Join partners Mike Pierides, from our London office, and Peter M. Watt-Morse, from our Pittsburgh office, at 12:00 pm ET on Tuesday, May 17 as they share highlights from the top articles posted over the past year on our Tech & Sourcing @ Morgan Lewis blog.
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
Emily Lowe and Ben Klaber recently presented a webinar on key contracting considerations in life sciences supply chain and manufacturing transactions as part of Morgan Lewis’ ongoing Digital Disruption and Innovation webinar series.
In late 2021, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) published Circular CSSF 21/785 (the Circular), which introduced a more relaxed approach on the communication requirements in relation to material IT outsourcing (including to cloud-based infrastructures).
The White House issued an executive order on March 9 relating to the responsible development of digital assets in the United States. This executive order outlines the first ever whole-of-government approach to both addressing the risks of digital assets and maximizing the potential benefits.
The UK Financial Conduct Authority (FCA) released a statement on February 14 confirming a series of changes to potentially unfair contract terms that had been agreed with four of the largest providers of Buy Now, Pay Later (BNPL) products operating in the United Kingdom.
The unfolding conflict in Eastern Europe is likely going to cause a wide-ranging impact to companies with business operations or personnel in the region. For technology and commercial contracting professionals, this means potential contract disputes, force majeure issues, business continuity implications, and cybersecurity concerns.
The Law Commission of England and Wales has published a detailed analysis of the application of existing law to smart legal contracts and concluded that the current legal framework is able to facilitate and support the use of smart legal contracts. The Law Commission determined that the jurisdiction of England and Wales "provides an ideal platform for business and innovation, without the need for statutory law reform."
Investment in UK technology companies continues apace, with 2021 marking another record year. The UK government announced in December 2021 that the UK tech sector achieved its “best year ever” in 2021 through investments totaling £29.4 billion, with record IPO capital raising and 37% of all funding coming from the United States. The United Kingdom is creating on average almost one $1 billion “unicorn” technology business a week, primarily fintechs followed by healthtech and enterprise software businesses.
The UK government is considering responses to its proposed reforms to auto-subscription rules for consumer contracts, as part of a broader consultation on reforming UK competition and consumer policy.
As 2021 comes to a close, we have once again compiled all the links to our Contract Corner blog posts, a regular feature of Tech & Sourcing @ Morgan Lewis. In these posts, members of our global technology, outsourcing, and commercial transactions practice highlight particular contract provisions, review the issues, and propose negotiating and drafting tips.