Will the release of its digital currency be China’s next salvo in its bid for world domination?One of the biggest developments in global finance has recently occurred, but not enough people are talking about it. It features technology, money and a battle between global superpowers ...
The fintech boom is changing rapidly both the way we work and how we conduct business. From managing our budgets and payments, to investments, insurance and obtaining loans and finance, fintech is steadily influencing everyday life. In a sector estimated to have attracted in excess of £2 billion in UK investment last year alone, Scotland hosts a thriving fintech community ...
The California Consumer Privacy Act (CCPA) becomes effective on January 1, 2020. As the CCPA deadline looms, businesses need to act now to be ready. In this article, we provide an overview of the CCPA, key changes to the final law, and steps businesses can take to be ready for the CCPA ...
Some are just donkeys with a horn.I will remember 2019 as the year when many unicorns were exposed as donkeys in disguise.Invoking the rarity and mystique of the mythical creature, a “unicorn” is the term the financial market coined for companies worth US$1 billion or more. The year opened with high hopes for such companies that sought an initial public offering (IPO) in the following months ...
Hackers delight in targeting U.S. companies during the holiday season triggering a year-end spike in cyber-attacks, with Carbon Black reporting a 57.5 percentincrease in attempted cyber-attacks during past holiday seasons. This year we can expect that threat actors across the globe will remain online throughout the holiday season, looking to capitalize on the distraction of the holidays and the increased internet traffic that comes with online holiday shopping ...
On 1 January 2020, the International Chamber of Commerce (ICC) will introduce its revised rules and trade terms governing global freight transport. The Incoterms rules were first introduced by the ICC in 1936 to “establish commonly accepted definitions and rules related to the sale of goods between trading partners worldwide”, and now facilitate international trade valued in the trillions of dollars each year ...
Under a new proposed rule, certain required disclosures could be provided electronically to all retirement plan participants, including former employees and beneficiaries. On October 23, 2019, the U.S. Department of Labor issued a proposed rule intended to expand the use of internet technology to furnish ERISA-required disclosures to plan participants, and to reduce printing and mail expenses ...
The era of cryptocurrencies has come: whilst they were initially used as a specific means of payment and as a source of investments other functions are now being explored, such as the possibility of cryptocurrencies being directly contributed to a company in the context of its incorporation ...
This fall, an outbreak of lung illnesses allegedly related to vaping ignited public hysteria and legislative reactions in many states. The vaping and cannabis industries are already paying, and will continue to pay, high reputational and policy costs associated with these events, and the industries should also be aware that the widespread nature of reported injuries could lead to a substantial amount of costly mass tort litigation ...
After sending cryptocurrency enforcement letters in the summer of 2019, the IRS recently issued Revenue Ruling 2019-24 and an accompanying frequently asked questions (FAQs) with additional guidance on the taxation of cryptocurrency. The Revenue Ruling addresses the tax treatment of cryptocurrency "hard forks", where one version of the currency is split from its original ledger and a new version of the currency is created with a new ledger ...
Almost at the same time as the much-noticed and controversially discussed Directive on Copyright in the Digital Single Market (see Update IP No. 12: Agreement on the Reform of the Digital Copyright Law) and barely noticed by the public, another European Directive on copyright law was adopted ...
The Government of Indonesia finally issued Government Regulation No. 71 of 2019 on Organization of Electronic Systems and Transactions ("GR 71/2019") on 4 October 2019, gaining momentum as the country sees the rise of ‘Unicorns’ and President Joko Widodo boasting about the country’s digital economy. GR 71/2019 replaces Government Regulation No. 82 of 2012 with the same title and came into force on 10 October 2019. GR 71/2019 has 11 chapters and an extensive scope ...
On 7 August 2019 a new UN convention was signed in Singapore by 46 countries, the "UN Convention on International Settlement Agreements Resulting from Mediation", also known as the Singapore Convention. The Singapore Convention applies to international settlement agreements resulting from mediation and aims to be an instrument for international trade to facilitate and promote mediation as an alternative method of resolving trade disputes ...
The Court of Justice of the European Union (ECJ) has ruled, upon submission by the Austrian Supreme Court (Oberster Gerichtshof, OGH), with the decision of 3 October 2019 (Case C-18/18), that hosting providers, in this case Facebook, may be required by a court to seek and erase content which is identical or, under certain circumstances, equivalent to information previously found to be unlawful ...
Yesterday, in a closely-followed case, the Supreme Court decided not to hear an appeal brought by the Domino’s pizza chain, which sought to overturn the Ninth Circuit Court of Appeal’s decision that entities selling online must make their websites and apps accessible to people with disabilities ...
On October 1, 2019 the Court of Justice of the European Union (CJEU) ruled that pre-ticked boxes do not constitute a valid consent by web users prior to storing cookies on their devices (Verbraucherzentrale Bundesverband e.V. and Planet49 GmbH; Case C-673/17). The decision follows a challenge by the German Federation of the Consumer Organisations against the use of a pre-ticked checkbox which had, by default, consented to cookies on behalf of the user ...
On 3 October 2019, the European Court of Justice (ECJ) published its groundbreaking ruling in case C-18/18 establishing that the EU enables national courts to order information societies such as Facebook to remove defamatory information. This also encompasses equivalent versions of previously declared illegal information. In doing so, the ECJ effectively held that EU law does not preclude injunctions issued by national courts from producing worldwide effects ...
There is an ongoing controversy relating to search engine advertising. In particular regarding the legality of purchasing search terms incorporating third-party trademarks. In seeking a reasonable legal standard, this article discusses the latest legal development in trademark, unfair trading practices, marketing, and competition Law ...
With the continuous and rapid advancement of technology and the increase in the use of digital technology, the provision and sale of digital content has become more and more appealing. This is evident from the emergence of a plethora of businesses the activities of which include engaging in the sale of digital content such as video games, ring back tones, music and videos as well as the rise in the demand for digital content sold through mobile phones ...
In its decision of 8 August 2019 (Ref.: 29 W 940/19), the Munich Higher Regional Court commented for the first time on the German Act on the Protection of Business Secrets (GeschGehG). In court proceedings in which claims arising from the law which came into force at the end of April 2019 are asserted, urgency should not be presumed pursuant to Section 12 (2) German Law against unfair competition (UWG) (analogously) ...
A website operator who has embedded a Facebook “like” button on its website qualifies as a “joint controller” together with Facebook and so can be held liable for the collection and transmission of data from the operator’s website visitors to Facebook. Background Fashion ID is a German online clothing retailer. Its website contained the famous Facebook ‘Like’-button ...
One of the latest and widely discussed GDPR fines in the amount of approximately EUR 20,000 was imposed in Sweden for face recognition in schools. The municipality tried using the new technology to make monitoring the attendance of schools easier. Nevertheless, it failed to ensure a legal basis and proper impact assessment for such data processing ...
The rapid development of technology in the modern era has required more effective and efficient case and court administration services. In addition, Article 2 (4) of Law Number 48 of 2009 on Judicial Powers requires the justice system to be simple, quick and low cost. For this reason, the Indonesian Supreme Court saw a need to reform the administrative and justice system in order to overcome the existing obstacles and challenges of administering the justice system ...
The Cape Town Convention on International Interests in Mobile Equipment of 16 November 2001 (the the “CTC”) and its Protocol on Matters Specific to Aircraft Equipment has since its adaption in 2001 grown to be the overruling legal framework in the aviation industry, providing banks, airlines and leasing companies with an international unified regime on acknowledgement and enforcement of security interests in aircraft ...
Indian patent law does not permit the filing of patent applications outside the territory of India unless a patent application is filed in India first. The Patent office examines the application to ensure that it does not fall under the defence sector or has any relation to atomic energy ...
