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WHAT WE'RE WATCHING

TURBO TAX - Happy New Year! Let's pretend 2020 was a nightmare brought on by some bad gas station sushi and look ahead to the rest of this year instead, shall we? For example, tax lawyers are gearing up for a busy 12 months, as corporate clients continue to work through the sweeping changes from the Trump administration's 2017 tax reform legislation and the economic impact of the COVID-19 pandemic forces cash-strapped states to seek new revenue sources, including tax increases, while federal and state tax authorities step up enforcement, Law.com's Meredith Hobbs reports. "We are telling our clients to expect new taxes, increases to existing taxes and heightened enforcement," said Jeff Friedman, head of Eversheds Sutherland's tax practice. He forecasts "one of the busiest legislative sessions ever for states on tax increases. We expect every state and locality to reconsider their taxing structure and consider additional sources of revenue."

TRUSTED ADVISORS - This year, tech companies would be wise to line up some trusted pros when it comes to antitrust (see what I did there?). Experts expect that a Democratic presidential administration led by President-elect Joe Biden will bring a new intensity to the antitrust space, particularly when it comes to the tech industry, Law.com's Dylan Jackson reports. Barry Nigro, who left the DOJ antitrust division as second-in-command to rejoin Fried, Frank, Harris, Shriver & Jacobson in November, said Democrats' interest in going "beyond the consumer welfare standard" will lead to a pronounced change in antitrust efforts. Meanwhile, increased federal action is likely to bring more lawsuits from the plaintiffs bar, according to Paul, Weiss, Rifkind, Wharton & Garrison partner Bill Isaacson, who regularly defends tech companies in antitrust actions. "You're seeing the beginnings of it this year, and it is certainly going to grow," Isaacson said.

BAD MEDICINE - Emergent BioSolutions, a Maryland-based drugmaker working to develop COVID-19 vaccines, sued Mutual Holistic on Dec. 30 in California Northern District Court over trademark claims. The lawsuit was brought by Crowell & Moring and Brinks Gilson & Lione, and alleges that the defendant is using Emergent's mark in marketing a cough syrup aimed at alleviating COVID-19 symptoms. Lawyers have not yet appeared for the defendants. The case is 5:20-cv-09452, Emergent BioSolutions Inc. v. Mutual Holistic, Inc. Stay up on the latest litigation with the new Law.com Radar.

EDITOR'S PICKS

WHILE YOU WERE SLEEPING

GOOD FOR BUSINESS - In landmark reforms to the United Arab Emirates' foreign direct investment (FDI) framework, the requirement for onshore companies to be owned 51% by UAE nationals has been scrapped, in amendments to a raft of laws due to come into effect on January 2, 2021. That's good news for corporate lawyers in the region, Law.com International's Peter Shaw-Smith reports. "We've been inundated with calls and emails from current and potential clients asking us about this. The reception is very positive in the business community," said Rodolphe Pellerin, national partner of Dechert in the UAE. "There's clearly been a push by the authorities to attract foreign investors, foreign players. This is, if you will, the last piece of the puzzle."

WHAT YOU SAID

"I think my biggest accomplishment this year was making it through."