Daily Three: June 24

1. Client Question: “I received ‘critical vendor’ documents from a company in bankruptcy. What is the legal significance of these documents, and what are my options?” If you receive a critical vendor letter and agreement, keep these things in mind to make a more informed business decision. Answered by Sean Williams and Harold Israel

2. The U.S. Patent and Trademark Office (PTO) has put in place a new COVID-19 prioritized examination program for certain trademark and service mark applications. Under this new program, the PTO will accept petitions to advance initial examination of applications for marks used to identify qualifying COVID-19 related medical products and services. Know if your IP qualifies for expedited examination. Authored by Mitch Weinstein

3. As an impact of COVID-19, a company that sponsors an employee stock ownership plan (“ESOP”) faces various issues unique to ESOPs that need to be considered in administering the ESOP both during and after the pandemic. Several of our ESOP clients have already contacted us with various questions about administering their ESOPs during this crisis. Discuss these issues among your management team, your board of directors and your ESOP trustee(s) as you navigate your ESOP-owned company through this pandemic. Authored by David Solomon, Ken Kneubuhler and Kristy Britsch

For more resources and LP's response to COVID-19, visit this webpage.