Jiyoung Won

U.S. companies that collect and store sensitive personal data have until July 8, 2025 to comply with a new Department of Justice rule, known as the Data Security Program (“DSP”). What is the Data Security Program? The DSP prohibits U.S. companies from sharing bulk sensitive personal data with individuals or entities from countries identified as foreign adversaries, including but not limited to China, Russia, Cuba, Venezuela, and Iran (“Covered Person(s)”). Under the program, sensitive personal data is defined broadly and is not limited to traditional "PII", such as social security numbers and bank account information.  Instead, the DSP aims to protect a much broader scope of information, including but not limited to human genomic information, geolocation information, biometric and health information, and financial information. Additionally, the DSP applies to government-related data, including any precise geolocation data and sensitive personal data that a transacting party markets as linked or linkable to certain current or recent former U.S. government employees....

In this article, attorneys Gianfranco Pietrafesa and Jiyoung Won highlight the importance of meeting minutes for both legal compliance under New Jersey law and sound corporate governance. It outlines when minutes should be prepared, what they should include, and emphasizes that attorneys should consult the New Jersey Business Corporation Act and key legal texts to ensure proper documentation practices....

Clients often ask whether they should form their business entity in Delaware. Delaware is an ideal jurisdiction for public companies and private companies with venture capital and private equity investors. However, Delaware may not be ideal for a local business operating in New Jersey, New York, Pennsylvania, or Texas. For example, if a business is formed in Delaware, but will be operated in another state, the business will have to file papers and pay initial and likely annual fees in two states. For many clients, forming a business in New Jersey, New York, Pennsylvania or Texas is perfectly acceptable. This paper describes some of the advantages and disadvantages of forming a business entity in Delaware, and then outlines the initial and annual costs involved in forming a corporation or limited liability company in New Jersey, New York, Pennsylvania, Texas, and Delaware.There are some advantages of being a Delaware company, but they are probably not important to most small businesses operating in New Jersey, New York, Pennsylvania, or Texas. The advantages are:...