The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to avoid bad actors or illicit funds and how to limit regulatory risk. As we've noted previously, U.S. regulators generally have stayed silent on new NFT-specific rules so far—but that silence does not preclude liability based on existing laws, including being "willfully blind" to...

Customer service is generally defined as the provision of service to customers before, during, and after a purchase. The “customer is always right” was born out of companies seeking to maximize the customer service aspect of their business, in hopes of maintaining a loyal base of customers, and a steady stream of business. Customer service has increased in importance as the saturation of products or services and the companies that provide them have increased across the economy so much...

According to the European Commission, its new REPowerEU package of measures helps European citizens and businesses save energy, produce more clean energy, and make the European Union independent from Russian fossil fuels well before 2030. Once implemented, it is expected to help Europe save €100 billion annually on gas, oil and coal imports. The plan sets out a series of legislative and non-legislative measures to rapidly reduce the EU’s dependence on Russian fossil fuels and accelerate the green energy transition kick-started by...

EU lawmakers are preparing a new Artificial Intelligence Act (AIA). Timing for adoption remains unclear, but once the AIA enters into force, it will impose strict obligations on providers and users of AI systems. In the meantime, EU regulators have started issuing fines against companies using AI systems on the basis of the EU General Data Protection Regulation (GDPR). For example, the Hungarian privacy regulator recently issued a fine of approximately $680,000 against a bank for non-compliance with GDPR...

Stout's Royalty Audit Guide explains the rationale for and execution of a royalty audit. We discuss the various reasons for conducting such an audit, how to perform it — from selecting a royalty auditor to performing a site visit — and the nuanced contract provisions that make it possible. Over the last several years, brands and licensors, focused on identifying new and cost-effective revenue streams, have found innovative licensing opportunities. In particular, with the continual proliferation of video streaming, online...

Flen Health's leadership team will be hosting an Advisory Board Roundtable in Boston on the 13th of July, from 5:00 pm to 9:00 pm at The Westin Copley Place. This roundtable coincides with the Advanced Wound Care Summit, which will also take place in Boston during the same week. The discussion will focus on the nonclinical, clinical, regulatory, and reimbursement aspects of bringing Flaminal® through a drug or biological development pathway to the United States. The panel will feature high-level experts...

Growth of eCommerce As has been widely reported, eCommerce sales have risen dramatically in recent years1. COVID clearly accelerated this trend, but consumers increasingly prefer direct-to-consumer and eCommerce purchasing channels. This growing trend places strain not only on companies managing the transactions, but also on regulatory agencies responsible for enforcing international transaction regulations, primarily Customs and Border Protection (CBP) in the U.S. eCommerce fulfillment relies heavily on a U.S. Importation procedure known as “de minimis,” which many eCommerce companies are increasingly...