Author: Krunali Shroff

Nov 12, 2021

Metaverse: The Next Commercial Frontier

It appears that the next commercial frontier is the so-called “metaverse.” The term “metaverse” was first used in science fiction novels. It combines the word “universe” with the prefix “meta,” which comes from a Greek word meaning “beyond.”[1] In the technical sphere, the “metaverse” is some form of a virtual universe that is the style being defined. Several technology and gaming companies have entered the fray of defining what this metaverse will be. An American writer, Neal Stephenson, referred to his idea of the metaverse in his 1992 science-fiction novel Snow Crash. Stephenson envisioned an immersive virtual world where people… Read more

Oct 5, 2021

Negotiating Cell Site Leases that Involve Redevelopment Issues

Owners of commercial real estate, regardless of the property type, try to utilize every aspect of their property to maximize revenue and create additional value.  For example, many landlords often look at building rooftops and other generally “unused” areas on their property to generate additional rental income by leasing those areas to tenants with “specialized space needs.”  Any income generated from the roof or any unused portion of property is often considered by the property owner to be “found money” and the terms of those “specialized space” leases (including the rental income generated by these leases) are often not analyzed… Read more

Sep 21, 2021

United States: Attorney Recognition Rule Changes

INTA Bulletin | September 15, 2021 | Vol. 76 Issue 36 Verifier: Scott D. Woldow – Smith, Gambrell & Russell, LLP | Trademark Office Practices Committee—USPTO Subcommittee Scot A. Duvall – Middleton Reutlinger | Trademark Office Practices Committee—USPTO Subcommittee To implement provisions of the Trademark Modernization Act of 2020, in May 2021, the U.S. Patent and Trademark Office (USPTO or Office) issued a Notice of Proposed Rulemaking (NPRM) proposing changes to the Trademark Rules of Practice (TMRP). The public comment period expired on July 19, 2021. Notable among the proposed changes are (in Section VI) a new procedure for attorney recognition… Read more

Jun 24, 2021

U.S. v. Arthrex Case Creates a New Path to Challenge IPR Decisions

As a result of yesterday’s Supreme Court’s decision in U.S. v. Arthrex, any party dissatisfied with the result of an Inter Partes Review (IPR) can now seek review by the Director of the Patent and Trademark Office (PTO). Previously, and as codified by the America Invents Act (AIA), IPR decisions were appealed directly to the U.S. Court of Appeals for the Federal Circuit, with no possible review at the PTO.  Yet to be determined will be the details of how this extra appeal step is to be implemented.   And will, for example, the Director really have time, resources and responsibility for reviewing… Read more

Jun 11, 2021

Good News for Cooperatives from the NY Legislature Regarding the Removal of Restrictions on Cooperatives Imposed in 2019

We are pleased to report that legislation (Senate Bill S5105) has passed both houses of the NY State Legislature relieving cooperatives of a number of restrictions that were applied to them along with conventional rental landlords when the Legislature enacted new tenant protection provisions as part of the Housing Stability and Tenant Protection Act of 2019. In particular, the current bill, which is now pending signature by the Governor, would remove or substantially modify the restrictions that had been imposed on cooperatives regarding (i) late charges, (ii) the ability to require security deposits as a condition of the approval of… Read more

Jun 7, 2021

Beware Amending a Lease Where There Is an Existing SNDA

Most commercial real estate leases are located on property encumbered by a deed of trust. The rental stream from these leases is a major factor in the lender’s valuation of the real property as its security and its underwriting of the loan. The rental stream is also the borrower’s source of funds to make its monthly loan payments to the lender.  Before making the loan, the lender will review the existing leases to determine if those leases are acceptable to it and support the loan. The lender will also decide if it wants any of the existing tenants to subordinate… Read more

May 5, 2021

Avoiding the Most Common Mistake Tenants Make When Renewing a Commercial Lease

Many tenants think renewing a commercial lease or exercising a pre-existing and pre-negotiated option to expand or extend is an easy process that can be handled without the involvement of a lawyer.  It’s not.  Oftentimes a landlord is more willing to give legal or financial benefits to a new tenant and not offer these same benefits to an existing tenant.  An existing tenant often feels that they have been a “good” tenant (i.e., paying on time, not making complaints, etc.) and that the landlord will take this into account and offer them the same incentives it would offer to a… Read more

Jan 14, 2021

Issues for Cooperatives in the Paycheck Protection Program

Authored by: Sean Altschul, Eric Balber, Michael Manzi, Stephen O’Connell, Todd Pickard, Robin Silberzweig, Lisa Smith, John Van Der Tuin, Eliot Zuckerman, Amanda Attenasio, Edward Heppt, and Dexterrie C. Ramirez When the Paycheck Protection Program (PPP) was enacted as part of the CARES Act in March 2020 there was considerable uncertainty as to whether residential cooperatives were eligible to participate.  Eventually, the Small Business Administration advised lenders that neither cooperatives nor condominiums were eligible. The Consolidated Appropriations Act of 2021, signed into law on December 27, 2020, appropriated additional funding for the PPP and specifically added “housing cooperatives” to eligible… Read more

Dec 21, 2020

Indemnity Rights of Condominium Board Members

An appellate court decision issued on November 19th raises concerns that condominium board members may be exposed to unexpected personal liability in connection with their board service.  In light of the decision, condominium boards should carefully examine the board member indemnification provisions of their bylaws. In Board of Managers of the 28 Cliff St. Condominium v. Maguire, the former board president was sued by the current board of managers for misuse of condominium funds.   The former president, defendant Maguire, disputed the claim of misuse and sought an order from the court requiring the condominium to indemnify her for the costs… Read more

Nov 17, 2020

SGR’s Intellectual Property Practice Ranked in U.S. News – Best Lawyers as “Best Law Firm”

SGR is proud to announce that the Firm’s Intellectual Property Practice has again been named to the 2021 “Best Law Firms” list by U.S. News – Best Lawyers, ranked nationally and in Atlanta, Washington D.C., and Jacksonville. National Patent Law Biotechnology Law Trademark Law Litigation – Intellectual Property   Washington, D.C. Biotechnology Law   Atlanta Litigation – Intellectual Property Patent Law Litigation – Patent Trademark Law   Jacksonville Litigation – Intellectual Property For a full listing of SGR’s practice groups that have been ranked, click here