Credit Counseling Trade Association Fall Conference

Credit Counseling Industry's Largest Trade Association Announces Fall Conference Sessions

This conference is designed to help credit counseling agencies understand all the changes and challenges occurring in the industry. There are significant changes to the law in the states and with the federal government, there are special requirements on providers of bankruptcy counseling regardless of DMP activity, the IRS audits are near completion and the Uniform Debt Management Services Act is being revised.

(PRWEB) September 12, 2007 -- The American Association of Debt Management Organizations (AADMO), the largest trade association for the credit counseling industry, has announced the program sessions for its Fall Conference in Austin, TX on October 22 and 23, 2007.

According to Mark Guimond, Executive Director of the AADMO, "This conference is designed to help credit counseling agencies understand all the changes and challenges occurring in the industry. There are significant changes to the law in the states and with the federal government, there are special requirements on providers of bankruptcy counseling regardless of DMP activity, the IRS audits are near completion and the Uniform Debt Management Services Act is being revised."

"We have one session in particular that no one in credit counseling should miss - it is the actual experience of one agency going through the audit and revocation process. If you want to know the truth about the audit and revocation experience, this is the only opportunity to hear first hand from one of the front line veterans. You will learn directly from the top executive of a credit counseling agency that had its 501(c)(3) tax-exempt status revoked by the IRS what actually transpired and the identified problem areas that led to revocation," said Guimond.

"With 143 planned audits, so far, this is one conference everyone should attend. It's more important than ever to have timely and accurate information about the audit process, the treatment or transfer of clients, disposition of assets and other real challenges during and after revocation proceedings," added Guimond.

Sessions will include:

The Actual Experience of Audit and Revocation - One Credit Counseling Agency Shares it All!

Leads and Referrals: Not the Same Old Ballgame
Speaker: Jeffrey Tenenbaum, Venable

"60/60 Plans" and Less Than Full Balance Payments - Understanding the Applicable Laws
Speaker: Robby Birnbaum, Greenspoon Marder

Bankruptcy Reform: Value of Credit Counseling Requirement is Not Clear
Speaker: Jason Bromberg, U.S. Government Accountability Office

Credit Counseling Industry Legislative Update
Speaker: Mark Guimond, AADMO Executive Director

Valuing Account Portfolios - Results and Analysis of the Industry Survey
Speakers: Paul A. Baumann, Leslie Moreau

Credit Counseling, Debtor Education and Bankruptcy Reform at the 2 Year Mark
Speaker: Henry Hobbs, Executive Office for United States Trustees

143 Audits - Why This Exact Number is Significant

State Regulators

NCCUSL Uniform Debt Management Services Act - "Stand-By Committee" Recommendations

The AADMO Fall Conference program and registration information can be found at www.AADMO.org.

About AADMO:
AADMO is the largest trade association for the credit counseling and debt management industry. Nationwide, the majority of licensed and legally operating credit counseling agencies are members of AADMO.

AADMO is working diligently to ensure the continued operation and viability of credit counseling and debt management organizations. AADMO provides important education and information for the entire industry.

AADMO members are consumer credit counseling agencies, debt management organizations, credit counselors, personal finance educators, credit and debt information educators, consumer lawyers and many others.

AADMO is the only trade association to have held state law compliance workshops with the New York State Banking Department and the California Department of Corporations upon enactment of their respective laws governing credit counseling. AADMO is also the only trade association for the industry to publish a formal summary of state laws that has been reviewed by state regulators.


Press Contact: MARK GUIMOND
Company Name: AADMO
Phone: 281-361-2325
Website: www.AADMO.org

House Bill Weakens US Patent System and Hurts Entrepreneurs

Patent Expert Says House Bill Adopted Today Weakens U.S. Patent System and Hurts Entrepreneurs

General Patent Corporation Chairman Alexander Poltorak, a national expert on the U.S. patent system and author of two books on intellectual property, condemned the House of Representatives' passage this afternoon of the patent reform legislation and its amendments.

(PRWEB) September 9, 2007 -- General Patent Corporation Chairman Alexander Poltorak, a national expert on the U.S. patent system and author of two books on intellectual property, condemned the House of Representatives' passage this afternoon of the patent reform legislation and its amendments.

"The passage of the amended Patent Reform Act of 2007 in the House of Representatives is a severe threat to our entire patent system," Poltorak said. "As a whole it means weaker protection for smaller inventors and entrepreneurs across America."

"The bill undercuts domestic industry and hurts independent inventors - the very backbone of American ingenuity," Poltorak said. "The House bill renders patents nearly worthless, which will consequently weaken the incentive to innovate. It will stifle innovation and entrepreneurship."

Congress should instead consider a two-tiered patent system that creates different levels of patent standards with different rights for each type, said Poltorak, whose company has helped defend the individual patents of hundreds of small American inventors over the past 20 years. A two-tiered system, which has proven successful in much of Europe, would reduce the backlog of pending patent applications and also minimize patent litigation, Poltorak said.

Poltorak, a former Russian dissident who fled the Soviet Union with his family in 1982, founded General Patent Corporation in 1989 after using his background as a physicist to develop and patent technology for computers and laptops. He has successfully defended patents against business giants such as General Motors, Kraft Foods, I.B.M. and Motorola. He is the co-author of Essentials of Licensing Intellectual Property (2004) and Essentials of Intellectual Property (2002), both part of a series.

A complete version of Poltorak's statements follows.

Poltorak is available to comment on today's House vote. Please contact Dave Closs at Zlokower Company at 212-447-9292 extension 12.

Statement by Alexander Poltorak on the Patent Reform bill

Alexander Poltorak is the chairman and CEO of General Patent Corporation Chairman, a 20-year-old intellectual property management company that advises entrepreneurs on licensing and patent enforcement. Dr. Poltorak is a national expert on the U.S. patent system and author of two books on intellectual property.

"The Patent Reform Act, as passed in the House, undermines the ability of small companies to compete against large corporations. The bill undercuts domestic industry and hurts independent inventors - the very backbone of American ingenuity.

"The bill renders patents nearly worthless, which will consequently weaken the incentive to innovate. It will stifle innovation and entrepreneurship. Small high-tech companies, the true innovators in this industry, overwhelmingly reject this proposal.

"The statute defines a patent as the right to exclude others from using, making, selling, offering for sale or importing a patented invention. However, with the Supreme Court decision on eBay striking down the Federal Circuit rule of automatic injunction, there are, in effect, no teeth left in the right to exclude.

"The apportionment of damages provision of the Bill not only chips away at the economic value of patents but cuts to the heart of what the patent is - the right to exclude from making, using and selling. If one sells an infringing product one has to pay damages. If damages are nominal, why not infringe? An attempt to dramatically diminish patent damages devalues all issued and future patents.

"A patent is a bargain between the inventor and the State. To induce an inventor to disclose his or her invention to public, the State promises in exchange a grant of limited monopoly. But with the average cost of patent enforcement at $4 million, this right remains academic for most inventors. This bill will make it even more difficult to enforce a patent.

"A self-proclaimed goal of this patent reform is to decrease patent litigation. Lawmakers apparently forgot that a patent, by definition, is little more than a license to sue ("right to exclude") and decreasing patent litigation by making it more difficult and expensive makes patents largely unenforceable and, therefore, worthless.

"In 1998, Congress passed a copyright term extension act, which extended the length of a copyright's terms by 20 years. That act was pejoratively called the Mickey Mouse Protection Act because it was pushed by Disney lobbyists seeking to prevent the expiration of the Mickey Mouse copyright.

"Now, Washington lobbyists hired by Microsoft, Intel and other high tech giants are pushing through Congress the Patent Reform Act of 2007 - which should be called the "Patent Repeal Act" for its threat to our patent system.

"History will show these to be two diametrically opposite approaches to stripping away twin forms of intellectual property protection. It all depends on who's paying the bill.

Dr. Poltorak is available to amplify and explain any of the above statements or other aspect of the pending Patent Reform legislation. Please contact Dave Closs, 212-447-9292 ext. 12

Press Contact: ALEXANDER POLTORAK
Company Name:
Phone: 914-584-6900
Website:

Corporation Owners In Nevada Not Private

Nevada Corporations Owners No Longer Private: Corporate Veil Still Powerful

The State of Nevada has made a change in the privacy rules. State of Nevada still powerful in its pro-business stance. Those who have relied on bearer shares or other means to protect privacy may need to review corporate structure.

(PRWEB) July 7, 2007 -- Bowing to pressure from several courts, the IRS and other governmental agencies, the State of Nevada has announced that it will enact certain reforms that will balance its pro-business stance while curbing alleged abuse by suspected individuals and firms who have misused Nevada laws in order to hide assets and identities.

Scott Letourneau, CEO of Nevada Corporate Planners, nationally known expert on how to incorporate in Nevada as well across the country, has written and spoken often about the misapplication of Nevada law by those touting bearer shares and use of nominees to hide identities.

Quoting Letourneau from a recent seminar for entrepreneurs, "When it comes to protecting your hard earned assets you want every advantage possible." Letourneau also agrees with the Nevada Secretary of State in that it appears promises are often made to those who incorporate in the State of Nevada that there is a level of privacy for the owners of a corporation or LLC that will help them in case of a lawsuit and that if they get sued no one will find out who the owner of the corporation or LLC may be. While touted as a means to prevent them from being the target of frivolous lawsuits, there have been cases of fraudulent acts by the incorporators as well as the companies.

Based on his knowledge and experience, Mr. Letourneau has found that the challenge in the creation of rock solid asset protection plan should not rely solely on the illusory promise of privacy through the use of Bearer shares (which don't work) and nominees (which work to a certain degree). Rather, to quote Mr. Letourneau, 'If the whole plan is designed to prevent the discovery of your assets to fend off a lawsuit and the corporation or LLC lacks substance; there are no employees anywhere; and no business license, the plan is doomed to fail'. In short, there is no asset protection.

Due to the abuses, Nevada is banning the use of the bearer shares and taking other remedial action, all of which are aimed at reducing the fraudulent actions but maintaining the State of Nevada's Pro-Business stance. However, Nevada is still powerful in the protection of the corporate veil. Those who have relied on a scheme like bearer shares or other disallowed actions for privacy should investigate what changes are necessary under the new Nevada laws. To learn more about these changes or to find other valuable information, visit Nevada Corporate Planner's website at www.nvinc.com/research

If you would like more information about this topic, or to schedule an interview with Scott Letourneau, please call JoAnn Gould at 702-367-7373.

Press Contact: Scott Letourneau
Company Name: Nevada Corporate Planners
Phone: 702-367-7373
Website: www.nvinc.com

California Bans Cell Phones

California Becomes the Fourth State to Ban Cell Phones While Driving

With exceptions to headsets and other hands free devices, driving while using a cell phone is becoming illegal in more and more states. Many companies are beginning to sell devices that will allow people to still use cell phones while driving.

Grass Valley, CA (PRWEB) June 28, 2007 -- On July 1, 2008, California will become the fourth state that will implement a ban on the use of cell phones while driving.

The California Governor, Arnold Schwarzenegger, signed into law a legislation that passed in the California Assembly last month. The measure goes into effect in July 2008, and imposes a minimum fine of $20 for anyone caught driving and using a cell phone unless the driver uses a headset, ear bud or other technology that frees both hands.

New York, New Jersey, Connecticut and Washington, D.C., have similar laws, but California is a large state to sign off on such legislation. More than 35 other states are considering a similar bill.

Palm, California's largest producer of cell phone and accessories, is one of the largest supporters of this bill. The company said the bill responsibly addresses evidence that handheld cell phone use increases the risk of an accident.

"With the technology available today, there is no reason for a driver to be holding a cell phone while behind a wheel. Headset technology, both wired and wireless, is readily available, and call quality using hands-free headset is generally excellent," said Mary Doyle, Senior Vice President and General Counsel at Palm.

Ms. Doyle added, "Palm gives drivers numerous options for helping keep their eyes on the road and two hands on the wheel, focusing first and foremost on driving."

Cellphone Battery Warehouse has more than 47 different styles and brands of headsets to offer to motorists. The Palm Bluetooth Wireless Headset is one of the most popular headsets for motorists.

To learn more about the products visit http://www.batteries4less.com/

Press Contact: Coryon Redd
Company Name: Batteries 4 Less
Phone: 530-277-2940
Website: www.batteries4less.com