PPP Application Period Ends; Treasury Department Releases Revised Forgiveness Application Forms and Revises Regulatory Standards Related to PPP Loan Forgiveness

  Today, June 30, 2020, marks the last day that a small business may apply for a COVID-19 relief loan under the Payroll Protection Program (“PPP”). In the run-up to this deadline, the Treasury department has issued a series of regulations and forms that govern PPP “Forgiveness Criteria” – the conditions that a PPP loan …

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Trademark Office Offers Accelerated Examination For COVID-19-Related Trademark Applications

By: Sean Detweiler The USPTO recently announced that it is accepting petitions to accelerate the timeline for examination of new trademark applications for trademarks used to identify certain COVID-19 medical products and services (see USPTO: Relief Available to Trademark and Service Mark Applicants in View of the COVID-19 Outbreak: Petitions to Prioritize the Initial Examination of …

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Federal Reserve Main Street Lending Program Update: Open for Lender Registration

  On June 15, 2020, the Federal Reserve’s Main Street Lending Program opened for Lender registration. This is the last administrative step prior to opening the program to business borrowers. A press release from the Federal Reserve Bank of Boston on the subject is here. The Main Street Lending Program is designed to provide small and medium-sized businesses …

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Federal Reserve Expands the Main Street Lending Program

In an effort to allow more small and medium-sized businesses to be able to receive support under the Main Street Lending Program, on June 8, 2020, the Federal Reserve made several changes to the Program. The Federal Reserve stated that it expects the Program to be open for lender registration soon and to be actively …

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PPP Flexibility Act Passes; Fundamentally Changes Forgiveness Rules

By: Matthew Mitchell and Scott Bleier               On June 3, 2020, the Senate passed, by unanimous consent, the Payroll Protection Program Flexibility Act (the “Act”), which eases certain forgiveness requirements to the favor of PPP loan recipients.  Specifically: Forgiveness Period Extended: The Act extends the Forgiveness Period of the …

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Contours of Copyright: Supplementary Note to “The States Win One and Lose One.”

Earlier this month we reported on two Supreme Court cases affecting states’ rights under copyright law. The victory for states came in Allen v. Cooper, which held that the Copyright Remedy Clarification Act of 1990 lacked a proper constitutional foundation to abrogate states’ immunity, under the 11th Amendment, from private copyright infringement suits. The Court …

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Federal Reserve Provides Additional Guidance on the Main Street Lending Relief Program: Program Slated to Commence in the Near Term 

On May 27, 2020, the Federal Reserve Bank of Boston issued additional guidance, forms of borrower and lender certifications, forms of participation agreements and related agreements in connection with the Main Street Lending Program. No official launch date was announced for the Program, but it has been widely reported that the launch is imminent. The …

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Contours of Copyright: The States Win One and Lose One 

Two recent U.S. Supreme Court cases affect the rights of states under copyright law, one pro-state, one anti-state (really more pro-public). In his new copyright article, Howard Zaharoff discusses the Court's rulings in Georgia v. Public.Resource.Org Inc. and Allen v. Cooper, Governor of North Carolina. The state loss was Georgia v. Public.Resource.Org. Inc. (decided April 27, …

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PPP Update: Treasury Department Releases New Regulations Related to PPP Forgiveness 

  As we have previously reported, a recipient of a Paycheck Protection Program (“PPP”) loan may be excused from the obligation to repay the loan if certain “Forgiveness Criteria” are met. On Friday, May 22, 2020, the Treasury Department released two Interim Rules that detail those Forgiveness Criteria: the Interim Final Rule on Loan Forgiveness, and …

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Massachusetts Office Spaces Are Authorized to Re-Open: A Report From the Field

  On May 18, 2020, Massachusetts Governor Charlie Baker implemented “Phase I: Start” of the Commonwealth’s phased economic re-opening plan. A component of the Phase I: Start plan authorizes office worksites, outside Boston, to re-open to limited operations as early as May 25, 2020 (Boston offices are authorized to re-open as early as June 1, 2020). Since the Governor’s announcement, …

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