Am Law 200 firms have imposed a ban on their legal personnel using ChatGPT and other forms of generative AI to undertake client-related tasks, with concerns centered on potential data breaches and “hallucinations”. The decision, however, does not signify a withdrawal from the use of AI within law practices, due to its unmatched capacity for…
Day one of the National Industry Liaison Group (NILG) 2023 National Conference commenced in Phoenix, Arizona, witnessing a full attendance despite soaring temperatures. Attendees comprising conference presenters, vendors, and agency representatives were treated to diverse and informative sessions that aligned seamlessly with this year’s proactive conference theme of “Transforming for Tomorrow”. The first day of…
In what may come as a surprise to many, Twitter, the popular social networking site, recently announced that it would be undergoing a rebranding. The CEO of Twitter, Elon Musk, disclosed last week that the platform would henceforth be known simply as “X”. This sudden shift provoked immediate and widespread confusion, with many users mistaking…
In recent weeks, there have been two significant developments involving Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Consumer Financial Protection Bureau (CFPB) issued a comprehensive set of Frequently Asked Questions (FAQs) on June 28, 2023, to aid small business lenders and finance companies in compliance with a final rule…
In the realm of real estate law, numerous legal professionals and industry insiders adhere to the understanding that for a contract for the purchase and sale of property to be deemed valid, it must contain a few essential elements. These usually include the identity of the parties involved, a description of the property in question,…
In its latest strategic move, cloud-based trademark docketing software company Alt Legal has stepped up its game with its fourth acquisition. The company has acquired customers and the docketing business of its competitor, TM Cloud. This acquisition enables Alt Legal to expand its customer base across the United States and globally, including regions such as…
On July 24, 2023, the US Patent & Trademark Office (PTO) announced some notable changes in its review procedures, specifically in the interim Director Review (DR) process and Appeals Review Panel (ARP) process. These changes mark the end of the Precedential Opinion Panel Process, which was previously in place. One significant update to the interim…
Over the past five years, state legislatures have progressively turned their focus towards the role of pharmacy benefit managers (PBMs) in the context of health care benefits. Instituting a significant expansion of PBM regulation, this development has set a precedent that is attracting global attention. Initially, legislation focused predominantly on the PBM services offered to…
International law firm Bird & Bird has posted another year of healthy financial growth, propelling its top-line revenue up nearly 11% to reach £495 million for the 2022-2023 financial year. This sizeable increase underscores the firm’s ability to navigate the challenges of the current market and maintain steady growth. In terms of profitability, the firm’s…
The weekly legal digest, ‘The morning read for Thursday, August 3’, presents an assortment of articles, commentary, and additional noteworthy links that pertain to the U.S Supreme Court. Brought to you by SCOTUSblog, the acclaimed online resource dedicated to reporting on the Supreme Court of the United States and its cases, this roundup provides a…
In recent years, the United Arab Emirates (UAE) has made significant strides in regulating and promoting electronic commerce (e-commerce) to foster digital transformation and keep pace with technological advancements. Federal Law No. 15/2020, also referred to as the Consumer Protection Law, and Federal Decree-Law No. 46/2021, known as the Electronic Transactions and Trust Services Law,…
In a recent development, the Environment and Land Court in Kenya issued interim orders against a policy directive revived by President William Ruto in July which aimed to end a moratorium on logging. The directive was put under scrutiny, pending the hearing and outcome of a case filed by the Law Society of Kenya (LSK)….
California’s laws surrounding securities claims are stringent, representing a robust infrastructure designed to serve as a robust system for financial regulation. Even after death, said claims may still hold relevant. As Part 5 of the Corporation Securities Law of 1968 establishes, certain violations and their subsequent remedies are clearly prescribed. Corporations Code Section 25401 elucidates…
In a decision bound to affect a significant number of global enterprises and law firms working with cryptocurrencies, The Internal Revenue Service (IRS) has clarified that stakers should include the value of any rewards earned from staking in their gross income. This ruling was released in Revenue Ruling 2023-14 on July 31, 2023. Specifically, it…
In a recent episode of the Consumer Finance Monitor podcast, guest Gregory Dickinson, Assistant Professor at St. Thomas University, detailed the complexities and challenges of using current law to address dark patterns. The episode delved into what these so-called dark patterns are and how they differ from traditional scams directed at consumers that involve the…
Change is afoot in the corporate world, as companies increasingly leverage Environmental, Social, and Governance (ESG) principles for risk management and value creation. These principles shape business priorities and inform financial goals, promoting long-term enterprise sustainability. Corporate leaders imbued with an ESG-focused mindset can help businesses recognize risks and opportunities, supporting the integration and maintenance…
As legal practitioners in the global business arena, the analysis of Fair Market Value (FMV) is often an area demanding utmost attention and precision. FMV, predominantly an issue of significance in regulatory compliance and compensation agreements concerning the healthcare sector, prompts a meticulous investigation of its defensibility. The following discussion draws on Health Care Compliance…
Securing a carbon-neutral future is an enormous venture, demanding drastic alterations across the global energy system. As an adaptable, robust energy carrier, hydrogen is projected to play an essential part. Yet realizing this potential is no simple task. It will critically lean on the capacity to visualize innovative low-carbon hydrogen projects, garner financing for them,…
In the era of ‘big data,’ one of the greatest challenges that face streamlined merger clearance proceedings is the voluminous electronic documents generated by contemporary businesses. But thankfully, solutions are within reach thanks to the power of technology. Sophisticated AI and data analytics tools exist which can help draw insights crucial to satisfying disclosure obligations…
Recent legislative developments in the United States attest to the growing patchwork of state privacy laws. Two additional states – Oregon and Delaware – have joined the existing lineup of states eliciting comprehensive consumer privacy laws. This expanding network of legalities exhibits how state-level privacy laws continue to evolve in the absence of encompassing federal…
As Artificial Intelligence (AI) continues to transform the landscape of businesses worldwide, it has become a fundamental component of many recent commercial transactions, including industry acquisitions, business assets or licenses. This trend is set to extend even further as the interest in AI technology intensifies. For organisations integrating AI into their available services, there are…
In recent legal news coverage, an intriguing docket paves the way for a range of pressing discussions among legal professionals. Plaintiff seeks sanctions against Rudy Giuliani in a breach of contract lawsuit. While the former NYC mayor is wrapped up in various legal challenges, this recent development certainly demands attention. On a lighter note, Vincent…
Modern business opportunities are taking on a new shape in the 21st century, becoming increasingly intertwined with pressing global issues. One such opportunity lies in the world of sustainability. According to an insightful podcast conversation between Tom Fox, a compliance evangelist, and sustainability guru Richard Blundell, we are at a moment of significant global change…
In a recent podcast episode, The Consumer Finance Podcast delved into the details of the Consumer Financial Protection Bureau’s (CFPB) latest advisory opinion on time-barred debt collection. Hosted by Chris Willis, joined by colleagues Stefanie Jackman, Joe Reilly, and Jonathan Floyd, the podcast takes listeners through the key events that led up to this opinion…
The possibilities and implementation of Artificial Intelligence (AI) are advancing rapidly around the globe, raising new and complex legal issues. This second installment in a series on US regulation of AI systems turns to state-level legislation and significant litigation relevant to AI systems, offering insights and predictions about the future of AI regulation. The first…