A team of Venable attorneys from the Los Angeles office, including David Meyer, Charles Kolstad, Stefan Kirchanski and Bret Siciliano, successfully represented BackJoy Orthotics, LLC in a multiparty transaction involving the contribution of core intellectual property rights and the simultaneous funding of investment capital into the Company from a strategic investor. Messrs. Meyer and Siciliano prepared the bulk of the transaction documents and provided strategic advice throughout the four-month long negotiation process. Dr. Kirchanski provided advice with respect to the transfer of the intellectual property, and Mr. Kolstad assisted in the preparation of the operating agreement and the resolution of the various tax issues implicated by the contribution of the intellectual property and the investment capital.
BackJoy Orthotics designs, develops, produces, manufactures and markets products and services relating to back care and back science, including the patented "BackJoy Core" back orthotic which is sold through infomercials and online. The restructuring is designed to expand the BackJoy's marketing channels, improve its manufacturing operations and increase its revenues.