TreatiseTreatise

A Starter Guide to Doing Business in the United States

 by Woon-Wah Siu, Pillsbury Winthrop Shaw Pittman LLP
 
 Copyright: 2016

 Product Details >> 

Product Details

  • ISBN Number: 9781402426117
  • Page Count: 364
  • Number of Volumes: 1
  •  

A Starter Guide to Doing Business in the United States is a helpful resource for non-U.S. businesses, foreign attorneys, law firm associates and new entrepreneurs launching a new business in the United States. Edited by Woon-Wah Siu (Pillsbury Winthrop Shaw Pittman LLP), this book covers the main legal and regulatory issues to be considered before entering the U.S. market, including:

  • Choice of a business entity—describing the requirements for a corporation, LLC, partnership, and sole proprietorship
  • Federal securities law—discussing the major statutes, provisions and regulations controlling the creation and exchange of business interests, including what is required to qualify as a Foreign Private Issuer
  • Buying a company: the M&A process—highlighting each step of the process and the differences between buying a U.S. company and a non-U.S. company
  • Employment considerations—providing guidance on the issues that arise when hiring employees in the U.S.
  • Equity incentives for U.S. employees—comparing the permissible types of equity incentives and the relevant tax and accounting treatment of such incentives
  • Immigration law—describing the requirements for the various types of employment-related visas and other business-related provisions
  • U.S. international trade law—exploring the many major statutes and international agreements that regulate importing into, exporting out of, or investing in the United States
  • Protecting intellectual property—describing the kinds of protections in the U.S., how to derive maximum value from your IP through licensing, and how to assert or defend your IP in litigation
  • Environmental law—describing the requirements mandated by major federal and state statutes and regulations, as well as providing suggestions on successful compliance strategies
  • Taxation—describing the many kinds of taxes affecting trade and business, and focusing on the differing treatment of U.S. persons versus non-U.S. persons, as well as U.S. source versus non-U.S. source income
  • Litigation—providing a general discussion of the structure of the court systems in the United States as applied to civil cases, the terminology and procedure generally used in U.S. courts, enforcement of court judgments, and specialized tribunals, arbitration and mediation.
A Starter Guide to Doing Business in the United States also includes discussion of U.S. commercial real estate transactions, regulation of the energy sector, products liability law, and business insurance. It provides useful charts, tables, best practices and highlighted tips throughout.
  Preface
  Table of Contents
Chapter 1: Choice of a Business Entity
  • § 1:1 : Introduction2
  • § 1:2 : Major Types of Business Entities in the United States2
    • § 1:2:1 : Corporations2
      • § [A] : Advantages and Disadvantages of Corporations3
  • Table 1-1 : Advantages and Disadvantages of Corporations3
    • [B] : Forming a Corporation4
    • [C] : Managing a Corporation4
    • [D] : Choosing a State in Which to Set Up a Corporation5
    • § 1:2.2 : Partnerships5
      • [A] : Advantages and Disadvantages of Partnerships6
  • Table 1-2 : Advantages and Disadvantages of Partnerships7
    • [B] : Forming a Partnership7
    • [C] : Managing a Partnership8
    • § 1:2.3 : Limited Liability Companies (LLCs)8
      • [A] : Advantages and Disadvantages of LLCs8
  • Table 1-3 : Advantages and Disadvantages of Limited Liability Companies9
    • [B] : Forming an LLC10
    • [C] : Managing an LLC10
    • § 1:2.4 : Sole Proprietorships11
    • § 1:2.5 : Branches11
  • § 1:3 : Considerations in the Choice of Entity11
    • § 1:3:1 : Nature of the Business12
    • § 1:3:2 : Ability to Expand and Grow12
    • § 1:3:3 : Liability Protection12
    • § 1:3:4 : Tax Treatment and Consequences12
  • § 1:4 : Conclusion13
Chapter 2: Introduction to Federal Securities Laws
  • § 2:1 : Introduction16
  • § 2:2 : Foreign Private Issuer16
  • § 2:3 : Securities Act of 193317
  • § 2:4 : Securities Exchange Act of 193420
  • § 2:5 : Annual and Periodic Reporting Obligations22
    • § 2:5.1 : Annual Report23
    • § 2:5.2 : Quarterly Reports on Form 10-Q23
    • § 2:5.3 : Current Reports on Form 8-K24
    • § 2:5.4 : Proxy Rules and Shareholder Meetings25
    • § 2:5.5 : Regulation FD—Fair Disclosure26
    • § 2:5.6 : Section 16—Short-Swing Profit Recapture27
    • § 2:5.7 : Reports of Beneficial Ownership Under Section 1628
    • § 2:5.8 : Reports Under the Williams Act (1934 Act Sections 13(d) and 13(g))29
    • § 2:5.9 : Section 10(b) and Rule 10b-530
    • § 2:5.10 : Sarbanes-Oxley Act of 200230
    • § 2:5.11 : Dodd-Frank Wall Street Reform and Consumer Protection Act31
    • § 2:5.12 : Jumpstart Our Business Startups Act32
    • § 2:5.13 : Fixing America’s Surface Transportation Act33
  • § 2:6 : State Securities Law33
Chapter 3: M&A Process in the United States
  • § 3:1 : Introduction36
  • § 3:2 : Some Key Terms36
  • § 3:3 : How U.S. Companies May Differ from Non-U.S. Companies36
    • § 3:3.1 : Shares of Stock37
    • § 3:3.2 : Role of the Board of Directors37
    • § 3:3.3 : Shareholders’ Rights37
    • § 3:3.4 : Role of the Government38
  • § 3:4 : The Decision to Buy38
  • § 3:5 : The Cast40
  • § 3:6 : Steps in the Acquisition Process41
    • § 3:6.1 : Finding a Target41
    • § 3:6.2 : Valuation41
    • § 3:6.3 : Letter of Intent43
    • § 3:6.4 : Due Diligence44
    • § 3:6.5 : Definitive Agreement44
    • § 3:6.6 : Between Signing and Closing45
    • § 3:6.7 : Buying Distressed Businesses46
  • § 3:7 : Regulatory Requirements47
    • § 3:7.1 : BEA Filing47
    • § 3:7.2 : Hart-Scott-Rodino Act48
    • § 3:7.3 : Exon-Florio Amendment48
    • § 3:7.4 : Other Federal and State Restrictions48
Chapter 4: Employment Considerations
  • § 4:1 : Introduction52
  • § 4:2 : Overview of Key Employment Statutes52
    • § 4:2.1 : Federal Statutes52
      • [A] : Title VII of the Civil Rights Act of 1964 (Title VII)52
      • [B] : Age Discrimination in Employment Act (ADEA)54
      • [C] : Equal Pay Act54
      • [D] : Americans with Disabilities Act (ADA)55
      • [E] : Family and Medical Leave Act (FMLA)55
      • [F] : Uniformed Services Employment and Reemployment Rights Act (USERRA)55
      • [G] : Fair Labor Standards Act (FLSA)55
      • [H] : National Labor Relations Act (NLRA)56
      • [I] : Affordable Care Act (ACA)56
      • [J] : Employee Retirement Income Security Act (ERISA)57
    • § 4:2.2 : State Statutes57
    • § 4:2.3 : Local Statutes58
  • § 4:3 : Recruiting58
  • § 4:4 : Hiring59
  • § 4:5 : Documentation of the Employment Relationship60
  • § 4:6 : Issues Regarding the Family and Medical Leave Act and the Americans with Disabilities Act61
  • § 4:7 : Fair Labor Standards Act62
  • § 4:8 : Termination Considerations63
    • § 4:8.1 : Individual Terminations64
    • § 4:8.2 : Layoffs or Reductions in Force65
    • § 4:8.3 : Separation Agreements and Releases65
    • § 4:8.4 : Rehire Policies66
  • § 4:9 : Federal Contractors66
  • § 4:10 : Conclusion67
Chapter 5: Equity Incentives for U.S. Employees; and Appendix 5A
  • § 5:1 : Introduction70
  • § 5:2 : Types of Equity Incentives70
  • § 5:3 : U.S. Securities Law Requirements72
    • § 5:3.1 : Securities Act of 1933—Registration72
    • § 5:3.2 : Securities Exchange Act of 1934—Registration74
    • § 5:3.3 : State Blue Sky Laws75
  • § 5:4 : Employee Tax and Social Security75
  • § 5:5 : Tax Deduction by the Employer79
    • § 5:5.1 : Additional Restrictions, Limitations, and Considerations79
  • § 5:6 : Internationally Mobile Executives80
    • § 5:6.1 : Income Taxes80
    • § 5:6.2 : FICA Taxes81
  • § 5:7 : Reporting Requirements81
  • § 5:8 : Exchange Control Issues82
  • § 5:9 : Employment Law82
  • § 5:10 : Data Protection82
  • Appendix 5A : U.S. Taxation and Accounting Treatment of Various Types of Long-Term Equity Compensation85
Chapter 6: United States Immigration Law
  • § 6:1 : Introduction98
  • § 6:2 : Visitor Visas98
    • § 6:2.1 : B-1 Visa—Business Visitor Visa98
    • § 6:2.2 : B-2 Visa—Visitor for Pleasure Visa99
    • § 6:2.3 : Visa Waiver Program99
    • § 6:2.4 : H-1B Visa—Visa for Temporary Worker in a Specialty Occupation99
    • § 6:2.5 : L-1 Visa—Intracompany Transferee Visa100
    • § 6:2.6 : E Visa—Treaty Trader and Investor Visa101
    • § 6:2.7 : O Visa—Visa for Individual of Extraordinary Ability or Achievement102
    • § 6:2.8 : Work Authorization for Practical Training102
      • [A] : F-1 Visa—Practical Training103
      • [B] : J-1 Visa—Practical Training103
    • § 6:2.9 : EB-5 Visa—Immigrant Investor Program103
      • [A] : Investment in a New Commercial Enterprise103
      • [B] : Capital Investment104
      • [C] : Job Creation104
      • [D] : Regional Center105
      • [E] : Removal of “Conditional” Status105
  • § 6:3 : Immigration Law Compliance105
Chapter 7: United States International Trade and Investment
  • § 7:1 : Introduction108
  • § 7:2 : Overview of Importing and Exporting110
  • § 7:3 : Importing into the United States111
    • § 7:3.1 : Customs111
    • § 7:3.2 : Import Duties112
    • § 7:3.3 : Policy Affecting Import Duties112
      • [A] : World Trade Organization112
      • [B] : Free Trade Agreements113
      • [C] : Preferences114
  • § 7:4 : Trade Remedies115
    • § 7:4.1 : Antidumping and Countervailing Duty Remedies116
      • [A] : GPX International Tire Decision and Subsequent Legislation117
      • [B] : Double Counting118
      • [C] : Zeroing118
    • § 7:4.2 : Section 201119
    • § 7:4.3 : Section 301119
    • § 7:4.4 : Section 337119
    • § 7:4.5 : Other Regimes Affecting Imports120
      • [A] : U.S. Department of Agriculture120
      • [B] : U.S. Food and Drug Administration120
      • [C] : Bureau of Alcohol, Tobacco, Firearms, and Explosives121
      • [D] : Consumer Protection121
  • § 7:5 : Export from the United States122
    • § 7:5.1 : Export Administration Regulations122
      • [A] : China, Russia, and Venezuela Military End-Use or Military End-User Restrictions124
      • [B] : End-User Restrictions124
      • [C] : Validated End-User Program124
    • § 7:5.2 : International Traffic in Arms Regulations125
      • [A] : Arms Embargos126
      • [B] : Export Control Reform126
    • § 7:5.3 : Nuclear Export Controls127
    • § 7:5.4 : Sanctions Policy128
      • [A] : Blocking130
      • [B] : Causing a Violation130
    • § 7:5.5 : Antiboycott Law131
  • § 7:6 : Other Rules Affecting Trade, Business, and Transactions in the United States or with U. S. Companies132
    • § 7:6.1 : Foreign Corrupt Practices Act133
      • [A] : Anti-Bribery Provisions134
      • [B] : Risks to Foreign Entities and Individuals134
    • § 7:6.2 : Anti–Money Laundering136
    • § 7:6.3 : Data Privacy and Protection138
      • [A] : Federal Law139
      • [B] : State Law139
  • § 7:7 : Rules Affecting Investment in the United States140
    • § 7:7.1 : Committee on Foreign Investment in the United States141
    • § 7:7.2 : Protections for Investors in the United States142
  • § 7:8 : Federalism and the Role of State Law144
Chapter 8: Commercial Real Estate Transactions
  • § 8:1 : Introduction148
  • § 8:2 : Ownership Interests in Real Property148
    • § 8:2.1 : Fee Simple148
    • § 8:2.2 : Ground Leases148
    • § 8:2.3 : Tenants in Common149
  • § 8:3 : Due Diligence Prior to the Acquisition of Real Property149
    • § 8:3.1 : Title Insurance149
    • § 8:3.2 : Survey150
    • § 8:3.3 : Environmental Assessment150
    • § 8:3.4 : Property Level Due Diligence150
  • § 8:4 : Real Estate Development151
    • § 8:4.1 : Land Use Restrictions151
      • [A] : Local Zoning Regulations151
      • [B] : Private Covenants152
    • § 8:4.2 : Environmental Regulations152
  • § 8:5 : Real Estate Transaction Documents152
    • § 8:5.1 : Acquisitions and Dispositions152
    • § 8:5.2 : Finance153
  • § 8:6 : Commercial Leases154
    • § 8:6.1 : Basic Issues154
    • § 8:6.2 : Brokers155
    • § 8:6.3 : Tenant Improvements155
      • [A] : Tenant Build155
      • [B] : Turnkey156
      • [C] : Landlord Build with Allowance156
Chapter 9: Intellectual Property
  • § 9:1 : Introduction157
  • § 9:2 : Types of IP158
  • § 9:3 : Protecting Your IP in the United States159
    • § 9:3.1 : Patents160
    • § 9:3.2 : Trademarks162
    • § 9:3.3 : Copyrights163
    • § 9:3.4 : Trade Secrets164
  • § 9:4 : IP Litigation165
    • § 9:4.1 : Patents166
      • [A] : Court Proceedings166
      • [B] : USPTO Proceedings168
    • § 9:4.2 : Trademarks169
    • § 9:4.3 : Copyrights170
    • § 9:4.4 : Trade Secrets170
    • § 9:4.5 : Cost Considerations171
  • § 9:5 : Licensing172
  • § 9:6 : Practical Considerations172
Chapter 10: Energy Regulation in the United States
  • § 10:1 : Introduction176
  • § 10:2 : Electricity177
    • § 10:2.1 : FERC’s Authority177
    • § 10:2.2 : Organization of the Market178
  • Figure 10-1 : Electricity Retail Choice States, 2010180
    • § 10:2.3 : Transmission System180
    • § 10:2.4 : Siting and Construction of Facilities181
    • § 10:2.5 : Some Recent FERC Incentives183
    • § 10:2.6 : Role of ISOs185
  • Figure 10-2 : North American Grid Operators186
    • § 10:2.7 : Impact of EPA Regulation on Power Markets188
  • Figure 10-3 : State Policies on Renewable Portfolio Standards189
  • § 10:3 : Natural Gas190
    • § 10:3.1 : Overview of the Domestic Sector190
    • § 10:3.2 : Exploration and Production191
    • § 10:3.3 : Transmission, Storage, and Distribution191
    • § 10:3.4 : Sales and Trading193
    • § 10:3.5 : Role of the United States in the Global LNG Market194
  • § 10:4 : Oil196
    • § 10:4.1 : Generally196
    • § 10:4.2 : Sources of Law197
    • § 10:4.3 : Impact of Treaties197
  • § 10:5 : Nuclear Energy198
    • § 10:5.1 : Role of the Nuclear Regulatory Commission198
      • [A] : What the Nuclear Regulatory Commission Regulates198
      • [B] : The NRC’s Enforcement Program199
    • § 10:5.2 : Regulating Foreign Ownership and Participation in Nuclear Industry Projects200
      • § [A] : Foreign Investment in a Nuclear Project200
      • § [B] : U.S. Export Controls201
    • § 10:5.3 : Other Items of Interest to Non-U.S. Investors203
      • [A] : Financial Protection for Nuclear Incidents—Price-Anderson Act203
      • [B] : New Reactor Licensing205
      • [C] : Advanced Reactor Licensing206
  • § 10:6 : Foreign Investments in the Energy Sector; CFIUS207
Chapter 11: Environmental Law
  • § 11:1 : Introduction212
  • § 11:2 : Environmental Statutes212
    • § 11:2.1 : Clean Air Act212
    • § 11:2.2 : Clean Water Act213
    • § 11:2.3 : Comprehensive Environmental Response,Compensation, and Liability Act (CERCLA)213
    • § 11:2.4 : Resource Conservation and Recovery Act (RCRA)214
    • § 11:2.5 : Toxic Substances Control Act (TSCA)215
    • § 11:2.6 : Occupational Safety and Health Act (OSHA)215
  • § 11:3 : State Environmental Requirements216
  • § 11:4 : Corporate Disclosures216
  • § 11:5 : Common-Law Doctrines Related to Environmental Law217
  • § 11:6 : Litigation Trends217
  • § 11:7 : Legal Practices Within the Field of Environmental Law218
    • § 11:7.1 : Regulatory Compliance218
    • § 11:7.2 : Litigation218
    • § 11:7.3 : Business Transactions219
    • § 11:7.4 : Strategic Corporate Planning219
    • § 11:7.5 : Corporate Governance219
    • § 11:7.6 : Crisis Management220
  • § 11:8 : Conclusion220
Chapter 12: Taxation in the United States
  • § 12:1 : Introduction222
  • § 12:2 : Jurisdiction222
  • § 12:3 : U.S. Persons223
    • § 12:3.1 : Individuals223
    • § 12:3.2 : Entities224
  • § 12:4 : Taxpayers and Entity Classification226
  • § 12:5 : Source of Income227
  • § 12:6 : U.S. Income Taxation229
  • § 12:7 : U.S. Income Taxation of Non-U.S. Persons230
    • § 12:7.1 : Fdapi230
    • § 12:7.2 : Eci231
    • § 12:7.3 : U.S.-Source Capital Gains (Excluding Real Property Gains)232
    • § 12:7.4 : Foreign Investors in Real Property Tax Act of 1980 (FIRPTA)232
    • § 12:7.5 : Foreign Account Tax Compliance Act233
  • § 12:8 : Transfer Pricing235
    • § 12:8.1 : Tangible Personal Property235
    • § 12:8.2 : Services236
    • § 12:8.3 : Loans or Advances236
    • § 12:8.4 : Cost Sharing237
    • § 12:8.5 : Contemporaneous Documentation237
    • § 12:8.6 : Advance Pricing Agreements237
  • § 12:9 : Basic Structuring238
  • § 12:10 : Employment Taxes239
    • § 12:10.1 : IRS Factors for Classifying Workers239
    • § 12:10.2 : Exceptions to General IRS Rule240
Chapter 13: Litigation and Other Dispute Resolution Mechanisms
  • § 13:1 : Introduction244
  • § 13:2 : Structure of the U.S. Court System for Civil Cases245
    • § 13:2.1 : Relationship Between Federal and State Courts—Subject Matter Jurisdiction245
    • § 13:2.2 : Federal Courts246
      • [A] : U.S. District Courts246
      • [B] : U.S. Courts of Appeals246
      • [C] : U.S. Supreme Court246
    • § 13:2.3 : State Courts247
      • [A] : Courts of Limited Jurisdiction247
      • [B] : Courts of General Jurisdiction—Trial Courts247
      • [C] : Appellate Courts247
  • § 13:3 : An Overview of Civil Litigation247
    • § 13:3.1 : Initiation of a Civil Action247
    • § 13:3.2 : Personal Jurisdiction248
    • § 13:3.3 : Venue and Forum Non Conveniens249
    • § 13:3.4 : Motions to Dismiss249
    • § 13:3.5 : Discovery249
    • § 13:3.6 : Motions for Summary Judgment251
    • § 13:3.7 : Trials252
      • [A] : Time to Trial252
      • [B] : Jury Versus Bench Trials252
      • [C] : Limitation on Evidence at Trial253
    • § 13:3.8 : Post-Trial Motions254
    • § 13:3.9 : Appeals255
    • § 13:3.10 : Settlements255
  • § 13:4 : Enforcement of Court Judgments256
  • § 13:5 : Specialized Tribunals, Agencies, and Programs257
  • § 13:6 : Arbitration257
  • § 13:7 : Mediation and Other Alternative Dispute Resolution Programs259
  • § 13:8 : Examples of Important Substantive Areas of Litigation260
    • § 13:8.1 : Antitrust Litigation260
    • § 13:8.2 : Intellectual Property Litigation260
Chapter 14: Products Liability
  • § 14:1 : Introduction264
    • § 14:1.1 : Negligence264
    • § 14:1.2 : Breach of Warranty265
    • § 14:1.3 : Strict Liability265
  • § 14:2 : Standards of Care265
    • § 14:2.1 : Negligence265
    • § 14:2.2 : Warranty266
      • [A] : Express Warranty266
      • [B] : Implied Warranty267
      • [C] : No Contract Necessary267
    • § 14:2.3 : Strict Liability268
      • [A] : The “Unreasonably Dangerous” Test268
      • [B] : Burden of Proof269
      • [C] : Unavoidably Unsafe Products269
      • [D] : Unknowably Unsafe Products270
  • § 14:3 : Product Defectiveness270
    • § 14:3.1 : Manufacturing Defects270
      • [A] : Burden of Proof271
      • [B] : “Consumer Expectation” Test271
      • [C] : Intended Purpose271
    • § 14:3.2 : Design Defects272
      • [A] : Burden of Proof272
      • [B] : Negligence and Various Strict Liability Tests272
      • [C] : Utility Versus Risks272
      • [D] : Consumer Expectations273
      • [E] : Combined Test273
      • [F] : Current Trend273
      • [G] : Types of Cases274
        • [G][1] : Structural Defects274
        • [G][2] : Lack of Safety Feature Defects274
        • [G][3] : Unintended but Foreseeable274
    • § 14:3.3 : Duty to Warn275
      • [A] : Necessary Warnings275
      • [B] : Duties After the Sale276
      • [C] : Tests and Inspections276
      • [D] : Negligence276
  • § 14:4 : Damages277
    • § 14:4.1 : Compensatory Damages277
    • § 14:4.2 : Punitive Damages277
  • § 14:5 : Conclusion278
Chapter 15: Insurance
  • § 15:1 : Introduction280
  • § 15:2 : How Do Insurance Policies Work?280
    • § 15:2.1 : Insured281
    • § 15:2.2 : Insuring Agreement281
    • § 15:2.3 : Exclusions and Exceptions to Exclusions281
    • § 15:2.4 : First-Party Versus Third-Party Insurance283
    • § 15:2.5 : Policy Period; Occurrence Versus Claims-Made Policies285
    • § 15:2.6 : Forms286
    • § 15:2.7 : Endorsements286
    • § 15:2.8 : Governing Law286
  • § 15:3 : What Types of Insurance Should a Company Consider Buying?287
    • § 15:3.1 : Property Insurance287
    • § 15:3.2 : Workers’ Compensation Insurance and Employer’s Liability Insurance288
    • § 15:3.3 : General Liability Insurance289
    • § 15:3.4 : Excess or Umbrella Insurance289
    • § 15:3.5 : Business Interruption Insurance290
    • § 15:3.6 : Directors’ and Officers’ Liability Insurance290
    • § 15:3.7 : Professional Liability Insurance291
    • § 15:3.8 : Pollution Liability Insurance291
    • § 15:3.9 : Health Insurance291
    • § 15:3.10 : Life Insurance292
  • § 15:4 : How Does a Company Buy Insurance?292
  • § 15:5 : What Should a Company Do When It Has an Insurance Claim?292
  • § 15:6 : Conclusion293
  Index

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