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The use of artificial intelligence (AI) to create various forms of media raises interesting legal issues relating to the protection of intellectual property. Generative AI is being used to create songs that have vocals and other characteristics that mimic the sound and style of famous musicians. In...
Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to developments during the first quarter of 2024. If you would like to discuss...
The Third Circuit has a reputation as being a “plain meaning” court—meaning that it strictly construes and applies the words of a statute. Its January 19, 2024, opinion in In re FTX Trading Ltd., No. 23-2297 (3rd Cir. Jan. 19, 2024) (“ FTX”) is an example. The relevant facts in the “highly complex”...
The decision of the Federal District Court for the Northern District of Alabama in the case of National Small Business United v. Yellen , announced on Friday, March 1, 2024, has created uncertainty for both reporting companies and their attorneys under the Corporate Transparency Act (“CTA”). What...
Within the last year ‘ChatGPT’ has become a household name. Some may even know that a company called OpenAI created the chatbot service based on artificial intelligence. What you may not know is that OpenAI applied to register the term “GPT” as a trademark, and that application was recently rejected...
The federal Corporate Transparency Act (“CTA”) requires that corporations submit a report to the Financial Crimes Enforcement Network (“FinCEN”) before January 1, 2025, with information on the persons who exercise substantial control over the corporation. As currently in place, condominium and...
"Innovation continues across industries at a rapid pace. Many companies maintain highly valuable trade secrets and private data that provide them with a competitive market advantage. The rapidly evolving technological landscape, however, leads to new and more sophisticated threats to a company’s...
"The use of artificial intelligence (AI) to generate creative works and inventions raises interesting legal challenges to the protection of intellectual property. Courts have become the battleground for one individual in particular, Dr. Stephen Thaler, to test whether creative works and inventions...
For all “reporting companies” created or registered on or after January 1, 2024, information concerning the “beneficial owners” of the reporting company must be reported to the Financial Crimes Enforcement Network (“FinCEN”) along with information concerning “company applicants.” As a result, both...
Introduction The introduction to the final regulations issued under the Corporate Transparency Act (“CTA”) by the Financial Crimes Enforcement Network of the United States Treasury (“FinCEN”) states that, “[i]llicit actors frequently use corporate structures such as shell and front companies to...
On November 21, 2023, the Federal Trade Commission (FTC) approved a resolution allowing it to use “compulsory process in nonpublic investigations involving certain products and services that use or claim to be produced using artificial intelligence (AI) or claim to detect its use.” This allows the...
“Company applicants” — the term may sound vague, but the identities of “company applicants” of reporting companies are just as important under the new federal Corporate Transparency Act (the “CTA”) as the identities of the beneficial owners of those companies. What You Need to Know: The era of...
In an age where technology permeates nearly every facet of business, the importance of having a general understanding of Information Technology (IT) contracts is crucial.
A previous article discussed the rising prevalence of mediation in large chapter 11 bankruptcies, especially its use in previously rare scenarios such as plan confirmation. Part II considers a more traditional mediation topic: adversary proceedings.
In September, the Consumer Financial Protection Bureau issued guidance on compliance with the Equal Credit Opportunity Act’s adverse action notice requirements for lenders utilizing artificial intelligence in their credit decision process. Specifically, the Bureau noted that lenders may not rely...