Faegre Drinker

As we usher in a new year and reflect on the end of another, we’re filled with gratitude for our clients, colleagues, families and friends. Wishing you and your loved ones a safe and healthy conclusion to 2024!

A Faegre Drinker team led by Ryan Miske served as legal counsel to Cervano Capital in its launch as an independent sponsor. Cervano’s launch reflects its commitment to working closely with founders to address key growth opportunities, enhance operational efficiencies, and preserve the unique culture and values of the businesses it supports. The launch team also included Mark Weakley, Jeremy Kollitz, Sean FitzGerald, Shane Solinger and Mark Kaske.

“I’ve been lucky that our firm attracts tremendous talent and tremendous people that I get to work with.” These were the words of Michael Stewart in a profile by the Minnesota Lawyer honoring him and his recognition as a “Minnesota ICON” for his years of service to Minnesota’s legal community and Faegre Drinker. Mike’s career with the firm dates to 1979, when he joined as a summer associate. A mere eight years later, Mike was part of a legal team in a U.S. Supreme Court case still used as precedent today. Today, Mike represents clients in all aspects of the finance industry, including lenders and investors, and is well-versed in corporate restructuring strategy. He has worked with large institutions, such as U.S. Bank, Wells Fargo and Cargill. Congratulations, Mike!

Drew Soshnick's latest article in the Indiana Lawyer, examines the Indiana Supreme Court's distinction between personal and enterprise goodwill. As part of his analysis, Drew notes that Indiana's approach remains accurate and needs no reassessment.

In a Law360 article, Lauren Wright Linderman, Matthew Burkhart and Bryan Washburn discuss significant developments in trade secret law, focusing on four key updates: 1. Extraterritorial reach of the Defend Trade Secrets Act 2. Differing guidance on proving unjust enrichment damages 3. FTC's rule banning most employment noncompete agreements, which was struck down by the courts 4. A case that provided guidance on postinjunction remedies for a trade secret plaintiff

Speaking with Minnesota Lawyer, Amy Seidel reflected on her experience as a woman in the legal industry. Amy shared that the biggest change she has seen over the course of her career is “many more women as partners and in leadership roles. When more women see women succeeding, they feel that ‘This is a job and place you can be.’ It’s been a slow evolution, with more and more role models for women.” She also notes a generational shift in law firm marketing, moving away from traditional male-centric activities to more inclusive and creative approaches. “They have gotten more creative in enabling marketing to a wider variety of people. At our firm, we have been doing more family-friendly business development and marketing events.”

Without a doubt, 2024 was a roller coaster of a year for employers in the area of noncompete law. Here are the top 10 noncompete developments from this year ⬇️ 1. FTC’s attempt to ban most noncompete agreements nationwide 2. NLRB’s memo by way of their GC further attacking noncompetes 3. Statutes enacted by several states limiting the use of noncompete agreements for health care practitioners 4. Governors of ME and RI vetoing legislation that would have banned most noncompetes in those states 5. New York legislature passing a bill to prohibit any future use of noncompete agreements in that state 6. Minnesota enacting a new law banning restrictive covenants in service contracts 7. California broadening noncompete protections for its residents 8. Washington expanding noncompete protections 9. Delaware’s Court of Chancery continues to push back on the enforcement of overbroad noncompete agreements, and Minnesota federal court follows the lead 10. Not all is lost for employers; appropriately crafted noncompetition agreements are still enforceable Chuck Knapp and Erik Mosvick unpack these developments in detail in this alert.

Season’s greetings and warmest wishes from all of us to you! ✨

Significant changes to ethics rules and regulations related to AI have taken place, largely driven by President Biden's October 2023 executive order on the development and use of AI. But what does that mean for patent attorneys? X. Christina Huang, Ph.D., John Smith and Devin Stein unpack the answer to this question in an article for Law360. They cover, among other topics, the USPTO’s guidance on the subject matter eligibility of AI-assisted inventions from July, as well as the USPTO’s communications throughout the year about the inventorship guidance for AI-assisted inventions and guidance on use.

As 2024 winds down, it’s time to once again reflect on some of the most significant legal developments for drug and device companies this year. Hannah Anderson, Christine Kain and Caroline Wadman, JD, MPH focused on these five developments affecting drug and device law ⬇️ 1. California Court of Appeals has effectively imposed a duty on manufacturers to promptly develop and commercialize alternative products if they are safer for a subset of consumers 2. EU’s Product Liability Directive 3. Federal Rule of Civil Procedure 16.1, a rule change directed specifically at multidistrict litigation 4. New causation standard in failure-to-warn cases involving prescription drug and medical device manufacturers, created by the California Supreme Court 5. Notable interpretations of the new Rule 702