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Headlines



Obama Seeks to Return Tax Breaks to Small Businesses
President Barack Obama sought to revive a plan to give small businesses tax breaks and help start-up firms, ideas he proposed over the last year and which will feature in his 2013 budget next month, the White House said. Obama was set to tell a meeting of his cabinet that a top priority in this election year was to have Congress eliminate capital gains for investments in small businesses and extend some deductions for equipment and software purchases, to help smaller firms grow faster and create more jobs.
(Source: The New York Times, 2012-01-31) Read the full article
P.E. Council Launches Campaign to Educate About Industry
Private-equity firms, preparing for a tough year of attacks in the presidential race and by Capitol Hill Democrats, are launching an education campaign designed to mitigate the damage and improve the industry's image. The Private Equity Growth Capital Council (PEGCC), trade association for private equity, has unveiled "Private Equity at Work," an online campaign aimed at the media, policy makers and the public.
(Source: Politico, 2012-02-03) Read the full article
Wealthy Americans Pouring Funds into Small Companies
It's not unusual for America's wealthiest individuals to invest through angel groups or sit on boards at venture capital firms. But these days the superrich also want to own and operate small companies where their deep pockets and powerful networks can create growth, says Mindy Rosenthal, executive director of the Institute for Private Investors in New York, whose membership consists of 1,100 investors, each with minimum investible assets of $30 million.
(Source: Bloomberg Businessweek, 2012-01-27) Read the full article
More States Stamping Out Tax Breaks for Angel Investors
Tax breaks for angel investors have cropped up in recent years in about two dozen states as a means of stimulating job growth. But the effectiveness of the incentives -- which range from breaks on 15 percent of funding in Colorado to 100 percent in Hawaii -- are coming under greater scrutiny, particularly as states face budget pressure.
(Source: The Wall Street Journal, 2012-02-02) Read the full article
Companies Concerned Over SEC Request to Disclose Cyberattacks
Deluged by cyberattacks they've mostly hidden from the public, companies in Silicon Valley and elsewhere are being prodded by federal regulators to finally fess up to this fast-growing threat to their businesses and their customers. Corporate hacking costs companies and consumers billions of dollars a year, experts say, and has ensnared corporations ranging from online shoe retailer Zappos.com to valley tech giant Google, but before these new rules from the Securities and Exchange Commission, the full extent of the problem has been unknown, since big businesses are loath to provide many if any details, fearing embarrassment and concerned about adding to the harm.
(Source: SiliconValley.com (free reg. req'd), 2012-01-26) Read the full article
CEOs of Venture-Backed Companies Hopeful for Good Year in 2012
Though the economy is recovering more slowly than most Americans hoped, start-up CEOs are seeing blue skies ahead for the coming year -- and CEOs of venture-backed companies are the most cheery of all. According to a new poll of its members by ExpertCEO, 80.4 percent of chief executives expect revenue to increase for their companies in 2012, while 13.8 percent expect it to remain flat and only 5.8 percent think revenue will decline.
(Source: The Wall Street Journal, 2012-02-03) Read the full article
Corporate America Tries to Harness Power of Social Media
The power of social media -- or, at least, its potential power -- is not lost on American companies. Many are using it successfully for everything from new-product marketing to employee collaboration to innovative and very effective forms of customer service, but most companies are struggling mightily to turn nascent, ad hoc efforts into something resembling an actual strategy.
(Source: CFO.com, 2012-02-01) Read the full article
December Small Biz Borrowing Reached Highest Level in Four Years
Borrowing by U.S. small businesses rose in December to the highest level in more than four years, pointing to continued strength in an important corner of the economy. The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, jumped 19 percent in December, its 17th consecutive double-digit rise, PayNet said.
(Source: Reuters, 2012-02-01) Read the full article
Headlines
USPTO Issues Proposed Rules to Implement America Invents Act

In January 2012, the United States Patent and Trademark Office (USPTO) published proposed multiple sets of rules aimed at implementing the America Invents Act (AIA), which was enacted on Sept. 16, 2011. The publication is the first in a series of Notices of Proposed Rulemaking in the Federal Register related to proposed rules implementing various provisions of the AIA. The proposed new rules address five provisions of the new law.

Read full article online.

Congratulations to Scott Dorsey and ExactTarget for Helping to Make the 2012 Indianapolis Super Bowl the "Most Connected" Game in History

Ice Miller is proud to recognize the efforts of Scott Dorsey, chairman of the Host Committee's marketing and communications division. The committee used a variety of key components to help make Super Bowl 2012 one of the most ‘most connected’ in history, giving fans multiple ways to interact and ask questions via mobile, social media, the Web and email.

More information is available online at www.IndianapolisSuperBowl.com/stay-connected.

By The Numbers

In a year when fund-raising was difficult for most venture firms, investors poured $32.6 billion into U.S.-based companies in 2011, a 10 percent increase over 2010.

Source: Dow Jones VentureWire

Private Equity and Venture
Services Group

Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them.  We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

Read the complete profile of the Private Equity and Venture Services Group.

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Haley Altman Patrick Kennedy
Mark Baggio Jill Koehlinger
Timothy Capen Dean Leffelman
Joshua Christie Laurie Miller
Kristine Danz Michael Millikan
Joseph DeGroff Robert Ouellette
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Stephen Edwards Jennifer Rhodes
Eric Goodman Devin Schaffer
Stephen Hackman Brent Showalter
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Paul Hogan Elizabeth Thomas
Laura Hult John Thornburgh
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This publication is intended for general information purposes only and does not and is not intended to constitute legal advice.  The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.