TreatiseTreatise

Fashion Law and Business: Brands & Retailers

 by Lois F. Herzeca, Howard S. Hogan
 
 Copyright: 2013

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  • ISBN Number: 9781402420511
  • Page Count: 887
  • Number of Volumes: 1
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If you want to be successful in the fashion industry, but haven’t had the time to go to law school . . . I highly recommend Fashion Law and Business.”
– Fern Mallis, former Executive Director of the Council of Fashion Designers of America, creator of New York Fashion Week, and fashion industry consultant

Up until now, starting a business in fashion has been a trial and error process. With this book, Lois Herzeca and Howard Hogan have created a brilliant step-by-step guide to being a successful entrepreneur in fashion. It’s the kind of book I wish had been available when I started my company.
– Jaqui Lividini, Founder and CEO of L&Co.

Herzeca and Hogan provide an accessible overview of key issues facing any fashion business, with case studies, examples, and sample forms that will help people working at any level of the industry. The multiple layers of intellectual property and advertising law can seem impossibly complex, but Fashion Law and Business clearly sets out each area a business must consider.”
– Rebecca L. Tushnet, Professor of Law, Georgetown University Law Center and author, 43(B)log

The guidebook we have all been searching for.”
– Shirley Cook, CEO of Proenza Schouler

Understanding the legal underpinnings of fashion retailing is central to success in this fast-paced and ever-changing industry. Herzeca and Hogan provide a timely and insightful exposition on the intersection of fashion retailing, branding, and law.”
– Dr. Dhruv Grewal, Toyota Chair of Commerce & Electronic Business, Professor of Marketing, Babson College and a past editor of Journal of Retailing

The rules and laws of branding can vary significantly by industry, and make or break any business’s success. Herzeca and Hogan offer a thorough, practical examination of the important business law issues for the fascinating but challenging world of fashion. The insights and guidelines they provide are indispensable.”
– Kevin Lane Keller, E.B. Osborn Professor of Marketing, Tuck School of Business, Dartmouth College and author, Strategic Brand Management

This comprehensive treatment of the legal issues involved in an important industry is required reading for anyone interested in understanding the law and business of fashion. It is destined to become the "go-to" reference in its field as well as a model for guides in other areas.”
– Maureen A. O’Rourke, Dean & Professor of Law, Boston University School of Law

To the general public, the fashion industry is most closely identified with celebrated fashion houses mounting elaborate and highly publicized runway shows in the major fashion capitals of the world. In reality, the fashion industry is much more diverse, complex, and global. FASHION LAW AND BUSINESS unravels the complexity and provides clear guidance on the wide range of legal and business issues faced by fashion industry participants, including designers, suppliers, manufacturers of apparel and accessories, and retailers.

In FASHION LAW AND BUSINESS you’ll learn:

• The considerations involved in starting a company in the fashion industry, including developing a business plan, determining the form and structure of the legal entity, and obtaining financing.

• How patent, trademark, and copyright law have been applied to the fashion industry and their impact in such areas as gray market goods and counterfeiting.

• The contractual relationships and regulatory issues applicable to the design and production of fashion products.

• The dynamics of retail sales in the apparel industry, including a discussion of e-commerce and mobile commerce

• The legal issues involved in leasing and licensing brick-and-mortar retail stores, with a focus on the significant contractual terms that should be considered in connection with such real estate transactions.

• How to deal with labor and employment issues that relate to the fashion industry, including working conditions, wages and hours, child labor, use of independent contractors such as sales representatives, and developments in collective bargaining in the fashion industry.

Written by two of America’s leading fashion and retail law authorities, FASHION LAW AND BUSINESS provides you with an integrated, comprehensive guide to the issues affecting the fashion industry today.

  Preface
  Table Of Contents
  Introduction
Chapter 1: Starting a Fashion Company; and Appendix 1-A
  • 1.1 : Introduction1
    • A. : Planning and Preparation1
    • B. : Drafting the Business Plan4
      • : Executive Summary.4
      • : Business Description.4
      • : Industry and Market Analysis.5
      • : Competition.5
      • : Implementation.5
      • : Organization and Management.6
      • : Financial Projections.6
  • 1.2 : Forming and Structuring the Business7
    • A. : Initial Considerations7
    • B. : Sole Proprietorship8
    • C. : General Partnership10
    • D. : Corporation15
    • E. : S Corporation18
    • F. : Limited Liability Company20
    • G. : Limited Partnership22
    • H. : Cooperatives25
    • I. : Piercing the Corporate Veil25
    • J. : Organizational Structure26
  • 1.3 : Financing the Business28
    • A. : Capital Structure28
    • B. : Equity28
    • C. : Debt37
  • 1.4 : Sources of Financing37
    • A. : Financing in Stages37
    • B. : Personal Funds39
    • C. : Friends and Family39
    • D. : Angel Investors41
    • E. : Venture Capital Investors43
    • F. : Private Equity46
    • G. : Factoring47
    • H. : Bank Financing and Commercial Credit48
  • Appendix 1-A : Appendix 1-A Sample Creative Control Provisions60
Chapter 2: Trademarks and Trade Dress; and Appendices 2-A to 2-C
  • 2.1 : Introduction63
  • 2.2 : History64
  • 2.3 : Trademarks Defined66
  • 2.4 : Recurring Trademark Issues67
    • A. : Letters and Numbers in Trademarks67
    • B. : Personal Names67
    • C. : Geographic Terms and Foreign Words69
  • 2.5 : Trade Dress69
  • 2.6 : Clearing and Registering a Trademark70
    • A. : Registration Generally70
    • B. : What Can Be Registered72
    • C. : Overview of the Registration Process73
      • : Trademark Searching73
      • : The Application73
      • : Use-based and Intent-to-Use Applications74
      • : Examination74
      • : Opposition Proceedings75
      • : Post-Registration76
      • : International Aspects77
  • 2.7 : Trademark Infringement77
    • A. : First Element: Establishing That the Trademark Is Entitled to Protection78
    • B. : Second Element: Establishing Likelihood of Confusion79
      • : The Confusion Factors79
      • : Types of Confusion80
      • : Likelihood of Confusion Analysis83
  • 2.8 : Trademark Dilution89
    • A. : Dilution by Blurring90
    • B. : Dilution by Tarnishment91
  • 2.9 : Remedies for Trademark Infringement91
    • A. : Injunctive Relief91
      • : Permanent Injunction92
      • : Preliminary Injunction92
    • B. : Monetary Relief94
      • : Defendant’s Profits94
      • : Plaintiff’s Damages95
      • : Costs of the Action and Attorneys’ Fees95
      • C. : Accounting of Profits95
      • D. : Remedies for Infringing Domain Names96
      • E. : International Trade Commission96
  • 2.10 : Defenses to Infringement98
    • A. : Invalidity of the Trademark98
    • B. : Fraud in Procuring the Trademark99
    • C. : Unclean Hands99
    • D. : Nominative Fair Use100
    • E. : Laches101
    • F. : Naked Licensing102
    • G. : Parody103
    • H. : Aesthetic Functionality105
      • : The Louboutin Case106
  • 2.11 : Search Engine Advertising as Infringement107
  • 2.12 : Duty to Protect a Mark110
  • 2.13 : Developing an Enforcement Strategy110
    • A. : Private Co-Existence Agreements111
  • 2.14 : Trademark Licensing112
  • 2.15 : International Trademark Issues113
    • A. : The World Intellectual Property Organization113
    • B. : The Madrid Protocol114
  • Appendix 2-A : Appendix 2-A Trademark/Servicemark Application, Principal Register of the United States Patent and Trademark Office140
  • Appendix 2-B : Appendix 2-B International Trademark Classification of Goods and Services162
  • Appendix 2-C : Appendix 2-C Signatory Nations to the Madrid Agreement Concerning the International Registration of Marks167
Chapter 3: Patents; and Appendices 3-A to 3-C2
  • 3.1 : Introduction*171
  • 3.2 : Overview of Patent Protection173
    • A. : What Is a Utility Patent?173
    • B. : What Is a Design Patent?174
  • 3.3 : Applying for Patent Protection175
    • A. : Application Requirements175
    • B. : Prior Art Searches176
    • C. : Costs and Fees176
    • D. : Examination177
    • E. : Design Patent Applications178
    • F. : Marking179
  • 3.4 : Patent Enforcement and Remedies179
    • A. : Patent Infringement179
    • B. : Remedies180
      • : Monetary Damages180
      • : Injunctive Relief181
      • : Attorneys’ Fees181
      • : Prejudgment Interest181
      • : Enhanced Damages for Willful Infringement182
  • 3.5 : Territoriality of Patent Protection182
    • A. : Patent Enforcement in the United States182
    • B. : Patent Protection Outside the United States183
  • 3.6 : Patent Protection in Fashion184
    • A. : Design Patent Protection in Fashion: Trends in Use and Enforcement184
    • B. : Utility Patent Protection in Fashion: Trends in Use and Enforcement189
      • : High Performance Fabrics and Athletic Attire189
      • : Other Uses of Utility Patents190
      • : Integration of Technology and Fashion192
  • 3.7 : Conclusion194
  • Appendix 3-A : Illustrative Patent Application Forms for Patents Filed After September 16, 2012204
  • Appendix 3-B1 : Illustrative Design Patent 1: U.S. Design Patent: Seamans, March 28, 2006215
  • Appendix 3-B2 : Illustrative Design Patent 2: U.S. Design Patent: Iamartino, June 26, 2012220
  • Appendix 3-C1 : Illustrative Utility Patent 1: U.S. Patent: Seamans, February 7, 2006232
  • Appendix 3-C2 : Illustrative Utility Patent 2: U.S. Patent: Drab et al., September 11, 2012252
Chapter 4: Copyrights; and Appendix 4-A
  • 4.1 : Introduction261
  • 4.2 : Development of Copyright Law in the Fashion Industry261
  • 4.3 : Elements of Copyright Protection263
    • A. : Originality263
    • B. : Separability265
      • : Development of the Separability Doctrine265
      • : Useful Articles in the Fashion Industry266
      • : “Separable” Elements of Useful Articles266
      • : Evaluating Whether Design Elements are “Separable”267
    • C. : Idea and Expression269
  • 4.4 : Efforts to Protect Fashion More Vigorously271
  • 4.5 : Joint Ownership and Works Made for Hire272
  • 4.6 : Copyright Registration Procedures274
    • A. : Elements of a Copyright Application275
    • B. : Renewals and Change of Ownership276
    • C. : Copyright Notice276
    • D. : Length of Copyright277
  • 4.7 : Copyright Infringement277
    • A. : Access278
    • B. : Substantial Similarity279
      • : The Ordinary Observer and Related Tests279
      • : The Extrinsic/Intrinsic Tests280
      • : Other Substantial Similarity Tests281
      • : The Use of Characters in Apparel282
  • 4.8 : Defenses283
    • A. : Fair Use283
    • B. : The De Minimis Doctrine285
  • 4.9 : Remedies286
    • A. : Injunctive Relief286
    • B. : Impoundment and Disposition286
    • C. : Damages and Profits287
      • : Actual Damages and Profits287
      • : Statutory Damages288
    • D. : Costs and Attorney’s Fees288
  • 4.10 : International Copyright Protections288
    • A. : The European Union289
    • B. : Geneva Act of the Hague Agreement Concerning the International Registration of Industrial Designs290
    • C. : Individual Countries290
      • : France290
      • : United Kingdom291
      • : Japan292
      • : Australia292
      • : Canada293
    • D. : Conclusion293
  • Appendix 4-A : Illustrative Copyright Application: Form VA306
Chapter 5: Unfair Competition and Misappropriation
  • 5.1 : Introduction311
  • 5.2 : Unfair Competition in California312
    • A. : California’s Statutory Unfair Competition Law312
    • B. : California’s Common Law of Misappropriation314
  • 5.3 : Unfair Competition in New York315
    • A. : New York Common Law Unfair Competition: Passing Off and Misappropriation315
      • : Passing Off315
      • : Misappropriation316
    • B. : New York Statutory Unfair Competition Law317
  • 5.4 : Federal Unfair Competition318
  • 5.5 : Illustrative Cases in the Fashion Industry319
    • A. : J. Crew Group Inc. v. Fenton319
    • B. : Burch v. Burch320
    • C. : Claim of Unfair Competition Against Sephora321
  • 5.6 : Conclusion321
Chapter 6: Counterfeiting
  • 6.1 : Introduction325
  • 6.2 : Government Enforcement326
  • 6.3 : Civil Litigation328
    • A. : Establishing Personal Jurisdiction over Counterfeiters328
      • : Websites Selling Goods in the Forum328
      • : Providing Services to Website Selling Counterfeit Goods in the Forum329
      • : Alternative Service of Process329
    • B. : Likelihood of Confusion329
    • C. : Ex Parte Injunctive Relief331
      • : Restraint of Third-Party Suppliers and Domain Name Registries331
      • : Restraint of Counterfeiters’ Assets332
      • : Expedited Discovery333
    • D. : Contributory Infringement333
      • : The Inwood Decision and its Progeny333
      • : Secondary Liability in the Online Context334
    • E. : Monetary Remedies339
      • : Counterfeiters’ Profits339
      • : Statutory Damages340
  • 6.4 : Additional Remedies for Trademark Owners340
    • A. : Technological Solutions340
    • B. : Cooperation Among Trademark Owners, Credit Card Companies, and Payment Processors341
    • C. : Public Education342
Chapter 7: The Gray Market and The First Sale Doctrine
  • 7.1 : Introduction351
  • 7.2 : Overview of the First Sale Doctrine352
    • A. : Purpose of the First Sale Doctrine352
    • B. : First Sale Doctrine in Copyright Law353
    • C. : First Sale Doctrine in Trademark Law354
    • D. : First Sale Doctrine in Patent Law354
  • 7.3 : Development of First Sale Doctrine and “Gray Market” Case Law355
    • A. : Parfums Givenchy, Inc. v. Drug Emporium, Inc.355
    • B. : Quality King Distributors, Inc. v. Låza Research International, Inc.356
    • C. : Abercrombie & Fitch v. Fashion Shops of Kentucky, Inc.357
    • D. : Omega S.A. v. Costco Wholesale Corp.358
    • E. : John Wiley & Sons, Inc. v. Kirtsaeng359
  • 7.4 : First Sale Doctrine in the Fashion and Apparel Context359
    • A. : Unauthorized Production and the “Genuine” Goods Doctrine360
    • B. : Failure to Transfer Ownership of Goods362
  • 7.5 : Strategies Used by Fashion Brands to Combat Gray Market Sales363
Chapter 8: Design and Manufacturing; and Appendix 8-A
  • 8.1 : Introduction371
  • 8.2 : Fashion Design and Luxury373
  • 8.3 : Design and Production375
  • 8.4 : Supply Contracts379
  • 8.5 : Governmental Regulation and Industry Initiatives380
    • A. : Federal and State Regulation380
    • B. : Industry Initiatives385
  • Appendix 8-A : Sample Manufacturing Agreement392
Chapter 9: Licensing Arrangements; and Appendix 9-A
  • 9.1 : INTRODUCTION405
  • 9.2 : LICENSE AGREEMENTS FOR THE MANUFACTURE AND SALE OF PRODUCTS406
    • A. : Using a Term Sheet406
    • B. : Drafting the License Agreement407
      • : Nature and Scope of the License407
      • : Rights of First Negotiation, First Offer or First Refusal410
      • : Term411
      • : Production Process and Quality Control412
      • : Royalties and Sales Volume413
      • : Advertising and Marketing414
      • : Intellectual Property Rights415
      • : Reporting and Accounting416
      • : Termination and Its Consequences416
      • : Buy-Out Rights418
      • : Representations and Warranties418
      • : Indemnification and Insurance418
      • : Other Provisions419
  • 9.3 : License Agreements for Retail Stores419
    • A. : Nature and Scope of the License419
    • B. : Development of the Stores420
    • C. : Other Terms420
    • Appendix 9-A : Sample License Agreement423
Chapter 10: Retail Sales
  • 10.1 : Introduction439
    • A. : Department Stores440
    • B. : Specialty Stores442
    • C. : Discount Department Stores443
    • D. : Off-Price Stores444
      • : Factory Outlets444
      • : Off-Price Retailers444
      • : Retailer-Owned Off-Price Stores444
    • E. : Boutiques445
    • F. : Pop-Up Shops445
    • G. : Internet Retailers445
    • H. : Mail-Order (Catalog) Retailers and Television Retailers447
  • 10.2 : Arrangements Between Retailers and Vendors447
    • A. : Vendor Standards448
    • B. : Selecting Products; Discounts and Markdown Allowances449
    • C. : Purchase Orders451
    • D. : Shipping, Delivery and Risk of Loss451
    • E. : Acceptance and Terms of Payment452
    • F. : Chargebacks453
    • G. : Consignments454
  • 10.3 : Distribution Agreements454
Chapter 11: Antitrust
  • 11.1 : Introduction461
  • 11.2 : Basics of Antitrust Claims462
  • 11.3 : Horizontal Relationships463
  • 11.4 : Vertical Relationships464
    • A. : Vertical Price Restraints464
      • : Resale Price Maintenance464
      • : Suggested Retail Prices465
      • : Persuasion and Refusals to Deal466
      • : Consignment466
      • : Promotional Programs and Direct Rebates467
      • : Cooperative Advertising467
    • B. : Non-Price Vertical Agreements468
      • : Exclusive Dealing and Exclusive Distribution468
      • : Territorial and Customer Restrictions469
      • : Tying469
  • 11.5 : Price Discrimination— The Robinson-Patman Act470
  • 11.6 : Antitrust Review417
Chapter 12: Real Estate
  • 12.1 : Introduction*477
  • 12.2 : A Brick-and-Mortar Presence: Initial Considerations478
    • A. : Finding a Suitable Space478
    • B. : Forms of Real Property Interests479
    • C. : Holding Real Property Interests; Guaranties and Security Deposits481
  • 12.3 : Drafting Lease Provisions482
    • A : Space482
    • B. : Term483
    • C. : Use Provisions485
    • D. : Exclusive Use and Use Restrictions486
    • E. : Rent487
    • F. : Rent Abatements490
    • G. : Visibility and Signage491
    • H. : Practical Considerations; Alterations494
    • I. : Assignments and Subleases497
    • J. : Other Provisions499
  • 12.4 : Special Considerations With Respect to Fashion Shows499
Chapter 13: E-Commerce and Mobile Commerce
  • 13.1 : Introduction505
  • 13.2 : Developing E-Commerce and Mobile Commerce Platforms507
    • A. : E-Commerce Stores507
    • B. : Mobile Commerce509
  • 13.3 : Legal Issues Affecting E-Commerce and Mobile Commerce510
    • A. : Contract Issues510
    • B. : Data Privacy and Security Issues513
      • : Regulatory Privacy Issues514
      • : Private Privacy Litigation519
    • C. : Other E-Commerce Issues520
  • 13.4 : Payment Methods520
Chapter 14: False Advertising; and Appendix 14-A
  • 14.1 : Introduction529
  • 14.2 : What Constitutes Actionable “False or Misleading” Advertising?529
    • A : Commercial Speech Versus Non-Commercial Speech529
    • B : “Advertising” Defined530
    • C : Non-Actionable Statements of Opinion Versus Actionable Statements of Fact531
    • D : Material Versus Immaterial False and Misleading Statements532
    • E : Literally False Advertisements Versus Ambiguous But Misleading Advertisements532
    • F : Specific Claims (or Disclaimers) Must Be Considered Within the Context of the Larger Advertisement534
  • 14.3 : Historical Regulation of “False or Misleading” Advertising535
  • 14.4 : Federal Regulation of “False or Misleading” Advertising536
    • A : Private Litigation Under the Lanham Act536
      • : Establishing Standing to Sue Under Section 43(a)536
      • : Prima Facie Elements of a Section 43(a) Claim for False or Misleading Advertising537
      • : “Establishment Claims”: A Special Case537
      • : Remedies for False or Misleading Advertising Available Under the Lanham Act539
      • : Common Defenses to a Section 43(a) Claim540
    • B : Administrative Regulation: FTC Oversight of “Unfair or Deceptive Acts of Practices”540
      • : The FTC’s Mandate and Structure540
      • : Broad Scope of the FTC’s Investigative and Prosecutorial Powers540
      • : FTC Administrative Proceedings541
      • : FTC Prosecutions in Federal Court542
      • : FTC Enforcement of Labeling Regulations542
    • C : Administrative Regulation: Concurrent FDA Oversight of “Cosmetic Products”543
      • : FDA and “Misbranding and Mislabeling” of “Cosmetic” Products543
      • : FDA Administrative Proceedings and Prosecutions in Federal Court545
  • 14.5 : State Regulation of “False or Misleading” Advertising545
    • A : “Little FTC Act” Jurisdictions545
    • B : “Little UDTP Act” Jurisdictions546
    • C : California’s Approach to Regulation546
    • D : Cosmetics Consumer Class Actions546
  • 14.6 : Private Self-Regulation of False Advertising547
  • 14.7 : “The New Horizon”: False and Misleading Advertising on Social Media Platforms549
    • A : Section 43(a) Suits Involving Digital Communications550
    • B : FTC Oversight of Social Media Advertisements550
    • C : Communications Decency Act552
  • : Appendix 14-A Examples of Effective Disclosures in Digital Advertising*562
Chapter 15: Labor and Employment
  • 15.1 : Introduction*589
  • 15.2 : Wages and Hours590
    • A. : Overview590
    • B. : Overtime Exemptions592
      • : Executive Exemption593
      • : Administrative Exemption593
      • : Learned Professional Exemption594
      • : Creative Professional Exemption594
      • : Computer Professional Exemption595
      • : Outside Sales Exemption595
      • : Combination Exemption595
      • : Highly Compensated Employee Exemption596
    • C. : Unpaid Trainees or Interns596
    • D. : Restrictions on Home Workers598
    • E. : “Hot Goods” and Combating Unfair Labor Practices598
  • 15.3 : Child Labor Laws and Sweatshop Practices599
    • A. : Federal Child Labor Law599
      • : Employer-Employee Relationship599
      • : Age of the Minor600
      • : Wages600
      • : Work Prohibitions601
      • : Enforcement, Penalties and Contesting Penalties601
    • B. : State Child Labor Laws601
    • C. : Concerns Over Sweatshop Practices602
    • D. : Addressing Labor Problems Through Self-Regulation: Corporate Codes of Conduct602
  • 15.4 : Anti-Discrimination Laws603
    • A. : Role of the EEOC604
    • B. : Defense to Sex and Age Claims: Bona Fide Occupational Qualifications606
    • C. : Pregnancy Discrimination606
    • D. : Family and Medical Leave Act607
  • 15.5 : Health Issues in the Fashion Industry and Implications for Employers607
  • 15.6 : Use of Sales Representatives608
  • 15.7 : Bargaining Units610
  • 15.8 : Social Media Usage610
Chapter 16: Employment Agreements
  • 16.1 : Introduction619
  • 16.2 : Basic Employment Terms620
    • A. : Title and Scope620
    • B. : Term620
    • C. : Compensation622
    • D. : Ownership of Creations623
    • E. : Other Matters624
  • 16.3 : Confidentiality Covenants624
    • A. : Confidentiality in the Fashion Industry624
    • B. : Drafting Confidentiality Agreements625
  • 16.4 : Covenants Not to Compete and Related Restrictive Covenants628
    • A. : Covenants Not to Compete628
    • B. : Related Restrictive Covenants631
Chapter 17: Rights of Publicity
  • 17.1 : Introduction637
  • 17.2 : Overview of Right of Publicity Law637
  • 17.3 : History of the Right of Publicity638
  • 17.4 : Leading Examples of State Right of Publicity Law641
    • A. : California641
    • B. : New York643
    • C. : Indiana644
  • 17.5 : Practical Implications for the Fashion Industry645
Chapter 18: International Trade and Customs Issues; and Appendices 18-A to 18-B
  • 18.1 : Introduction665
  • 18.2 : Importer Responsibilities656
    • A. : Reasonable Care656
    • B. : Recordkeeping Requirements657
  • 18.3 : Entry of Merchandise658
  • 18.4 : Classification660
  • 18.5 : Valuation662
    • A. : Assists662
    • B. : Royalties663
    • C. : Buying Agents663
    • D. : Related Parties664
    • E. : Alternative Means of Valuation665
    • F. : Reconciliation665
  • 18.6 : Country of Origin Rules and Marking666
    • A. : Non-Preferential Rules of Origin666
    • B. : Textile and Apparel Rules of Origin667
    • C. : Preferential Rules of Origin668
    • D. : Country of Origin Marking668
  • 18.7 : Administrative Process669
  • 18.8 : Penalties and Enforcement of the Customs Laws670
    • A. : Material Misstatements or Omissions670
    • B. : Seizures672
  • 18.9 : Exporting From the United States672
    • A. : Economic Sanctions673
    • B. : Export Controls673
  • Appendix 18-A : Department of Homeland Security U.S. Customs and Border Protection: Entry Summary679
  • Appendix 18-B : Sample Page from Harmonized Tariff Schedule of the United States (2013)
Chapter 19: Foreign Corrupt Practices Act
  • 19.1 : Introduction687
  • 19.2 : Foreign Corrupt Practices Act: Origins687
  • 19.3 : Foreign Corrupt Practices Act: Central Provisions688
    • A. : Anti-Bribery Provisions689
      • : Who Is Covered?689
      • : What Conduct Is Covered?691
      • : Affirmative Defenses and Statutory Exception692
    • B. : Accounting Provisions693
      • : Books and Records Provision694
      • : Internal Controls Provision694
  • 19.4 : FCPA Enforcement695
    • A. : Case Study: Ralph Lauren695
    • B. : Case Study: Avon697
      • : History of the Avon Investigation697
      • : Implications of the Avon Investigation698
    • C. : Supply Chain Risks699
      • : Third-Party Manufacturers699
      • : Transportation Service Providers699
      • : Distributors700
  • 19.5 : Issue-Spotting in the FCPA Enforcement Field701
    • A. : Issuers vs. Non-issuers701
    • B. : Third-Party Payments702
    • C. : Successor Liability703
    • D. : Foreign Officials704
    • E. : Gifts and Entertainment706
    • F. : Crafting an Effective Compliance Program707
Chapter 20: Going Public; and Appendix 20-A
  • 20.1 : Introduction717
  • 20.2 : Preparing for an IPO719
    • A. : The Underwriters719
    • B. : The Trading Market719
    • C. : Work Streams720
  • 20.3 : IPO Process and Timeline722
    • A. : The Registration Statement and SEC Review722
    • B. : The Road Show and Pricing723
    • C. : Gun Jumping723
  • 20.4 : Drafting the Prospectus724
    • A. : Prospectus Summary
    • B. : Risk Factors725
    • C. : Use of Proceeds725
    • D. : Capitalization, Dilution and Selected Financial Data725
    • E. : Management’s Discussion & Analysis of Financial Condition and Results of Operations726
    • F. : Business726
    • G. : Management and Compensation726
    • H. : Principal Stockholders and Transactions with Related Parties727
    • I. : Description of Securities727
    • J. : Underwriting727
    • K. : Financial Statements and Other Data727
  • 20.5 : Conducting the Road Show728
  • 20.6 : Additional Documentation728
    • A. : The Underwriting Agreement729
    • B. : Lock-Up Agreements729
    • C. : Comfort Letters729
    • D. : Other Closing Documents729
    • E. : Additional Filings730
  • 20.7 : Post-IPO Matters730
  • Appendix 20-A : Sample Risk Factors734
Chapter 21: Selling a Fashion Company or Fashion Brand; and Appendices 21-A to 21-B
  • 21.1 : Introduction743
  • 21.2 : The Sale Process744
    • A. : Potential Buyers745
    • B. : Due Diligence746
    • C. : Confidentiality and Standstill Agreements747
  • 21.3 : The Transaction Structure747
    • A. : Form of Transaction747
    • B. : Purchase Price748
      • : Cash748
      • : Equity Securities of the Buyer748
      • : Buyer Promissory Notes749
    • C. : Purchase Price Adjustment Mechanisms750
    • D. : Contingent Payment Mechanisms751
      • : Earn-Outs751
      • : Royalty Rights752
  • 21.4 : Ancillary Agreements753
  • 21.5 : Risk Allocation755
    • A. : Representations and Warranties755
    • B. : Covenants757
    • C. : Indemnities757
    • D. : Escrow Arrangements758
  • 21.6 : Closing Conditions and Termination Rights758
  • 21.7 : Illustrative Acquisitions in the Fashion Industry760
    • A. : Transaction With a Simultaneous Signing and Closing760
    • B. : Transaction With an Interval Between Signing and Closing760
  • Appendix 21-A : Sample Earn-Out Provision763
  • Appendix 21-B : Sample Fashion Industry Representations and Warranties767
  Conclusion
  Table of Authorities
  Index

  Please click here to view the Table of Authorities: Table of Authorities  
 

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