Now more than ever, technology is influencing the way we do business, communicate, move through and around the world, access and manage our homes, receive and administer healthcare, make purchases, secure information, and protect our most valuable property. Morrison Foerster keeps pace with this rapidly evolving landscape across our internationally recognized corporate, finance, intellectual property, and litigation practices. MoFo Tech brings together our insights relating to fields such as blockchain and distributed ledger, cloud and as-a-service technologies, driverless cars, drones, fintech, computer hardware and software, the Internet of Things, semiconductors, and telecommunications. The MoFo Tech blog offers real-time, in-depth analyses of the trends and complex issues shaping the global technology industry.<h2>ABOUT MORRISON FOERSTER</h2>Morrison Foerster is a leading global law firm that transforms complexity into advantage for its clients. Our clients include some of the largest financial institutions, banks, consulting and accounting firms, and Fortune 100, technology, and life sciences companies. Highlighting the firm’s commitment to client service, leadership in market-changing deals and impact litigation, and values-based culture, Morrison Foerster has been repeatedly recognized as one of the top 10 firms on The American Lawyer’s A-List. Year after year, the firm receives significant recognition from Chambers and The Legal 500 across their various guides, including Global, USA, Asia‑Pacific, Europe, UK, Latin America, and FinTech Legal. Our lawyers passionately care about delivering legal excellence while living our values. Morrison Foerster has a long-standing commitment to creating a culture that respects and celebrates differences, while providing an inclusive environment. The firm has achieved Mansfield Certification Plus since 2018 as a result of successfully reaching at least 30 percent women, communities of color, and LGBTQ+ lawyer representation in a notable number of current leadership roles and committees. The firm also has a long history of commitment to the community and society through providing pro bono legal services, including litigating for civil rights and civil liberties, improving public education and fostering the wellbeing of children, advocating for veterans, promoting international human rights, enforcing the right to asylum, and safeguarding the environment.

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Scott Llewellyn’s practice focuses on complex litigation in federal and state courts around the country, with an emphasis on patent and trade secret disputes. Over the past decade, he has worked on some of the most significant, high–profile IP cases involving technology for televisions, smartphones, and self–driving cars, relying on 40 years of experience with computer hardware and software. Scott also has significant experience with business divorce cases before courts and arbitrators, involving a mix of trade secret, patent, tort, and contract claims relating to technology development and implementation.Scott also has successfully tried general commercial arbitration and agency matters, briefed and argued various appeals in federal appellate court, and tried more than 20 cases for the Denver City Attorney’s office, most of them jury trials.Scott also has an active pro bono practice, having worked on a variety of criminal and immigration appeals, and having represented Colorado criminal defense and mental health organizations in high–profile suits against the state of Colorado for violations of the constitutional rights of defendants.At MoFo, Scott serves on the board of the Morrison & Foerster Foundation. In the broader legal community, he serves on the boards of the Colorado Lawyers Committee and Drop in the Bucket (a charity that builds wells and sanitation systems in sub–Saharan Africa).After law school, Scott clerked for the Honorable Clarence A. Brimmer, District of Wyoming, and the Honorable Diarmuid F. O’Scannlain, Ninth Circuit. He was also previously an adjunct professor at the Georgetown University Law Center.

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Partner

Scott Llewellyn’s practice involves complex litigation before state and federal courts around the country, with an emphasis on patent and trade secret disputes for high-tech companies, to which he brings more than 35 years of experience with computer hardware and software, in particular relating to the processing and transmission of audio, video, voice, and other types of data. Mr. Llewellyn has also tried commercial arbitration and agency matters; briefed and argued various appeals in federal appellate court; and tried more than 20 cases for the Denver city attorney’s office, most of them jury trials.

Scott F. Llewellyn

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MoFo Tech brings together legal insights and in-depth analyses on trends and complex issues shaping the global technology industry, covering fields such as blockchain and distributed ledger, cloud and SaaS technologies, driverless cars, drones, FinTech, computer hardware and software, the IoT, semiconductors, and telecommunications.

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Provides insights and reports on the most current class actions lawsuits and product liability issues that affect consumer-facing companies.

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MoFo Tech brings together legal insights and in-depth analyses on trends and complex issues shaping the global technology industry, covering fields such as blockchain and distributed ledger, cloud and SaaS technologies, driverless cars, drones, FinTech, computer hardware and software, the IoT, semiconductors, and telecommunications.

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At the Intersection of Technology, Law, and Business

At the Intersection of Technology, Law, and Business

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Current State of the AI VC Financing Market

MoFo Tech Law Summit – Tech and Antitrust: Policy Shifts in the Second Trump Administration

MoFo Tech Law Summit – Responsible Tech: Policy Becomes Practice

AI Dynamics: Regulatory Landscape and Industry Insights

Introducing the MoFo Tech Law Summit – Innovation Under Regulation

From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards covering the European Economic Area relating to the second EU Payment Services Directive, which took effect in January 2018. Retailers are uncertain whether these new European anti-fraud measures will cause consumers to abandon online purchases. Read our client alert for guidance on transactions that might be impacted or exempt.Read our <a href="https://protect-us.mimecast.com/s/I24zCwpR2xSJN6RBC93JQN">client alert</a>.

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Could Strong Consumer Authentication Weaken Consumer Demand?

UK Regulations: Urgent Action Required from Loan-Based Crowdfunding Platforms

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From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards 

Could Strong Consumer Authentication Weaken Consumer Demand?

In the first episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino define blockchain for those without a technical background. They break down how it works, what it’s used for, and technologies under the blockchain umbrella, such as cryptography, distributed peer-to-peer ledger systems, and incentive mechanisms to service the network.This ongoing series is dedicated to providing an overall understanding of blockchain technology and how companies can use it to share, store, and record valuable data through a secure, immutable network.

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Understanding Blockchain - What is Blockchain?

A Rush to Patent the Blockchain Is a Sign of the Technology’s Promise

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In the first episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino define blockchain for those without a technical

Understanding Blockchain - What is Blockchain?

Morrison & Foerster partner <a href="https://protect-us.mimecast.com/s/xuQZC0RXEMiq81EBu20TxX">Tracy A. Bacigalupo</a> and the <a href="https://protect-us.mimecast.com/s/H4CbCgJQ8yHOkMgyI3NE_h">Blockchain + Smart Contracts Group</a> are delighted to have played a role in the genesis and implementation of Maryland Senate Bill 136, which amends the Maryland General Corporation Law to permit certain corporate records (including a company’s stock ledger) to be maintained on electronic networks or databases, including through the use of distributed ledgers and blockchain technology. This new law provides Maryland companies with the flexibility and advantages of utilizing both traditional and new technologies. Maryland is now one of the most competitive states in the innovative area of blockchain technology and smart contracts.Read our <a href="https://protect-us.mimecast.com/s/-b38CjRO5BiK9W6mc1ufuo">client alert</a>.

Blockchain Technology Embraced by Maryland Legislature

Morrison & Foerster partner Tracy A. Bacigalupo and the Blockchain + Smart Contracts Group are delighted to have played a role in the genesis and implementation

Blockchain Technology Embraced by Maryland Legislature

Morrison & Foerster partner John Carlin, the former top national security lawyer for the Department of Justice, was recently featured on CBS's 60 Minutes. John spoke to 60 Minutes correspondent Lesley Stahl for a report drawn from a chapter of his book Dawn of the Code War on “The Growing Partnership Between Russia's Government and Cybercriminals.” He provided an in-depth analysis as to why Russian intelligence agencies are piggybacking off the cybercriminal enterprise and recalled the exploits of two Russian hackers — both hackers are among the FBI's most wanted cybercriminals today.Read our <a href="https://protect-us.mimecast.com/s/PtZ3CZ6mvgUr458rFK2iwS">client alert</a>.

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John Carlin Discusses the Latest Threats of Global Cyber Attacks on CBS's 60 Minutes

Court Allows Microsoft to Challenge Secrecy of User Data Requests

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Morrison & Foerster partner John Carlin, the former top national security lawyer for the Department of Justice, was recently featured on CBS's 60 Minutes. John 

John Carlin Discusses the Latest Threats of Global Cyber Attacks on CBS's 60 Minutes

The Financial Crimes Enforcement Network (“FinCEN”) issued a press release announcing a civil money penalty for violations of the Bank Secrecy Act against Eric Powers, an individual who acted as a peer-to-peer virtual currency exchanger. The enforcement action is the first-ever penalty assessed by FinCEN against a peer-to-peer virtual currency exchanger. Our alert discusses this recent action by FinCEN and its implications.Read our <a href="https://protect-us.mimecast.com/s/1E9gCqxM6ofK6w2BCQvap3">client alert</a>.

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Marc–Alain’s practice focuses on advising and counseling global banks, financial holding companies, bank holding companies, and other financial institutions on a variety of bank regulatory, Bank Secre

Marc-Alain Galeazzi

In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger

The Financial Crimes Enforcement Network (“FinCEN”) issued a press release announcing a civil money penalty for violations of the Bank Secrecy Act against Eric 

In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger

Read Lokke Moerel’s article on the NYU Blog Compliance & Enforcement on the impact of the decision of the French data protection against Google refusing to apply the GDPR’s “one-stop-shop” enforcement mechanism. Find out more <a href="https://wp.nyu.edu/compliance_enforcement/2019/04/15/gdpr-what-happened-to-one-stop-shop-enforcement/">here</a>.

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Senior Of Counsel

Among the world’s best-known privacy and cybersecurity advisers, Lokke Moerel is regularly called upon by some of the most sophisticated multinational organizations to confront their global privacy and ethical challenges. Lokke routinely offers guidance to clients when implementing new technologies and digital business models and assists them with their global cybersecurity incident response and regulatory investigations.

Lokke Moerel

Lokke Moerel is among the world’s best-known privacy lawyers. She advises companies on their global information handling governance, strategy, and compliance. “An authority on data protection matters” (Chambers 2014), Lokke is consistently ranked as a leader in data protection law in Chambers Global and Legal 500. She is also professor of global ICT law at Tilburg University, member of the Cyber Security Council of the Netherlands, the advisory body of the Dutch cabinet, and member of the Board of Trustees of WWF International.What do you like best about your work? I enjoy thinking about the data privacy issues and ethical dilemma’s presented by the new technologies, and helping companies decide on how to tune them and implement on a global basis, in an emerging regulatory environment.What do you enjoy doing in your free time? Travel with my husband and three children, the modern arts, but most of all, a good book!What individual most inspired you, and why? In my former EU-based firm, there were no female role- models (I was the first female partner with children) and partners step out at age 55. After moving to MoFo, I met women years older than me and fully at the forefront of their field. What an inspiration! I still have a whole career in front of me.

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GDPR: What Happened To One-Stop-Shop Enforcement?

California Supreme Court Clarifies Standards for Whistleblower Claims Under California Labor Code Section 1102.5

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Read Lokke Moerel’s article on the NYU Blog Compliance & Enforcement on the impact of the decision of the French data protection against Google refusing to appl

GDPR: What Happened To One-Stop-Shop Enforcement?

On April 3, 2019, the Strategic Hub for Innovation and Financial Technology of the U.S. Securities and Exchange Commission (“SEC”) published two pieces of guidance on when a blockchain-enabled digital asset will, or will not, be considered a security. The first piece of guidance (the “TKJ No-Action Letter”) was a no-action letter issued by the SEC’s Division of Corporation Finance in response to a request from TurnKey Jet, Inc., a Florida-based air carrier and air taxi operator. The TKJ No-Action Letter represents the first time that the SEC staff has indicated that it would not recommend enforcement action to the SEC if, in reliance on counsel’s opinion that the digital assets are not securities, the subject entity offers and sells securities without registration under the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended.The second piece of guidance came in the form of a “Framework for ‘Investment Contract’ Analysis of Digital Assets” that is intended to serve as “an analytical tool to help market participants assess whether the federal securities laws apply to the offer, sale, or resale of a particular digital asset.”Read our <a href="https://protect-us.mimecast.com/s/kh91CmZM8kiBK1g8TBvE95">client alert</a>.

Marrone Bio Innovations' Acquisition by Bioceres Crop Solutions Corp

Temasek’s Joint Venture with Bayer

SoftBank Group and SoftBank Vision Fund’s Investment Transactions

Temasek's Investment in Verily Life Sciences and Agtech Space

Intel's Investment in Cloudera

Visa's Strategic Investments in the Fintech Space

Marrone Bio Innovations’ Public Offerings

Ekso Bionics Holdings, Inc.’s Stock and Warrant Financings

Temasek's Investment in Coherus, Inc.

Catalyst Biosciences, Inc. IPO/Reverse Merger and Public Offerings

RH's Public Offerings

InvenSense's Public Offerings

At-the-Market Programs

Marrone Bio Innovation’s Acquisition of Pro Farm and Jet-Ag

SoftBank's Acquisition of Sprint

Novellus' Merger with Lam Research

Shutterfly's Acquisition of Tiny Prints

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Alfredo Silva is a partner in the Transactions Department, co-chair of the firm's Social Enterprise and Impact Investing Group, and a member of the ESG Strategy Committee.

Alfredo B. D. Silva

Alfredo Silva is co-chair of the firms Social Enterprise + Impact Investing practice and member of the firm’s Pro Bono Committee. He represents public and private companies and investors in a broad range of corporate and securities law matters, as well as nonprofit organizations on entity formation, fiduciary issues, and structuring.

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SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets

Do You Want to Launch an ICO? Please, Listen to the SEC

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On April 3, 2019, the Strategic Hub for Innovation and Financial Technology of the U.S. Securities and Exchange Commission (“SEC”) published two pieces of guida

SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets

The Japanese Financial Services Agency (“FSA”), Japan’s primary financial regulator, announced on March 15, 2019, that it was submitting a bill to the Diet to amend both the Payment Services Act (the “PSA”) and the Financial Instruments and Exchange Act (the “FIEA”) relating to how the purchase and sale of cryptocurrencies is regulated in Japan (the “Proposed Amendment”).In Japan, the current regulations governing businesses that purchase or sell cryptocurrencies, intermediate the purchase or sale of cryptocurrencies, or provide exchange services for cryptocurrencies (collectively, “Virtual Currency Exchange Services”) were introduced via an amendment to the PSA in 2016, which came into effect on April 1, 2017. Under the PSA, companies providing Virtual Currency Exchange Services on a “business basis” are generally required to register with the FSA in advance.As of March 25, 2019, there were 19 registered providers of Virtual Currency Exchange Services (“Virtual Currency Exchange Service Providers”) in Japan, and it has been reported that there are many others waiting in line for their licenses to be issued. However, the FSA delayed processing pending applications after a series of sanctions were imposed on several Virtual Currency Exchange Service Providers (and other entities grandfathered in to operate such services under the 2017 amendment to the PSA) over the past year due to issues, such as the insufficient management of their operations, failure to comply with applicable regulations, and losses of a significant quantity of cryptocurrencies as a result of security breaches and computer hacks. As a result of these events, the FSA raised its standards for granting new licenses (essentially temporarily suspending the process) while simultaneously preparing the amendments to the PSA that were recently proposed.Prior to drafting the Proposed Amendment, the FSA set up a Study Group on Virtual Currency Exchange Services in March 2018, which published a report regarding its recommendations on December 21, 2018. The Proposed Amendment is generally in line with the recommendations set forth in the report.Read our <a href="https://protect-us.mimecast.com/s/519bC1wBEMsrQWD5UpU1EH">client alert</a>.

SoftBank and HAPSMobile’s renegotiation of the joint venture with AeroVironment, Inc.

A global software company’s joint venture to commence operations in Japan

Mitsubishi UFJ Financial Group’s US$706 million investment in Grab Holdings Inc.

Mitsubishi Heavy Industries’ US$550 million carve-out acquisition

SoftBank Group’s US$9.6 billion investment in Xiaoju Kuaizhi Inc.

Alibaba Group’s acquisition of an equity interest in Ant Financial.

Toshiba’s divestiture of its legacy TV business to Hisense Electric Co., Ltd.

A global technology consulting firm’s software licensing and open source issues

Softbank’s US$1 billion investment in OneWeb

Kaken Pharmaceutical’s various development and commercialization partnerships

SoftBank’s IP and commercial issues

Otsuka’s development and commercialization agreement

TDK’s joint venture with Qualcomm

Splunk’s acquisition of Caspida, Inc.

AccuWeather’s joint venture with Huafeng Media Group

Yahoo! Japan’s partnerships with various advertising technology service providers

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Seth Graham is a partner in Morrison & Foerster’s Technology Transactions Group and advises clients on a wide range of transactional matters involving technology and intellectual property, including licensing arrangements, technology transfers, outsourcing transactions, development agreements, and other commercial and services arrangements.

Seth M. Graham

FSA Proposes Bill to Amend Japanese Laws Regulating Cryptocurrency-Related Businesses

The Japanese Financial Services Agency (“FSA”), Japan’s primary financial regulator, announced on March 15, 2019, that it was submitting a bill to the Diet to a

FSA Proposes Bill to Amend Japanese Laws Regulating Cryptocurrency-Related Businesses

On July 16, 2015, the European Court of Justice (ECJ) rendered its seminal decision in Huawei v. ZTE.  In its decision, the ECJ provided fundamental guidance for the licensing and enforcement of standard essential patents (SEPs) that are subject to a FRAND licensing commitment (i.e., a commitment by the patent owner to license those patents on fair, reasonable, and nondiscriminatory terms). While Huawei and ZTE have settled the patent dispute that gave rise to the ECJ’s judgment, the decision left it to courts in Germany and other European countries to apply and refine the general principles laid out by the ECJ. The case law on what is known as the “FRAND defense” in injunction proceedings is evolving and remains unsettled in important areas. Since our last update (see First German Decisions Applying the ECJ’s Huawei v. ZTE Framework on Injunctions for Standard Essential Patents), there have been several important decisions in Germany, the United Kingdom, and elsewhere that have applied and interpreted the Huawei v. ZTE guidelines.Read our <a href="https://protect-us.mimecast.com/s/o418C9rLGjHJlRB9h3_oxk">client alert</a>.

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FRAND Case Law in Europe After Huawei v. ZTE

Supreme Court Restricts the Extraterritorial Reach of U.S. Patent Law for Exported Goods

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On July 16, 2015, the European Court of Justice (ECJ) rendered its seminal decision in Huawei v. ZTE.  In its decision, the ECJ provided fundamental guidance fo

FRAND Case Law in Europe After Huawei v. ZTE