Securities Laws
SEC Pushes Back Proposed JOBS Act Rules, Again
Last week we wrote about how the SEC was opting to issue proposed rules for Title II of the JOBS Act at its August 22nd meeting, rather than implementing interim rules, as had been anticipated. But on August 21st, just a day before the proposed rules were set to be unveiled, the SEC issued a notice that the rules would not be proposed until August 29th. We’ll update update our blog with details on the proposed rules when they are announced. You can check out this post we wrote in July to get a refresher on the expected subjects of rulings by the SEC on Title II.
Mergers & Acquisitions
IBM Acquires Kenexa
IBM has announced that it reached an agreement to acquire Kenexa, a maker of a social networking human resources software. IBM is paying $1.3 billion, or $46 per share, which is roughly a $14 per share premium. IBM’s acquisition signals its intent to expand its footprint in the social business vertical.
Intellectual Property
Fallout From Apple’s Victory Over Samsung
Last week we wrote about the $1billion judgment Apple was awarded in its suit against Samsung. In the wake of that judgment, many are criticizing the US patent system, which many think is ill-suited for high tech electronics. Julie Samuels of the Electronic Frontier Foundation, thinks it’s time to reform the US patent system:
Our patent system is intended to incentivize innovation, in theory at least. Lately it’s become little more than a tool to squelch competition, and it’s not just the Apples and the Samsungs of the world who find themselves fighting these battles. It’s also small and innovative companies, local governments, foreign companies trying to make it in America, hobbyists, and even individual developers. The problems are particularly acute in the world of software: it turns out that software patents are nearly five times more likely to be the subject of litigation as other patents. In fact, lawsuits surrounding software patents have more than tripled since 1999.
Business News
Amazon Changing the Cloud Computing Business
Yesterday’s NY Times featured a column on how Amazon is reshaping the startup landscape for companies in the cloud computing industry. Amazon is able to provide highly scalable data storage services, which brings costs down from seven figure costs to low six figure costs. The lower costs enable many more companies to bring products to market, which benefits both consumers and entrepreneurs.
