Dear valued clients and supporters: Happy new year! This month's newsletter will focus on: (1) advertising of short-term rentals on Airbnb; (2) rethinking employment contracts and (3) firm announcements.
Advertising Short-Term Rentals
Recently, Governor Andrew Cuomo signed legislation that makes it illegal to advertise the rental of an entire apartment for a period of less than 30 days. This legislation comes as part of an effort by lawmakers to crack down on the illegal rental of apartments through online platforms, such as Airbnb. Almost immediately after the bill became law, Airbnb filed suit against the City and the State in protest. While you may have heard that part of that lawsuit has been settled, Airbnb is continuing to press forward with its suit against New York City. A more in-depth article on the new law and contested legislation can be found here on our website
Rethinking Employment Contracts
In our newsletter last month, we briefly suggested reasons why employers should rethink the ways their current employment contracts are structured based on the groundbreaking work of Professor Oliver Hart of Harvard University and Professor Bengt Holmstrom of the Massachusetts Institute of Technology. Now, a more in-depth article on why employers should rethink their employment contracts and some practical suggestions as to how can be found on our website.
We are pleased to announce the birth of Nigel P. Carraro, who is our associate Kyle Carraro's most recent addition to his growing family. We look forward to Nigel joining the Lloyd Patel roster of attorneys in a couple of decades. Finally, we are pleased to announce that partner Yogi Patel will be returning to his alma mater CUNY School of Law this coming semester as an adjunct professor of law where he will be teaching a course on the Uniform Commercial Code (UCC) and Secured Transactions.