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Purdue Air Force Lab to Partner on Technology Commercialization

first_imgThe Air Force Research Laboratory (AFRL) at Wright-Patterson Air Force Base, Ohio, and the Purdue Research Foundation last week signed an agreement to boost technology commercialization.The Purdue Office of Technology Commercialization signed a similar agreement with Naval Surface Warfare Center-Crane Division, Ind., in 2014 that showcases both organizations’ intellectual property with the goal of promoting the transfer of innovations to the public.“We already have a robust research and development program, but the agreement with Purdue will enable us to capitalize on the successful proven approaches used by Purdue to efficiently and effectively commercialize advanced technology products at an even faster rate,” Bill Harrison, director of the AFRL Small Business office, said in a news release.“In addition, we will be able to tap into Purdue’s established entrepreneurial activities including educational and mentoring opportunities and its entrepreneurs-in-residence program,” Harrison saidThe agreement calls for AFRL and Purdue to retain independent ownership of their relative intellectual property, but Air Force intellectual property will be marketed alongside Purdue’s innovations through the Purdue Office of Technology Commercialization, which is managed by the Purdue Research Foundation.“The goals of this agreement include implementing our established technology translation processes and to expand the commercialization channels for Purdue and the Air Force Research Laboratory,” said Chad Pittman, vice president of the Purdue Office of Technology Commercialization.“Because we share so many similar disciplines and industries, the successful marketing and commercialization methods we utilize will fit well with the innovations and technologies that the Air Force Research Laboratory has developed and patented,” Pittman said. Dan Cohen AUTHORlast_img read more

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TurboTax HR Block tried to hide free tax filing tools lawsuit alleges

first_img Comments Share your voice Got free, if you can find it. That’s how a current lawsuit might characterize the situation. Kimberly White/Getty Images Tax preparation companies H&R Block and Intuit, which makes TurboTax, were sued Monday for allegedly making their free tax filing tools hard to find.Taxpayers with incomes below $66,000 are eligible to file their taxes for free as part of a partnership between the Internal Revenue Service and Intuit, H&R Block and other companies. Under the agreement, the IRS has agreed not to make online tax filing free as long as the tax-preparation companies provide the service.Still, only 3% of Americans reportedly file their taxes for free every year, and locating those services can be difficult.Last month, ProPublica reported that searches for terms like “irs free file taxes” directed people to paid versions of Intuit’s service. Free options were tough to pin down, according to the report.In the suit, Los Angeles City Attorney Mike Feuer said TurboTax and H&R Block have used “deceptive and misleading advertising and design schemes” to lead taxpayers to unnecessarily purchasing their products. He added that the companies have “for years defrauded the lowest earning 70 percent of American taxpayers … by actively undermining public access to the IRS’ ‘Free File’ program.”For years, Intuit and H&R Block have lobbied to block the IRS from building its own free online tax filing system because it would compete with their products, according to ProPublica. Congress members have reportedly pushed to keep the IRS from providing free online filing.”Any suggestion that Intuit does not support the IRS Free File Program is flat wrong,” said TurboTax spokesman Rick Heineman. “We stand behind our actions as being both appropriate and consistent with our values.”An H&R Block representative said the company has “helped millions of Americans” with its free tax filing options, adding that use of its Free File program grew 8% this tax season.You can read the lawsuits against Intuit and H&R Block below:Intuit lawsuit by jonathan_skillings on ScribdH&R Block lawsuit by jonathan_skillings on Scribd Softwarecenter_img Tags 7last_img read more

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Global reinsurers likely to begin Indian operations soon

first_imgIndia’s sole reinsurance firm General Insurance Corporation (GIC) will face some tough fight in the coming days as Insurance Regulatory and Development Authority (IRDA) has asked five global reinsurers to bring in capital before giving its final approval for starting operations in the country.According to a report in Indian Express, apart from these five global reinsurers namely Munich Re, Hannover from Germany, Swiss Re from Switzerland, French major SCOR, US-based Reinsurance Group of America (RGA), the insurance regulator has also asked ITI Reinsurance- the first ever Indian private sector reinsurance company- to bring in initial capital.As per the report, these players have been asked to put in an initial capital of Rs 500 crore each for receiving the final approval from IRDA.Earlier, the insurance regulator had approved initial licence- known as R1 licence- to these insurers.”The IRDA has now asked these companies to bring in the capital to receive the final licence,” the report quoted an insurance sector official. “Each of these players has to infuse Rs 500 crore and would complete the compliance within a month. These players are now targetting to begin their full fledged operations by April 1 when the most of the renewals in the general insurance in India are done,” it added.State-owned GIC Re has been India’s only reinsurer so far, which has a market size of around $2.5 billion. Post-reinsurance regulations in November last year, seven global reinsurers had evinced their interest for an Indian foray.The report also pointed out that two other global reinsurers Lloyd’s of London and Gen Re, a part of Berkshire Hathaway of Warren Buffet, have also applied for R1 licence and are likely to join the fray soon.In the global reinsurers’ pecking order, Munich Re tops the list followed by Swiss Re and Hannover. Entry of global reinsurers is likely to change this market space which is dominated by GIC Re so far. India is also likely to give tough competition to its Asian peers like Singapore and Hong Kong going ahead.Meantime, IANS Thursday reported that world’s third largest reinsurer Hannover Re hopes to begin its Indian operations during the first quarter of 2017. “We expect the licence to operate our Indian branch soon. We would be ready for reinsurance renewals in the first quarter of 2017,” G.L.N. Sarma, Managing Director, Hannover Re Consulting Service India Pvt Ltd and the Chief Executive Officer-designate for Hannover Re’s India branch said.”The Indian reinsurance market size — reinsurance premium paid by primary insurers — is estimated between Rs 16,000 crore and Rs 18,000 crore. The reinsurance premium from the life insurers will be around Rs 1,200 crore and balance is from non-life sector,” he added.last_img read more

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Thai princess meets foreign minister Mahmool Ali

first_imgVisiting Thailand’s princess Maha Chakri Sirindhorn on Tuesday evening held a meeting with foreign minister AH Mahmood Ali and discussed various issues of mutual interest.Sirindhorn who arrived in Dhaka on Monday on a four-day visit also visited Mariali Government Primary School in Gazipur.She will visit Thailand and Bangladesh collaborative project on Vetiver Grass Development near Tiger Pass Area in Chattogram on Wednesday.She will also visit Ethnological Museum in the port city.Sirindhorn will meet prime minister Sheikh Hasina on Thursday morning and exchange views with agriculture minister Matia Chowdhury and culture affairs minister Asaduzzaman Noor and other dignitaries, officials said.She will also inaugurate a new environmental conservation project taken in collaboration with the environment and forests ministry titled”Bangladesh-Thailand Vetiver Grass Development Project to prevent hill erosion in Chattogram” on Wednesday at Tiger Pass in Chattogram city.The princess is leading an 11-member high-profile Thai government delegation to visit philanthropic projects she set up in Bangladesh in 2011 under her father late King Bhumibols’s Royal Chai Pattana Foundation.On the first day, she visited Liberation War Museum in the city and took a tour of different galleries of the museum.Officials at the museum described the brutalities carried out by Pakistan army during the 1971 Liberation War.She will also attend dinner to be hosted by foreign minister Mahmood Ali in her honour.last_img read more