Federal Circuit Compounds Contractors' Interest Problems
Client Alert | 1 min read | 03.04.11
Over the vigorous dissent by several judges, the Federal Circuit on March 1, 2011, denied a petition for en banc review of its decision in Gates v. Raytheon, 584 F.3d 1062 (Fed. Cir. 2009), which held that, because the Cost Accounting Standards (CAS) statute requires interest on cost impacts for CAS violations to be calculated at the rate established under 26 U.S.C. § 6621, the interest must be compounded in accordance with 26 U.S.C. § 6622, even though the CAS statute does not refer to or incorporate § 6622 by reference. As we reported on September 24, 2010, the same interest rate is referenced in the Truth in Negotiations Act (TINA), and a proposal is pending to amend the FAR to require compound, rather than simple, interest to be used in calculating damages for TINA violations.
Insights
Client Alert | 10 min read | 03.19.26
[1] In a recent development, the UK Supreme Court ruled that Artificial Neural Networks (ANNs) are not excluded from patentability due to being a computer program “as such.” In doing so, the Court set out the framework of a new test for the UK Intellectual Property Office (IPO) to use when evaluating the patentability of computer. The ruling breaks down barriers to the patenting of AI algorithms in the UK and paves the way for a wider change in the UK IPO’s approach to assessing excluded subject matter.
Client Alert | 7 min read | 03.19.26
Client Alert | 6 min read | 03.18.26
CFTC Takes Additional Steps Toward Prediction Market Regulation: What You Need to Know
Client Alert | 4 min read | 03.18.26
