In this edition of Insights, we take a closer look at the megadeals and sponsor transactions driving recent M&A activity, the importance of staying ahead of the risks in AI development and deployment, and other diverse...more
9/30/2024
/ Acquisitions ,
Administrative Procedure Act ,
Artificial Intelligence ,
Chevron Deference ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Corporate Governance ,
Delaware General Corporation Law ,
Federal Bans ,
Federal Trade Commission (FTC) ,
Final Rules ,
Government Agencies ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
Machine Learning ,
Mergers ,
Non-Compete Agreements ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Authority ,
Regulatory Requirements ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
Shareholders ,
Technology Sector
As AI systems become more complex, companies are increasingly exposed to reputational, financial and legal risks from developing and deploying AI systems that do not function as intended or that yield problematic outcomes....more
9/30/2024
/ Artificial Intelligence ,
Corporate Governance ,
Cybersecurity ,
Data Privacy ,
NIST ,
Popular ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Technology Sector ,
U.S. Commerce Department
California has enacted three new bills in an effort to curb the spread of misinformation and deceptive election content.
The bills — AB 2655, AB 2839 and AB 2355 — aim to strengthen protections against digitally altered...more
9/27/2024
/ Artificial Intelligence ,
Artificial Reproduction ,
California ,
Deep Fake ,
Governor Newsom ,
Legislative Agendas ,
New Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government ,
State Legislatures ,
Technology Sector
In the absence of federal legislation addressing the development and deployment of artificial intelligence (AI) systems, individual states continue to fill that void by enacting state-specific legislation....more
9/25/2024
/ Advertising ,
Artificial Intelligence ,
Artificial Reproduction ,
California ,
Cybersecurity ,
Data Privacy ,
Deep Fake ,
Governor Newsom ,
Intellectual Property Protection ,
Legislative Agendas ,
New Legislation ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government ,
Technology Sector
On September 9, 2024, the Chief Accountant of the U.S. Securities and Exchange Commission (SEC), Paul Munter, delivered remarks describing circumstances in which, in the SEC staff’s view, entities may engage in cryptoasset...more
Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more
9/10/2024
/ Algorithms ,
Antitrust Division ,
Artificial Intelligence ,
Banking Sector ,
Board of Directors ,
Competition ,
Corporate Governance ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
EU ,
Financial Institutions ,
FinTech ,
Multinationals ,
Price-Fixing ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Sustainability ,
Technology Sector ,
UK
As AI systems become more complex, companies are increasingly exposed to reputational, financial and legal risk from developing and deploying AI systems that do not function as intended or that yield problematic outcomes. The...more
9/4/2024
/ Artificial Intelligence ,
Corporate Governance ,
Cybersecurity ,
Data Privacy ,
EU ,
Machine Learning ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Technology Sector ,
UK
On August 12, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) provided comments on the use of artificial intelligence (AI) in the financial services sector that are among its most extensive regarding risks and...more
On July 31, 2024, the United States Copyright Office (Copyright Office) published a report urging Congress to create a federal law protecting individuals against unauthorized artificial intelligence (AI) generated digital...more
Explore the unique considerations for mergers and acquisitions in the AI sector, the return of IPOs, the implications of new Supreme Court decisions and other developments in this edition of Skadden’s quarterly Insights....more
6/27/2024
/ Acquisitions ,
Antitrust Provisions ,
Banking Sector ,
Capital Markets ,
Consumer Financial Products ,
Consumer Protection Laws ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Executive Compensation ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Intellectual Property Protection ,
Life Sciences ,
Mergers ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Technology
The newly approved Artificial Intelligence Act (AI Act or the Act) aims to create a secure and trustworthy environment for the development and use of AI in the European Union....more
6/27/2024
/ Artificial Intelligence ,
Compliance ,
Consumer Financial Products ,
Consumer Protection Laws ,
Cybersecurity ,
Data Privacy ,
EU ,
FinTech ,
General Data Protection Regulation (GDPR) ,
Intellectual Property Protection ,
Privacy Laws ,
Technology Sector
Colorado has become the first state to enact a comprehensive law relating to the development and deployment of certain artificial intelligence (AI) systems. The Colorado Artificial Intelligence Act (CAIA), which will go into...more
6/24/2024
/ Artificial Intelligence ,
Colorado ,
Consumer Financial Products ,
Consumer Protection Laws ,
Cybersecurity ,
Data Privacy ,
Disclosure Requirements ,
FinTech ,
Machine Learning ,
New Legislation ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management
The recent California district court decision dismissing the complaint in X Corp. v. Bright Data Ltd. could have significant implications for companies that rely on their terms of use to prohibit unauthorized “data scraping”...more
5/22/2024
/ Artificial Intelligence ,
Copyright ,
Copyright Litigation ,
Copyright Registration ,
Corporate Counsel ,
Intellectual Property Litigation ,
Intellectual Property Protection ,
Motion to Dismiss ,
Preemptive Challenges ,
Technology ,
The Copyright Act ,
Web Scraping
Rather than specifically regulating artificial intelligence (AI), the UK government has opted to rely on the existing web of laws and regulations applying to technology across a spectrum of sectors in its jurisdiction. But...more
5/13/2024
/ Artificial Intelligence ,
Cybersecurity ,
Data Privacy ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Information Commissioner's Office (ICO) ,
Popular ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
On April 11, 2024, the United States Patent and Trademark Office (USPTO or Office) published new guidance on the use of artificial intelligence (AI) based tools in connection with preparing and prosecuting patent and...more
5/9/2024
/ Artificial Intelligence ,
Disclosure Requirements ,
Duty to Disclose ,
Intellectual Property Protection ,
New Guidance ,
Patent Applications ,
Patent Trial and Appeal Board ,
Patents ,
Policies and Procedures ,
Rules of Professional Conduct ,
Trademark Application ,
Trademark Trial and Appeal Board ,
Trademarks ,
USPTO
On March 13, 2024, Utah enacted the Utah Artificial Intelligence Policy Act (UAIP), which imposes certain disclosure requirements on entities using generative AI tools with their customers, and limits an entity’s ability to...more
4/8/2024
/ Artificial Intelligence ,
Consumer Protection Laws ,
Corporate Counsel ,
Cybersecurity ,
Disclosure Requirements ,
Fines ,
Machine Learning ,
New Legislation ,
Penalties ,
Policies and Procedures ,
Popular ,
Reporting Requirements
Tennessee has enacted the Ensuring Likeness, Voice and Image Security (ELVIS) Act, which aims to protect individuals from the use of their persona in connection with “deepfakes” (i.e., fake content generated by artificial...more
4/3/2024
/ Artificial Intelligence ,
Fraud ,
Innovative Technology ,
Intellectual Property Protection ,
Legislative Agendas ,
Machine Learning ,
Music Industry ,
Name and Likeness ,
New Legislation ,
Private Right of Action ,
Regulatory Agenda ,
State and Local Government ,
Technology ,
Tennessee
Two recent developments, one in the U.S. and one in the U.K., have shed further light on the intersection of patent law and artificial intelligence (AI), particularly with respect to whether AI-generated inventions can be...more
3/25/2024
/ Artificial Intelligence ,
Innovative Technology ,
Intellectual Property Protection ,
Inventions ,
Inventors ,
Patent Applications ,
Patent Litigation ,
Patent-Eligible Subject Matter ,
Patents ,
UK ,
USPTO
Two recent developments highlight the challenges companies may face as they explore ways to incorporate AI-based chatbots into their customer service offerings:
- A putative class action filed in California federal...more
2/27/2024
/ Artificial Intelligence ,
Bots ,
CIPA ,
Corporate Counsel ,
Customer Service Calls ,
Customers ,
Cybersecurity ,
Data Collection ,
False Statements ,
Information Sharing ,
Mass Tort Litigation ,
Policy Violations ,
Prior Express Consent ,
Privacy Laws ,
Putative Class Actions ,
Technology
A recent decision by a California district court in J. Doe 1 v. GitHub, Inc., a case brought by computer programmers alleging that their works had been used to train AI models that generate computer code in violation of their...more
SEC Wins Summary Judgment on Howey Issue in Terraform Litigation -
On December 28, 2023, Judge Jed Rakoff in the Southern District of New York issued a summary judgment decision in SEC v. Terraform Labs Pte. Ltd., a...more
A proposed settlement action filed on December 19, 2023, by the Federal Trade Commission (FTC) against Rite Aid Corp. highlights some of the key issues presented when companies use artificial intelligence (AI) for facial...more
1/8/2024
/ Algorithms ,
Artificial Intelligence ,
Commercial Litigation ,
Customer Privacy ,
Customers ,
Facial Recognition Technology ,
Federal Trade Commission (FTC) ,
Privacy Laws ,
Rite Aid ,
Settlement Proposals ,
Technology Sector
Copyright Office Rejects Application for AI-Generated Work Based on a Photograph --
On December 11, 2023, the Review Board of the United States Copyright Office (Board) rejected a Second Request for reconsideration with...more
Court Grants Motion To Dismiss in Kadrey AI Training Data Case -
In a short but sharply worded decision, a California district court on November 20, 2023, granted the defendants’ motion to dismiss in Kadrey v. Meta...more
11/27/2023
/ Artificial Intelligence ,
Authorship ,
California ,
Copyright ,
Copyright Infringement ,
Copyright Litigation ,
Derivative Works ,
Dismissals ,
DMCA ,
Intellectual Property Protection ,
Machine Learning ,
Metadata ,
Metaverse ,
Motion to Dismiss ,
Putative Class Actions
Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more
11/16/2023
/ AML/CFT ,
Compensation ,
Corporate Misconduct ,
Criminal Investigations ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Derivatives ,
Digital Assets ,
Enforcement Actions ,
Fraud ,
Futures ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Insurance Industry ,
Internal Controls ,
Investors ,
Jurisdiction ,
Know Your Customers ,
Licensing Rules ,
Misleading Statements ,
New Regulations ,
Popular ,
Regulatory Agenda ,
Retail Investors ,
Securities ,
Stablecoins ,
Stock Trades ,
Trading Platforms