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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News and thought leadership from lawyers who are adding value to the legal profession and the communities we call home.

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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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Japan’s Approach to AI Regulation in 2025

Federal Circuit Clarifies Requirements for Prior Art Under Pre-AIA 35 U.S.C. § 102(e)

AI Agent as a Service in Medtech - Key Considerations for Commercial Contracts

D.C. Circuit Holds that Works Created Solely by AI are Not Copyrightable

Navigating Inventorship in the Era of AI-Assisted Drug Discovery

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On 26 January 2023, the International Swaps and Derivatives Association, Inc. (ISDA) published new standard documentation for the trading of digital asset derivatives (the Digital Asset Definitions), and a whitepaper titled Navigating Bankruptcy in Digital Asset Markets: Netting and Collateral Enforceability (the Whitepaper) that addresses certain legal issues in the context of bankruptcy proceedings. We set out a few key points in respect of each document below.Read our <a href="https://www.mofo.com/resources/insights/230228-isda-digital-asset-derivatives-update" target="_blank">client alert</a>.

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David concentrates on structured transactions involving commodities and derivatives. He also has extensive experience with mergers, acquisitions, and corporate reorganizations. David works closely wit

David Kaufman

David concentrates on structured transactions involving commodities and derivatives. He also has extensive experience with mergers, acquisitions, and corporate reorganizations. David works closely with the firm’s financial institution and end-user clients in the commodity, equity, fixed income, and credit derivative markets, often assisting clients in developing and structuring products.

David H. Kaufman

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ISDA Digital Asset Derivatives Update

Why Should Your Startup Care About Intellectual Property?

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On 26 January 2023, the International Swaps and Derivatives Association, Inc. (ISDA) published new standard documentation for the trading of digital asset derivatives (the Digital Asset Definitions), and a whitepaper titled Navigating Bankruptcy in Digital Asset Markets: Netting and Collateral Enforceability (the Whitepaper) that addresses certain legal issues in the context of bankruptcy proceedings. We set out a few key points in respect of each document below.

ISDA Digital Asset Derivatives Update

The UK Financial Conduct Authority (FCA) has warned cryptoasset firms marketing to UK consumers (including from overseas) to start preparing now to comply with the UK financial promotions regime, which is soon to be expanded to cover most unregulated cryptoassets. HM Treasury (HMT) has also published a policy statement on its approach to regulating cryptoasset financial promotions, in which it has announced that cryptoasset firms which are registered under the Money Laundering Regulations 2017 will be able to communicate their own financial promotions under a planned new exemption. Here, we summarise what firms need to know about the recent announcements. Read our <a href="https://www.mofo.com/resources/insights/230215-cryptoasset-firms-marketing" target="_blank">client alert.</a>

Cryptoasset Firms Marketing to UK Consumers Warned to Begin Preparing for Financial Promotions Regime Now

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Of Counsel

Chloe advises clients on contentious regulatory and white collar crime matters, including internal and external investigations, enforcement proceedings, and related litigation. She has experience advi

Chloe Kearns

Cryptoasset Firms Marketing to UK Consumers Warned to Begin Preparing for Financial Promotions Regime Now

The UK Financial Conduct Authority (FCA) has warned cryptoasset firms marketing to UK consumers (including from overseas) to start preparing now to comply with the UK financial promotions regime

On June 24, 2020, the New York State Department of Financial Services (“NYDFS”) announced a series of initiatives designed to provide further guidance and resources for businesses operating in, and potential new entrants into, the virtual currency industry. The initiatives represent the first major update to NYDFS’ “BitLicense” – the regulatory regime set up in 2015 that governs virtual currency activity involving New York residents and companies, including a proposed conditional licensing framework intended to authorize entities without a BitLicense to engage in virtual currency business in New York under a conditional license. Read our <a href="https://protect-us.mimecast.com/s/Br5FCjRO5BiE41JjcRgzWU?domain=www2.mofo.com">client alert.</a> A special thanks to Amani Carter for her contributions to this client alert.

Anzu Special Acquisition Corp I's Merger with Envoy Medical Corporation

TEAM Services Group's Multiple Acquisitions

McKinsey & Company's Multiple Acquisitions

Antarctica Capital's Acquisition of Descartes Labs

Special New Fruit Licensing's Combination with International Fruit Genetics

MGG Investment Group LP's Sale of Figo Pet Insurance to JAB Holdings Company

Sky Harbour's Business Combination Agreement with Yellowstone Acquisition Company

Axalta Coating Systems' Acquisition of U-POL Holdings Limited

Cornerstone Capital Group's Merger with Pathstone

Verdane Capital Advisors and Confirmit AS's Merger with FocusVision Worldwide

Rakuten Medical's Acquisition from Li-Cor and a Convertible Note Financing

MGG Investment Group's Minority Investment into a U.S. Insurance Brokerage

Pivotal Investment Corporation II's Merger with XL Fleet

Paine Schwartz Partners' Sale of FoodChain ID to Berkshire Partners

FoodChain ID's Acquisition of Nutraveris SAS

Fidelio Capital AB's Acquisition of Veterinary Orthopedic Implants

Western International Securities' Acquisition by Atria Wealth Solutions

Virgo Investment Group's Sale of Portfolio to Nautilus Solar Energy

Wacoal International Corporation's Acquisition of LIVELY

Rakuten Medical's Series D Financing

Sky Harbour's Series B Financing

MGG Investment Group LP's Investment into Figo Pet Insurance

Happiness Capital Limited's Investment into TruTag Technologies

Anzu Special Acquisition Corp I's Forward Purchase Agreements

Sky Harbour's Private Activity Tax-exempt Senior Bonds

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Associate

Lee Nisson is an associate in the firm’s Transactions Department.

Lee Adam Nisson

Lee Nisson

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Summer of Crypto – NYDFS Announces New Initiatives and Regulatory Proposals for Conditional BitLicense and Virtual Currency Regulation

Understanding Blockchain - Blockchain and Securities Law - Part 3

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On June 24, 2020, the New York State Department of Financial Services (“NYDFS”) announced a series of initiatives designed to provide further guidance and resou

Summer of Crypto – NYDFS Announces New Initiatives and Regulatory Proposals for Conditional BitLicense and Virtual Currency Regulation

On March 24, 2020, the Commodity Futures Trading Commission (“CFTC”) issued its final interpretive guidance (the “Interpretation”) concerning the meaning of “actual delivery” in the context of retail commodity transactions involving “virtual currencies.” The Interpretation provides that, in the CFTC’s view, actual delivery of retail commodity transactions in virtual currency has occurred where, within 28 days, (1) a customer has possession and control of the full amount of virtual currency and is able to use it freely and (2) the offeror and counterparty seller do not retain any interest in, legal right or control over the virtual currency. Building on other guidance concerning what constitutes “actual delivery” in the context of retail commodity transactions, the Interpretation provides greater certainty regarding whether retail virtual currency transactions are exempt from CFTC regulation. Read our <a href="https://www.mofo.com/resources/insights/200327-cftc-virtual-currencies.html?=123">client alert.</a>

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CFTC Issues Final "Actual Delivery" Interpretation for Virtual Currencies

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

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On March 24, 2020, the Commodity Futures Trading Commission (“CFTC”) issued its final interpretive guidance (the “Interpretation”) concerning the meaning of “ac

CFTC Issues Final "Actual Delivery" Interpretation for Virtual Currencies

The New ABC's: Artificial Intelligence, Blockchain and How Each Complements the OtherBSA/AML compliance programs in the United States are often associated with high costs and inefficiencies. At the core of the problem is the lack of standardization across institutions and BSA/AML compliance processes such as know your customer (KYC), customer due diligence/enhanced due diligence, and transaction monitoring and alerting. This has resulted in burdensome compliance costs for financial institutions and has also created tense relationships between such institutions and their customers. Artificial Intelligence (AI) and blockchain could help financial institutions tackle this fragmented compliance landscape by making BSA/AML compliance more efficient. The machine-driven processes of AI, combined with the inherently secure and collaborative properties of blockchain, can facilitate a windfall in cost reduction while optimizing regulatory compliance. It is therefore incumbent upon legislators, regulators, developers and the general public alike to understand the potential in combining these two promising technologies into novel enterprise-ready solutions for BSA/AML compliance. Read our <a href="https://protect-us.mimecast.com/s/2o-9CjRO5BiXArqJsRr_rI?domain=www2.mofo.com">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

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Senior Counsel

Vivian is chair of Morrison Foerster’s Sourcing practice. Vivian has concentrated her practice on domestic and multijurisdictional transactions involving technology and intellectual property (IP) fo

Vivian L. Hanson

Vivian is chair of Morrison & Foerster’s Sourcing practice. Vivian has concentrated her practice on domestic and multijurisdictional transactions involving technology and intellectual property (IP) for clients in the media and entertainment, information services, information technologies (IT), financial services, and life sciences industries.

Vivian Hanson

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Compliance for a Digital World: BSA/AML

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

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The New ABC's: Artificial Intelligence, Blockchain and How Each Complements the Other
BSA/AML compliance programs in the United States are often associated with

Compliance for a Digital World: BSA/AML

Artificial intelligence (AI) and blockchain technology are two novel innovations that offer the opportunity for us to move beyond our legacy systems and streamline enterprise management and compliance in ways previously unimaginable. Each technology augments the strengths and tempers the weaknesses of the other. Specifically, AI is an active technology − it analyzes what is around and formulates solutions based on the history of what it has been exposed to. By contrast, blockchain is data agnostic with respect to what is written into it – the technology bundle is largely passive. While these new technology stacks can certainly function on their own merits, AI and blockchain also complement one another in such ways that their combination offers novel business solutions, not only the ability to build upon legacy enterprise systems but also the power to eventually upend them in favor of next level solutions.Getting to that inflexion point, however, takes time and is not without cost. As innovators seek to exploit the convergence of AI and blockchain innovations, they must pay careful attention to overcome both technical and regulatory hurdles that accompany them. Do so successfully, and the rewards promise to be bountiful.Read our <a href="https://protect-us.mimecast.com/s/hHLtC0RXEMi5r0WNHDnmA6?domain=www2.mofo.com">client alert.</a>

The New ABC’s: Artificial Intelligence, Blockchain and How Each Complements the Other

Artificial intelligence (AI) and blockchain technology are two novel innovations that offer the opportunity for us to move beyond our legacy systems and streaml

The New ABC’s: Artificial Intelligence, Blockchain and How Each Complements the Other

<p style="background-color: transparent;box-sizing: border-box;color: rgb(33, 37, 41);font-size: 16px;font-variant-numeric: normal;font-variant-east-asian: normal;line-height: 26.4px;margin-bottom: 16px;margin-top: 0px;">In an article authored for Today’s General Counsel, partner Tracy Bacigalupo discusses how new legislation in Maryland, Senate Bill 136, provides Maryland-formed companies with the statutory framework necessary to migrate their businesses to a blockchain-enabled platform. The legislation reinforces Maryland as a ‘go to’ state for those seeking a pro-business, pro-future statutory framework for their companies. <p style="background-color: transparent;box-sizing: border-box;color: rgb(33, 37, 41);font-size: 16px;font-variant-numeric: normal;font-variant-east-asian: normal;line-height: 26.4px;margin-bottom: 16px;margin-top: 0px;">Senate Bill 136, which Maryland Governor Hogan signed on April 30, 2019, and went into effect on October 1, 2019, “provides explicit statutory authority for Maryland companies to use electronic networks or databases, including distributed ledgers and blockchain technology, for the creation and maintenance of corporate records, including a company’s stock ledger,” writes Tracy. The article then further details the many benefits now available to Maryland companies as a result of this new legislation. <p style="background-color: transparent;box-sizing: border-box;color: rgb(33, 37, 41);font-size: 16px;font-variant-numeric: normal;font-variant-east-asian: normal;line-height: 26.4px;margin-bottom: 16px;margin-top: 0px;">Read the <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt1ab2206f50c4e7a7/627317d00cffdf1eb1369e11/191219-maryland-blockchain-technology.pdf" target="_blank" style="background-color: transparent;box-sizing: border-box;color: rgb(3, 65, 147);text-decoration-line: none;transition-duration: 0.2s;transition-timing-function: cubic-bezier(0.42, 0, 0.58, 1);transition-delay: 0s;transition-property: color;">full article</a>.

Maryland a Leader in Embracing Blockchain Technology

In an article authored for Today’s General Counsel, partner Tracy Bacigalupo discusses how new legislation in Maryland, Senate Bill 136, provides Maryland-forme

Maryland a Leader in Embracing Blockchain Technology

Last week the IRS issued a revenue ruling, FAQs, and a revision to draft Schedule 1 to Form 1040 regarding various aspects of virtual currency transactions.  The guidance is in line with the Treasury 2019-2020 Priority Guidance Plan that also came out last week and listed as items general guidance on virtual currency and guidance specifically reporting on virtual currency transactions pursuant to Internal Revenue Code section 6045.    Read our <a href="https://protect-us.mimecast.com/s/LMBFC31KE3sKJ427FqZfTJ">client alert.</a>

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Anthony J. Carbone is a partner in our New York office and co-chair of the Tax practice.

Anthony J. Carbone

Anthony J. Carbone is a partner in our New York office and co-chair of the Tax practice. He also serves as co-chair of the Federal Tax practice. His practice focuses on tax planning strategies and the tax consequences of a wide range of business, investment and capital markets transactions in the U.S. and internationally.

Anthony Carbone

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IRS Issues New Guidance and Proposed Form 1040 Question Regarding Virtual Currency

The Most Common Intellectual Property Mistakes of Startups