JOSEPH [JOE] VALOF, ESQ. 508-366-8825 www.nanosft.com/igc
A NEW YEAR- 2015 -------- A NEW SERVICE
COMPLIANCE as a SERVICE [CaaS] Going Global, the U.S. Foreign Corrupt Practices Act [FCPA] has been around for the past 37 years. Why is compliance now important and critical? Because the DOJ [Dept of Justice] has received more funding and new resources and is now targeting all companies, small, medium, and large, whereas previously DOJ only went after big fish. All companies doing business internationally, either directly with its own sales force or through independent third party channels [where most FCPA violations occur], are now under DOJ's radar screen. Noncomplance can be [very] costly. Additionally, many other countries are now fighting corruption. The UK, Canada, Chile, Colombia, Mexico, Brazil, to name a few, have all introduced anticorruption legislation. So a company can be hit from both ends.
Also, companies doing business in the EU [European Union] marketplace and plan to register under the U.S.'s Safe Harbor Program, requires a 'Compliance Officer' to be assigned.
During my 40 year career as an in house high tech counsel I have developed a variety of policy templates, such as 'Business Conduct and Ethics', 'Privacy', 'Protection of Intellectual Property', etc., which could be helpful to minimize a company's financial exposure for a violation.
If you would like more information about this Service, contact Joe at: email@example.com [his CV is shown below]
PROFESSIONAL EXPERIENCE: Joe is an in-house high-tech corporate transactional counsel and provides contracts and negotiation support related to software/IP licensing, NDA’s, LOI’s/LOU’s, marketing, distributor, and joint venture arrangements, software escrow, beta, and Eval agreements, corporate compliance matters to global technical companies as an independent ‘virtual’ contractor. Joe also has in-depth knowledge and experience with DOD and civilian agency FAR’s/DFAR’s, as well as university procurement regulations/policies. Prior to his virtual support role, Joe was a full-time in-house counsel for DG and DEC. VITALS Joe holds a JD from New England Law/Boston and MBA and BS degrees from Northeastern University. Joe is a volunteer with SCORE and 501(c) (3) community based non-profits. He has participated as a panel member on various industry sponsored seminar programs, and was a member of the ‘Commission On Software Issues In the 80’s’, an industry consortium developing long range software licensing policies. He is a former member of NECCA [New England Corporate Counsel Association] and founding member of AIGC [Association of Independent General Counsel].
Joe has authored, or co-authored, various 'White Papers' and essays, explaining Letters of Intent, Joint Venture arrangements, Agency Relationships [third party marketing channels], Licensing Software to the U.S. Government, Government Team Agreements,Ethics and Compliance Under SOX, all of which are available on his sister website, www.nanosft.com/igc; he also recently wrote an essay about the old Boston wool trade which was located on Summer St, and now the Street is an Innovation District, which was published in ASI's Nov 2014 magazine. [the complete essay is below]
Copyright 2015. All Rights Reserved. Online Counsel, OnSite Counsel and In-House Counsel Services are registered Ma service marks of Joseph Valof, Esq. ___________________________________________________________ REMEMBERING OLD SUMMER STREET: THE TRANSFORMATION FROM A WOOL DISTRICT TO AN INNOVATION DISTRICT By: Joseph Valof About This Essay: The writer's primary motive for preparing this essay is to recognize and preserve the legacy of one of Boston's important industries, the wool trade and the wool companies that thrived on Summer Street, or the 'Street' as it was affectionately referred to, in Boston for over ten decades, 1880 to 1980.The essay also explores the inner workings of the only known wool co-operative [the National Wool Marketing Corporation], which is adapted from the writer's Northeastern University co-op work report written when he was a co-op intern [1951 to 1954]. This essay also describes the transformation of the Street from a Wool District to an Innovation District.
History of Summer Street: During its heyday Summer Street, was considered the 'wool capitol of the world' . How and why did the Street get this designation. There were several reasons: first, and most importantly, the American textile industry, the wool buyers, was located in Lowell, Massachusetts, the first American textile town; secondly, the Street's proximity to good water and rail ports made shipping wool to Boston very inexpensive for the wool growers. Grading the wool was an important function that Boston could perform quite easily as there was a large pool of skilled wool talent who settled close to the Street in South Boston. Additionally, the Street had good office space and warehouses able to handling and store large lots of wool. Some of the early wool companies [many family owned] on the Street included: Sheldon & Co., Adams & LeLand, Hallowell, Jones, & Donald, H. Haigh & Co., R.H. Lindsay Co., Cheviat Wool Co; Forte, Dupee, Sawyer Co.; Goodreault, Inc.; Emery, Russell, Goodrich, Crimons and Pierce, and, of course, the National Wool Marketing Corp [the National], to name just a few. In addition, two trade associations, the Boston Wool Trade and the National Wool Trade were also located on the Street. Inside a Wool Co-operative:
The National was incorporated in 1930 by 23 wool Associations1 as a 'Producer' co-op. The University of Wisconsin Center for Cooperatives describes the concept of a co-operative as follow: 'the defining characteristics of a co-operative business are that the interests of the capital investor are subordinate to those of the business, user, or patron, and returns on capital are limited. Co-operative control is in the hands of its member-patrons'. A Producer co-operative is generally owned either by people or business entities who produce the same type of goods, in this case agricultural products. The Associations had a combined membership of approximately 50,000 wool growers.
The National was managed by two prominent and well respected wool executives, Carlos [C. J.] Fawcett, the General Manager, and David E. Judd, the Business Manger. The National provided many services to it's Associations, such as: shipping assistance, warehousing, grading, marketing and sales. Also, every Tues and Friday C.J. prepared a market letter updating the growers on market conditions and prices. D. E. Judd also prepared a more extensive market letter called the 'National Wool Clip', which was sold on a subscription basis for twenty-five cents per year and was issued once a month from September to February and twice a month from March to August. Over eighty-thousand growers subscribed to the Wool Clip. The National also had 2 subsidiaries, the Central Wool Warehouse Corporation, who was responsible for the ownership and maintenance of the National's various properties, which included: 281 Summer St, 421 Summer St., 285 Summer St., 321 Congress St., and 26 and 29 Pittsburgh Streets, and the National Wool Credit Corporation who was responsible for and acted as the National's credit guarantor if a credit line was required. Both subsidiaries operated out of the Nationals main office at 281 Summer Street. All wool sent to the National was on a consignment basis, the National did not buy or own any wool for it's own account. When wool arrived at one of the National's warehouses, a grading team took over and the grading process started by separating the wool into one of 7 grades. All the wool was comingled together by grade and quality. Wool was sold by the pound on the basis of grade, class, and quality. 'Grade' refers to the fineness of the fiber, 'Class' refers to the length of the stable or fiber, 'Quality' refers to the freedom from foreign material and to the life or character of the wool. The price of wool is determined by the amount of shrinkage in the wool, which varies from year to year. The majority of the wool handled by the National was 'Shorn Wool', meaning it was obtained from live sheep vs, 'Pulled Wool' which was obtained from slaughtered sheep. Grading and sales records had to be accurate and complete, as payments to the wool growers were based on these records. Needless to say, record keeping [before computers] was a very labor intensive function. Demise of the Street:
In the mid-70's the textile and wool marketplaces both suffered significant downturns. A combination of market factors coupled with the introduction of new technological products, such as synthetic fibers [Nylon, Orlon, Dynol, Decron, Acrelan, and Vicara], a business dress code change to a more informal attire, which impacted the men's dress suit business, the discontinuance of various governmental wool subsidy programs, and, most importantly, the textile industry's move to the south left a void of textile workers in Boston, all were key factors. In 1975, the National relocated to High Street, it was formally dissolved in 1994.
Rebirth of The Street, circa 2014: The Innovation District: The year was 2010, 30 years after the wool companies left the Street, Mayor Thomas M. Menino introduced the idea of an Innovation District, or as it's now called the 'I/D', to rebuild the South Boston waterfront, including the Fort Point Channel and the area surrounding Summer Street. Actually the I/D concept got started in 1998 with the completion of the John Joseph Moakley United States Court House, and the BCEC [Boston Convention & Exhibition Center] which opened in 2004 at 415 Summer Street. These two projects set the wheels in motion for the Innovation District. A variety of companies, tech, non-tech, incubators, consultants, professionals (lawyers and accountants) are now located on the new Street, and include to name just a few: Space Works, FGI, Millennium Training Institute, MSK Placement Associates Design, Inc., Teknion, Inc. [263 Summer]; Aereo, Argus, Blue Digital, Boston Technologies, ClickSquared, Student Advantage [280 Summer]; Space With a Soul, Data XU, DiMella Shaffer [281 Summer]; Get Fused, M+W Group, Dell, AppNeta [285 Summer].
End Note: In sum, sheep have been with us from the beginning of time and the old Street's wool business continues to be operated directly by the National's Associations and in the same manner [i.e. very low tech]. Now, the Street is all about technology [computers, smartphones, tablets, etc].
1 The National's 23 owner/member Associations included: Arizona Wool Growers Association, Colorado Wool Marketing Association, Colorado-New Mexico Wool Marketing Association, Idaho Wool Marketing Association, Illinois Wool Marketing Association, Indiana Farm Bureau Cooperative Association, Iowa sheep & Wool Growers Cooperative, Kentucky Wool Growers Cooperative Association, Michigan Cooperative Wool Marketing Association, Midwest Wool Marketing Cooperative, Minnesota Cooperative Wool Growers Association, Central Wool Marketing Association [Montana], Nevada Wool Marketing Association, New Mexico Cooperative Wool Marketing Association, New York State Sheep Growers Cooperative Association, North Dakota Cooperative Wool Marketing Association, Oregon-Washington Wool Marketing Association, Cooperative Wool Growers of South Dakota, United Wool Growers Association [Virginia], Utah Wool Marketing Association, West Virginia Wool Marketing Association, Wisconsin Cooperative Wool Growers Association, and Wyoming Cooperative Wool Marketing Association.
About the Writer: Joe earned his law degree from New England Law/Boston] and his master and bachelor degrees in business from Northeastern University. Although he enjoyed his co-op stint at the National, he did not pursue a career in the wool industry. After completing his ROTC training obligation he was commissioned a 2nd Lt in the US Army Signal Corp and served a 2 year tour of duty in Germany as a Radio Platoon Officer. Joe serves as a student mentor at New England Law and volunteers his services to numerous community based 501 (c) (3) non-profit companies. He enjoyed a long and very successful career as an in-house corporate high tech counsel.