “impacts” to the environmental character of these communities. Under CEQA’s existing lawsuit rules, anyone can sue – anonymously and repeatedly – to challenge new housing, transit, infrastructure and public service plans and projects that change existing neighborhoods.

•

The majority of challenged housing projects were structures containing multiple housing units such as apartments and condominiums, which are located in more urbanized areas in regions with higher population densities and more high wage jobs.

•

The Bay Area and Los Angeles region accounted for 58 percent of all CEQA lawsuits filed, up from 53 percent in the initial study.

The study also notes that longer commutes by people forced to live greater distances from the coastal jobs centers with the most severe jobshousing imbalances actually increased transportationrelated air pollution and greenhouse gas emissions.

•

The percentage of CEQA lawsuits against new privatesector housing projects also increased to 25 percent from 21 percent during the previous three-year period, even as California’s housing shortage reached crisis dimensions.

Additional key findings include: •

•

After the Great Recession, even more CEQA lawsuits target projects in existing communities, especially housing.

Overall, the number of CEQA lawsuits aimed at infill projects in existing communities jumped 7 percent, from 80 percent to 87 percent. Lawsuits targeting greenfields fell to 12 percent of CEQA lawsuits • statewide.

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The next largest category of CEQA lawsuit challenges were agency plans and

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How Much is Housing Crisis to Blame for CEQA Litigation?

New Holland & knight Study links CEQA (California Environmental Quality Act) Litigation abuse to California housing crisis.

Company: Holland & Knight Web Address: https://www.hklaw.com/ Address: 400 South Hope Street, 8th Floor, Los Angeles, CA 90071 Telephone: 213 896 2400 Fax: 213 896 2450

DECEMBER 2017 Page 23

regulations, primarily local agency plans to increase housing or improve and diversify transportation and infrastructure, accounting for 19 percent of the total.

•

Rounding out the top three CEQA lawsuits targets at 15 percent were public service and infrastructure construction projects – taxpayer-funded projects that were mostly located within and designed to serve our existing communities.

The study recommends updating CEQA’s lawsuit rules to help solve the housing and poverty crisis, while continuing to meet the environmental and climate policy objectives of encouraging higher density, transit-oriented communities. These reforms include: •

End anonymous CEQA lawsuits by requiring disclosure of the identity and environmental (or nonenvironmental) interests of those filing CEQA lawsuits.

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Eliminate duplicative lawsuits aimed at derailing plans and projects that have already completed the CEQA process.

•

Expand legislative relief from CEQA lawsuit delays beyond politically favored projects like sports arenas and instead more broadly limit the judicial remedy of vacating project approvals if a CEQA study is deficient to projects that actually could cause harm to the natural environment or public health.

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Aerial view of dense neighborhoods in Los Angeles County California DECEMBER 2017 Page 25

Security Key Concern in Implementing IoT For Many Firms

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Security Key Concern in Implementing IoT For Many Firms Security concerns along with costs and commitment holding back over half of organisations looking to implement IoT projects according to Wi-SUN Alliance research.

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, While the majority (94%) of IT professionals from organisations that are undertaking Internet of Things (IoT) initiatives say they need to invest in IoT over the next 12 months in order to stay competitive, most admit they have encountered barriers to adoption. These mainly include security concerns, the cost of implementation and commitment from the company’s leadership.

The findings are part of a major new report released today by the Wi-SUN Alliance, a global member-based association driving the proliferation of interoperable wireless solutions for use in smart cities, smart grids and Industrial IoT applications.

The research, looking at attitudes to IoT, including the drivers, barriers, challenges and benefits, surveyed 350 IT decision makers in the UK, US, Sweden and Denmark. While all respondents come from organisations that are investing in at least one IoT initiative, just over half (51%) report that they have a fully implemented IoT strategy in place, while more than a third (36%) have one being rolled out.

While enabling IoT is the second most important IT priority for the next 12 months, only just behind improving security, almost all respondents (90%) have struggled to implement a plan, with over a third (36%) saying they find it “very or extremely difficult”.

Commissioned by the Wi-SUN Alliance, the research was carried out by Vanson Bourne, an independent specialist in market research for the technology sector, in October and early November 2017. Interviews were done online and via telephone among 350 people in the UK, US, Sweden and Denmark. Respondents came from organisations that were at some stage of implementing at least one IoT initiative; specifically smart cities, smart utilities, or industrial IoT. Respondents were IT decision makers within their organisations and have some level of involvement with their organisation’s IoT initiatives.

Security tops the list of major concerns, holding back nearly six in ten (59%), while cost of implementation is also a barrier, delaying around half (46%). More worrying is that while 42% say that creating efficiencies for the business is an important driver to implementing IoT initiatives and 37% say the same for reducing operational costs, getting access to funding for projects is a problem, with a third (32%) admitting this is a barrier. The same amount struggle because of reluctance by senior executives in the organisation to commit to IoT projects.

As well as barriers, the research also highlights technical challenges that organisations are facing when delivering on IoT initiatives and processes. Security and safety tops the list at 63%, while data management (46%), network configuration (41%) and recruiting the right IoT skills and resources (39%) are also seen as technical challenges.

For implementation of smart city and smart utility solutions, proven security with multi-layer protection and continuous monitoring is considered ‘absolutely crucial’ for around half of respondents, while industry-wide open standards are also crucial (45% and 43% respectively).

of IoT projects, especially around smart cities and smart utilities, there are a number of issues that organisations are having to contend with and security is proving to be a particularly significant barrier,” according to Phil Beecher, President and CEO, Wi-SUN Alliance.

“The research highlights that more education is needed: there are many network options, but not all provide the features necessary for large-scale outdoor networks, as required by smart cities or utilities. For instance, unlike tower-based networks, such as LoRa, SigFox, Ingenu and NB-IOT, Wi-SUN Field Area Network (FAN) specifies a wireless mesh network, which not only supports higher data rates and bi-directional data transmission, but can also provide complete coverage with greater resilience and reliability. Wi-SUN FAN networks are also highly secure as only “vetted” devices can join the network, preventing compromised devices from causing disruption of essential services that may include public safety. It is essential that organisations understand the level of security and the associated risks provided by different network solutions, and choose the very highest security levels available for their IoT networks.”

The Wi-SUN Alliance, that commissioned the research, is a global non-profit member-based association comprised of industry leading companies. Its mission is to drive the global proliferation of interoperable wireless solutions for use in smart cities, smart grids and other Internet of Things (IoT) applications using open global According to the Wi-SUN research, standards from international when organisations are evaluating standards organisations, such as IEEE802, IETF, TIA, TTC which IoT technology to move forward with, 58% look for network and ETSI. With more than 170 members worldwide, membership topology and coverage, while of the Wi-SUN Alliance is open communications performance to all industry stakeholders and (53%), industry standards support (52%), and power efficiency (50%) includes silicon vendors, product vendors, services providers, are also sought after. Around utilities, universities, enterprises half look for reliability (47%) or and municipalities and local scalability (44%). government organisations.

“When it comes to the design, development and implementation The benefits of IoT are also widely recognised, with the majority of respondents citing better business efficiency (54%), improved customer experience (49%) or better collaboration (48%). Nearly half (45%) have seen lower costs and 41% higher customer satisfaction.

DECEMBER 2017 Page 27

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How Mergers and Acquisitions Affect Companies

How Mergers and Acquisitions Affect Companies Michael Brown is an experienced law marketing specialist working with Ahlawat & Associates. He explores the impact of M&A transactions on firms and how they can work around the challenges it brings.

Mergers and acquisitions keep happening in the corporate world. Both of these two activities are often construed as the magic elixir that will enhance the prestige of a newly formed company, grow sales and save cost up to a great extent through synergies.

However, Mergers and acquisitions are just like gambling.

A lot of risks are involved in it and you can’t foretell the size of return in advance. If you don’t handle it carefully, it can even backfire and may result in more cost than projected. It can even damage the company completely.

So, the biggest question is how Mergers and acquisitions affect a company? Let’s have a look at some points mentioned here below1. They Become Bigger In Size Many companies agree to M&A to grow their size and become bigger compared to their rivals. It may take several years to double or triple the size of a company through organic growth. But, if two different companies are combined into one, the value of a new company may overcome several small companies available

in the market. In such a case, both companies are benefited hugely from the additional value.

2. Synergy The main motive of a merger or acquisition is to increase the performance of a company for its shareholders with the help of synergy. Actually, it’s a concept which illustrates that if performance and the value of the two companies are combined, their output will always be bigger than the subtotal of the separate individual parts. In simple words, two business organizations can generate more revenues jointly than it could be fetched if they worked independently. So, companies measure potential synergy before making an M&A transaction.

3. Getting Unique Capabilities On a number of occasions, mergers and acquisitions take place to get unique capabilities or resources, which can help the company to become a monopoly in the market. For example- If a new company acquires patents and licenses after making M&A deal, it can easily increase its sales and profits because of the innovation and efficiency caused by the merger or acquisition.

4. Capitalize the Government Policies Mergers and acquisitions also happen to cope with unfavorable government policies that make it mandatory for companies to have a certain size to exist in the business. On the other hand, some governments provide tax breaks and other incentives to big companies. Mergers help companies to lower their tax liabilities and increase their profit margins.

5. Ability To Deal With Larger Clients Mergers and acquisitions take place to deal with a large number of clients and increase the financial benefits. For exampleM&A activity in law firms allows the company to access more resources and expertise & serve a large number of clients easily and quickly.

6. Termination Of Employees Whenever two companies are combined into one or one company acquires another firm, employees are fired from their jobs. The new company wants to downsize the labor force and make the most use of the available talent. In some cases,

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the salaries of the workers are reduced to cut the operational cost.

This also provokes employees to leave the job and look for other options. These activities can fill negativity in the minds of existing staff and their performance/output is affected badly. Due to the different work culture, employees often clash with each other. It may affect the overall performance of the company a lot. If you don’t address this problem quickly, it becomes very difficult to operate the company smoothly and easily.

In some cases, many employees take legal action against the company because of their termination. Therefore, while getting involved in an M&A transaction, you should consider the interest of employees and shareholders seriously and try to solve the matter in a friendly manner. If any problem arises, you can take the help of M&A Law firms. They can assist you to follow the government recognized law in M&A transaction and will keep you to deal with any sort of legal trouble in the future.

7. Overpayment The clash overpayment is quite common in M&A transactions.

, There are many cases when the company A accuses B of financial misappropriation and takes the legal action to get its money back from the company B. Such a scenario is harmful to both companies as involvement in prolonged legal battle can damage their reputation in the market and hurt them financially.

If you get trapped in such a complicated mess, you should hire expert Mergers and Acquisition Lawyers without having any second thought. They have the knowledge of different laws related to the M&A transactions and can help you to perform merger and acquisition without any legal hindrance.

Fundamentally, M&A transactions affect the acquisitive companies in many ways. These are some important impacts that are likely to be faced by the firms.

DECEMBER 2017 Page 29

Ten Quick Tips on How to Find a Divorce Lawyer

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Ten Quick Tips on How to Find a Divorce Lawyer In this compelling article, V. Wayne Ward explores how to find a divorce lawyer in the US, although the hints and tips could be applied to readers around the world.

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, Divorce is a dreaded incident in any family because it is so painful and grueling just like any other legal procedure that can profoundly affect your life. In such a case, a legal family divorce lawyer with years of on your side would come in handy to walk you through the challenges of the divorce process.

The question to many however remains, “How on earth am I going to find a good divorce attorney?”

The truth is that finding such a legal professional that is the right for your situation to provide the necessary legal advice and at a price you can afford isn’t a walk in the park.

Here are some of the guiding tips to help you in your search; 1. Decide the type of divorce process you will use There are quite a number of divorce processes including litigation, mediation, cooperative and collaborative. After making this decision, you can then proceed with the search for the right divorce lawyer.

The essence of this is to guide you in finding the divorce attorney with the experience in a specific type of divorce. Picking just any lawyer will simply you unsatisfied with the outcome of the case.

2. Determine the kind of legal service that you need Depending with your situation, you need a lawyer that can walk you through the process and that is it. It is not logical to hire a big city firm that charges $500/ hour on a simple divorce case not involving big assets like companies, real estates and other complicated financial situations.

you need a lawyer that simply understands family law, has the experience and offers affordable services.

3. Check out on your budget in relation with the legal service that you need You most definitely don’t intend to spend thousands of dollars on your divorce case. The legal services you need will determine the amount you will be willing to pay as cost of the legal services.

Always seek legal services from legal divorce attorneys you can afford.

4. Ask for referrals Friends, family and colleagues would be a good source of information regarding divorce lawyers in your area. You might have a friend that has gone through a divorce in the recent past; such people would help in referring you to their divorce attorney if they believe he did a good job for them. You may also ask other lawyers in different specialties for referrals if you happen to know one- lawyers know each other remember.

5. Search through the internet wisely The internet has grown to become a great source of information on absolutely anything including divorce lawyers. You can as well use it to gather information and validate referrals. A well updated website speaks a million words about a specific lawyer. With the names already referred to you, you may decide to give the lawyers a courtesy visit on their website to validate some information about them.

while some rated highly yet their service is below standard.

7. Find out the experience of the divorce lawyer Divorce is a complicated issue and hiring a friend who is a criminal lawyer simply because they offered to help in your case will ultimately ruin your case. You need a lawyer that specifically specializes in family law and that has experience in handling divorce cases.

8. Do not hire the first lawyer that you interview It is advisable to interview at least three lawyers before you make the decision. Take your time and talk to these legal experts to get their perspective on your case. From then you can make the decision on the lawyer that recommends using the approach that you are comfortable with.

9. List down the crucial questions you need to get answered from your lawyer Divorce is a personal issue and many people find it difficult talking to a lawyer. With questions already written down, you will easily ask your lawyer exactly what you want to know without forgetting anything due to the emotions and tension involved.

10. Follow your gut In simple terms do as your gut dictates you. The inner feeling about a lawyer is real; simply listen to it.

6. Check out lawyer ratings

This information is invaluable when searching for a divorce attorney. You however need to take this information cautiously In cases of large asset divorce as some good lawyers are rated cases, you definitely need a poorly because they have decided lawyer with experience in handling not to advertise themselves or such complications, otherwise their firms with a particular site

DECEMBER 2017 Page 31

Medical Cannabis Sales Increase as Legalization Spreads in the USA

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Medical Cannabis Sales Increase as Legalization Spreads in the USA Medical benefits of cannabis, specifically patients suffering from chronic pain, diabetes, and cancer have driven the medical cannabis market. The U.S medical cannabis market is estimated to be valued at $19.48 billion by 2024. The growth of the cannabis market will rise as the number of States that legalize medical cannabis increase. The solid edibles segment of the U.S. cannabis market generated $2.47 billion in revenue in 2016 and is expected to continue to grow over the forecast period.

California was the first state to legalize medical cannabis use. California recorded the largest revenue in 2016 for medical cannabis use and is estimated to record a CAGR of 13 percent over the forecast period.

Medical cannabis may replace pharmaceuticals that are used to treat arthritis, chronic pain, cancer, and more. Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data said, “The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy.

It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical

cannabis as a substitute or complement to pharmaceuticals.”

Global Payout, Inc. announced breaking news recently, “that it has executed a Letter of Intent (“LOI”) with SinglePoint, Inc., (“SinglePoint) a full service mobile technology provider whom Global intends to begin collaborating with to maximize its existing suite of financial technology solutions, including those utilized by its majority owned subsidiary, MoneyTrac Technology, Inc.

As Global continues to expand its financial technology service offerings to businesses operating across a wide range of industries, the Company continues to seek potential partnerships with other

companies within the Fintech space whose technology can boost and optimize Global’s existing payment and financial technology platforms. Through this LOI, the Company intends to explore the technology optimization opportunities that may exist through the establishment of a joint venture with SinglePoint.”

serve. We are also eager to use this agreement as an opportunity to examine how a partnership with SinglePoint can be leveraged to enhance the payment and financial solutions offered by MoneyTrac Technology, our majority owned subsidiary is focused on offering in the rapidly expanding multibillion dollar cannabis industry.”

According to Global CEO, “SinglePoint’s knowledge and expertise in mobile payments and other mobile technology offerings is something we believe could be a significant addition to the financial payment platforms we have developed, and are still developing, for our clients in the many different industries we

SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Recently, the company announced a joint venture relationship with Smart Cannabis Corporation in which SinglePoint will license and market Smart Cannabis’ SMART APP, an industry

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, Medical Cannabis Sales Increase as Legalization Spreads

DECEMBER 2017 Page 33

specific application that enables cultivators to control entire operations from a mobile device.

The SMART APP is leading the way in efficiently cultivating cannabis through the introduction of IoT technology (Internet of Things) to greenhouses. This SMART APP IoT technology measures everything from nutrient levels in soil to watering cycles, to parts per million of carbon dioxide in the air. SinglePoint and Smart Cannabis Corp. will also work together to integrate SinglePoint’s bitcoin payment solution. This gives cultivators the ability to collect payment for their sales via the payment application, making for a safer and more secure transaction.

production methods; as well as biopharmaceutical research and development. Recently, the company announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined terpene profile, meaning that this potent strain may have significant medical benefits. The team was gratified to receive hard test results that verified their goal.

The plant produced a THC-a content of 35.119%, as well as -myrcene levels of 2.18% and -caryophyllene levels of 1.01%, as tested by independent lab Digipath Labs, Inc. in Las Vegas.

Finally, American Cannabis Company, Inc.is a business-tomCig, Inc. is a diversified business consulting firm that company servicing the legal offers turnkey and end-to-end cannabis, hemp and CBD markets solutions to existing and aspiring via its lifestyle brands. Recently, participants in the cannabis the company announced that the industry. On September 21, 2017, company’s CEO has agreed to the company announced it has invest more than $500,000 into signed an exclusive distribution OBITX, Inc., formerly known as agreement with Earth Alive, a GigeTech, Inc., a majority owned leading Canadian clean-tech subsidiary of MCIG. The funds company that develops and will be used by the company to manufactures state-of-the-art purchase the first of its kind, state microbial technology-based of the art cryptocurrency ATMs. products. This agreement allows OBITX will utilize the machines to for the commercialization of also service cannabis companies Earth Alive’s premiere cannabis by helping to build a bridge microbial inoculant product, called between the “cash” business of Dr. Marijane. Dr. Marijane is a cannabis and mainstream finance certified organic root probiotic through cryptocurrency. that promotes increased vegetative growth, improves Additionally, GB Sciences, the bioavailability of fertilizer Inc. is a diverse cannabis programs, and sustains healthy company, focused on development and structuring of standardized cultivation and plant roots.

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Chronic Pain

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Legalization of Cannabis Spreading in USA Medical benefits of cannabis has helped drive the market, specifically patients suffering from: Diabetes

Cancer

Arthritis

DECEMBER 2017 Page 35

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Cryptocurrency Market Continues to Show Growth

Cryptocurrency Market Continues to Show Growth According to data from Coinmarketcap, the total market capitalization of all cryptocurrencies has surpassed $500 billion for the first time and hit a record high of $506 billion on Wednesday due to the surges of Ethereum and Ripple prices.

Ethereum, the second largest cryptocurrency by market cap, hit an all-time high of $747 on Wednesday. Ripple also posted an impressive gain in the past two days.

Ripple price rose 27 percent to $0.48 in the last 24 hours. Bitcoin is still leading in the cryptocurrency market, with a market cap of over 278 billion.

According to Yahoo Finance, RBC Capital Markets analysts, Mitch Steves and Amit Daryanani, believe the cryptocurrency market could be worth $10 trillion. In a research note on December 12th, they said, “On a near-term basis we think it is quite difficult to make price statements which is why we are flagging the move now in the case that it sustains. Longer term, we think crypto currencies are here to stay and will likely become a large market (our long-term estimate for the Cryptocurrency space is in the $10 Trillion dollar range versus ~ $500B today).”

Chineseinvestors.com, Inc. announced on December 5th that it has entered into an agreement with Blockchain BTM, LLC to host a Bitcoin ATM at its San Gabriel, California office with plans to expand to serve other Chinese Communities throughout the United States. The Bitcoin ATM, located in the lobby of the

Company’s offices in the highly trafficked San Gabriel Hilton Plaza, is open from 9 a.m. to 6 p.m., Monday through Friday, making it convenient and easy to purchase Bitcoin. Purchasers will have access to on site customer service representatives available to provide instruction regarding the Bitcoin ATM in both Chinese and English. The machine however offers translation into five languages including traditional and simplified Chinese, English, Spanish, French and Korean.

Cryptocurrency enthusiasts can purchase up to $7,000 worth of Bitcoin daily from the ATM. If the purchaser does not already have a digital wallet to hold the cryptocurrency, the ATM is able to digitally print a wallet.

Alternatively, there are many digital wallet smartphone apps available for download for Android and iPhone. For those that wish to make a more significant investment, over $7,000, the Company can provide information

on how to facilitate much larger transactions.

In recent weeks, the Company unveiled its new cryptocurrency education and information services, including the first Chinese Daily Video Newscast, Bitcoin Multimillionaire, broadcast from the NYSE covering Cryptocurrency and Blockchain Technology. In November the Company launched a free bitcoin news and education website in the Chinese language under the domain name newcoins168.com to serve Chinese cryptocurrency investors globally. In addition, the Company will launch new cryptocurrency subscription products in January 2018.

“Although there has been some volatility in the cryptocurrency market, Bitcoin’s price resilience is impressive, reaching over $11,000.00 in the last week, with a Friday close of $10,814. With each rebound in price relative to news, we see more evidence that

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the concept of digital currency is taking root with investors and the general public alike,” says Warren Wang, Founder and CEO of CIIX. “In addition to providing skilled investors with news about digital currency, ChineseInvestors. com, Inc. hopes to satisfy the average person’s curiosity about cryptocurrency, including how to purchase Bitcoin. Moreover, the underlying Blockchain Technology is extremely compelling and we expect to see many interesting developments in this area. Bitcoin ATMs are just one example of how this area is moving forward.

We are excited to make this service available to the Chinese community.”

Meanwhile, Bitcoin Investment Trust recently announced the launch of its third investment vehicle, the Zcash Investment Trust (the “Trust”). A trusted authority on digital currency investing, Grayscale Investments, LLC has assets under management of $1.3 billion.

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The Trust’s shares are the first securities solely invested in Zcash (“ZEC”), the digital asset that powers the Zcash Network.

The investment objective of the Trust is for the shares to reflect the value of the ZEC held by the Trust, determined by reference to the TradeBlock ZEC Composite Reference Rate at 4:00 p.m. New York time, less the Trust’s expenses and other liabilities. The Trust is a passive investment vehicle that is not actively managed. The Sponsor believes that, for many investors, the shares will represent a cost-effective and convenient investment relative to a direct investment in ZEC. Alongside this, MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to focus on an expansion model to grow its crypto assets materially. On Decemeber 6th, the company announced that it has executed a new purchase order with Bitmain Technologies for an additional 500 S9 Antminer mining rigs, with shipment expected early in the first quarter of 2018. “To meet the ongoing and projected ramp of our mining footprint, we are exploring cost-efficient locations for hosting and electricity on a global basis. In addition to the economics, we are focused on immediate availability of adequate power,” stated Stephen Schaeffer, President of the Company’s Crypto-Capital Strategies business unit.

Additionally, Riot Blockchain, Inc. is leveraging its expertise and a

network of professional advisors to build and support blockchain technologies. On December 11th, the company announced that its majority owned Tess Inc. has entered into a non-binding letter of intent to merge with Cresval Capital Corp. TessPay is a blockchain company developing a supply chain payment platform for businesses to attempt to guarantee payment on time and in full. After the closing of the anticipated merger, TessPay will be publicly traded on the TSX Venture Exchange and change its name to “TessPay Inc.”.

Jeff Mason, Chief Executive Officer of TessPay, stated, “The decision to take the company public provides us access to traditional capital markets as we continue developing our blockchain technology solution.

This environment will also foster transparency and accountability moving forward, providing confidence to investors and prospective customers alike.”

Finally, Xunlei Ltd provided an update recently according to which it currently has 28.77% equity interest in Shenzhen Xunlei Big Data Information Services Company Ltd. and has no management control over Big Data. In response to certain public statements made by Big Data recently, the board of directors of the Company issued an open letter and firmly supported the Company’s endeavor to utilize its expertise of technical knowhow in the field of distributed computing to explore commercial applications with the help of blockchain technology.

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DECEMBER 2017 Page 39

How Financial Planners Can Fight Elder Abuse

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How Financial Planners Can Fight Elder Abuse Bryan Mitchell is a solicitor of the Supreme Court of Queensland, holds a Bachelor of Commerce and a Bachelor of Laws from The University of Queensland and a Master of Laws from QUT. Bryan is well respected within Queensland’s legal community and by satisfied clients for his expertise in wills and estates. He explores how financial planners can help fight the abuse of the elderly.

As our population continues to age, so we must continue to fight elder abuse.

The most common kind of elder abuse is financial abuse, and the good news is that professionals like financial planners can help to identify and fight elder abuse.

coffee shops, engaging them in a conversation by pretending to recognize them from prior encounters, according to Manhattan District Attorney Cyrus Vance. According to the charges, Ms. Evans stole more than $130,000 in cash and goods, including a Mercedes convertible, from a 77-year-old retired transit employee. Her second victim was Why are the elderly targeted? an 81-year-old, retired church Their loneliness and isolation musical director from whom she make them easy targets. They are stole $53,000. She obtained a vulnerable, in need of a helping marriage certificate for herself hand or someone who will pay and her third victim, a 73-yearthem some attention. They’re easy old retired college professor prey for undue influence, trusting who suffered from dementia, of their perpetrators. Maybe and withdrew $225,000 from his dementia is setting in. retirement account.

How Elder Financial Abuse Occurs In 2016, Mary Evans was indicted for allegedly stealing more than $400,000 from three elderly men in New York City.

Ms. Evans, 44, approached her targets in neighborhood restaurants, supermarkets or

A study issued last year by True Link Financial, a financial services firm that helps older adults and their families protect themselves from fraud, put the figure at $36.5 billion. Even at that, most experts believe the problem is significantly underreported. Cases often don’t come to light because victims are embarrassed about having allowed themselves to be

swindled, or reluctant to point the finger at the perpetrators — often people who are close to them.

How Financial Planners Can Help Fight Elder Abuse Financial planners are on the front lines of elder financial abuse and are often among the first to spot red flags. Yet they’re not always sure how to respond and they worry about the consequences of taking action.

An InvestmentNews survey of 591 advisers found that 62% have seen or suspected financial abuse of an elderly client at least once.

But more than half of those who suspected abuse — 56% — said they didn’t report it.

The trouble for advisers is while they often see hints of exploitation, the hints are often “very fuzzy,” and it’s not within their expertise to figure out if the person sitting in front of them is being victimized, according to Dr. Blum, who provides expert evaluation in cases of undue influence and

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manipulation tactics. Indeed, 61% of advisers in the InvestmentNews survey said they didn’t report suspected financial abuse of their elderly clients because they “did not have enough evidence.”

In the InvestmentNews survey, 65% of advisers identified a family member as a suspected perpetrator, while 30% pointed to a friend or acquaintance and 30% said it was a caregiver.

Bank of America Merrill Lynch surveyed its advisers last year to identify the most common perpetrators of elder financial abuse and found that 71% cited children of the victim, with 32% flagging other family members and 18% identifying anonymous fraudsters.

Organisations Who Have Introduced Measures to Fight Elder Abuse In 2010, Wells Fargo started tracking instances of financial exploitation of senior and elderly clients. The number of reported

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How Financial Planners Can Fight Elder Abuse DECEMBER 2017 Page 41

cases rose from about 30 a month in 2010 to 90 to 100 cases in 2014. The increase was in part due to the firm’s focus on training financial planners to spot it. And more than two years ago, Wells Fargo formed a unit within in its compliance department to process reports of suspected fraud from financial planners themselves.

The unit has fielded about 2,000 incidents of abuse and frequently brings in adult protective services agencies or financial regulators into the cases.

Merrill Lynch, meanwhile, educates its financial planners on preventing elder abuse and encourages them to acquaint themselves with their elderly clients’ family or close friends so they can turn to someone with any doubts. The company also gives its financial planners an authorization form to get a trusted contact person planners can consult about suspicious activity.

Morgan Stanley has built a website on senior client-specific concerns for its financial planners.

It also trains its reps on identifying exploitation and has a protocol for taking up issues affecting senior clients to its legal unit. Meanwhile, smaller wealth management firms are taking similar steps, according to the publication.

Fight Elder Abuse By Watching Out For Scams Older people are also targeting by scammers they don’t know, and here are the most common scams and frauds.

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Getting a call or email from the ATO demanding immediate payment to avoid jail or requesting identifying information

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Receiving a phone call from a “computer technician” informing the client of a computer virus that is rapidly spreading and stealing person information. The caller is then able to access the computer and its data.

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Notification that the client has won a huge lottery in a foreign country, but in order to receive the millions they must pay fees, transport or other processing costs upfront.

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Receiving an email or phone call that a grandchild or other relative is stranded in a foreign country without money and passport, or is in a hospital, or was jailed unjustly, along with a plea to send money right away.

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An email from a bank or financial institution that looks legitimate but that comes from an address the client does not recognize, or that has no subject line, especially if it contains a link to click on.

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A “friend” develops a relationship online, offering understanding and love to a lonely client. Before long, the friend begins to request money to help resolve legal or medical issues, or to fund a trip to come meet in person, or any number of other scenarios. Once money is sent the first time, the requests continue endlessly.

Expert lawyers in succession law (wills and estates) are also trained to recognise elder financial abuse, including undue influence. The key is to seek advice as soon as you become aware of the problem so that you can minimise the loss to the older person. Bryan Mitchell is an Accredited Specialist in Succession Law (wills and estates) and takes a keen interest in safeguarding older people.

View article: http://www. lawyerissue.com/author/bryanmitchell/

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