Stephen Fox

👀👀👀 Looking forward to seeing everyone at today's SEC Cyber Disclosure Rules Bootcamp. This first-ever event is being led by David Anderson, CIPP/US, Woodruff Sawyer, Pondurance, and Frankfurt Kurnit Klein & Selz. Join me, David, and Yelena Dunaevsky as we talk through the insurance implications. Spoiler alert, we're going to be discussing many different lines of coverage! #insurance #riskmanagement #cyberdisclosure #cyberinsurance #dandoinsurance

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Always nice to see legal roles popping up in the start up world! Especially when they mean you get to work with someone as awesome as Chevaun Tarrach - this can be based US or UK - worth a look if you’re paralegal or legal ops! #paralegaljobs #legalops #legalopsjobs #hiring

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“Focused on GAI, the opinion addresses six core principles: competence, confidentiality, communication, meritorious claims and candor to tribunal, supervision and fees. A theme of reasonableness underlies the opinion; competence, for example, does not require GAI expertness, but a ‘reasonable understanding’ of the technology’s capabilities and limitations, which cannot remain ‘static.’ How much ‘independent verification or review’ will depend on the circumstances of the task. When the ABA first discussed adding a technological component to the competence rule, concern was raised as to the cost to the smaller firms or solo practitioners. The opinion appropriately does not attempt a one-size-fits-all admonition, but emphasizes the balancing of factors.” https://lnkd.in/eFb7nYp5

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How did the Kirkland partner video get leaked is the question we’re asking ourselves. Some are recalling the infamous ‘Claire Swire email’ which involved a Norton Rose lawyer from way back at the dawn of time in 2000 and the one too from a CC lawyer back in 2003. *All articles and videos can be found in the comments section. Clifford Chance Adopts US-Style Bonus System for Associates: Clifford Chance has revamped its bonus system for UK associates to align more closely with those offered by US firms, according to The Lawyer . The new system, introduced last month, rewards associates more when they are in higher demand, with bonuses linked to the number of hours billed. This US-style focus on billables marks a departure from the ‘no target-hours culture’ prevalent at many UK firms. Clyde & Co Boosts Revenue by 10%: Clyde & Co has reported strong financial results for the past year, with revenue growing by 10% to £845 million. Profit per equity partner (PEP) increased by 4% to £739,000. The firm attributed its growth to success across various practice areas, emphasizing its "sector-focused, geographically hedged" model. Over the year, Clyde & Co added 32 new partners through lateral hires and internal promotions. Kirkland & Ellis Partner Video Goes Viral in the City: A video leaked to RollOnFriday shows two Kirkland & Ellis partners in London mocking a fellow partner during a work call, culminating in him knocking over a bottle of whisky. The footage, recorded in Kirkland's London office in the Gherkin, is circulating among City lawyers. In the video, the partner gives the middle finger to the person filming but nearly drops a bottle of Macallan whisky before catching it. Reactions in the comments are mixed. One top comment expressed sympathy, saying, "can't believe anyone leaked this… poor guy," while another suggested, "I'd be sacking this bunch of jokers. You know this is just the tip of the iceberg." Partner's 4,000 Hours Help Sullivan & Cromwell LLP Hit $200 Million Mark: Sullivan & Cromwell’s fees for the ongoing bankruptcy of cryptocurrency exchange FTX have reached $200 million, largely thanks to the efforts of a single partner. Litigation partner Brian Glueckstein has averaged 11 hours a day, five days a week, for 18 months, billing more than 4,000 hours at a rate of $2,375 per hour, amounting to $9.5 million. Sullivan & Cromwell lawyers have collectively billed over 168,000 hours on the matter so far, reports Reuters. CC: Non-Billable

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Join our Foley team next week at Startup Boston Week as we hear from industry experts – including our own Paige Moscow and Alicia Dorner – on topics that will drive startups towards a journey to success. Learn more: https://lnkd.in/ewTyUnmF #SBW2024 #Boston #Entrepreneurs

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Join our Foley team next week at Startup Boston Week as we hear from industry experts – including our own Paige Moscow and Alicia Dorner – on topics that will drive startups towards a journey to success. Learn more: https://lnkd.in/ewTyUnmF #SBW2024 #Boston #Entrepreneurs

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Should be an interesting event for growth stage climate companies thinking about using debt.

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In asset acquisitions, source code diligence is crucial for avoiding hidden risks and protecting long-term value. In our latest article, Robert Sweeney and I discuss key considerations for evaluating this type of intellectual property and the potential liabilities during the acquisition process. #techacquisitions #techindustry Mintz Intellectual Property

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Looking forward to sharing regulatory insights on this important topic!

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Have you heard about the recent legal case involving a former executive from a New Jersey company? It's quite a story! So, Andrew Blum, who was serving as the VP of Product Development at a New Jersey-based oil products and proprietary flavors company, admitted to stealing trade secrets. He pleaded guilty in Newark federal court on November 12, 2024. Talk about drama! From 2013 to 2018, Blum was in charge of product development. However, in December 2018, the company's IT team discovered some pretty alarming emails. It turns out another employee had used their personal email account to send Blum 82 files containing proprietary and trade secret info. And these weren't just any files; they included the secret formulas for almost everything his department worked on. Crazy, right? But it doesn't end there. Blum and this other employee even accessed sensitive formulas they were supposed to have no access to. We're talking about formulas for a very recognizable and popular soft drink. They were planning to take all this information to competitor companies. It's like something straight out of a corporate espionage thriller. The FBI later found other trade secret information at Blum's residence and in his cloud storage. He even had handwritten notes about products made for a major soda company in Asia. Blum's actions have serious consequences. The charges he pleaded guilty to – conspiracy to possess and possessing stolen trade secrets – each have a maximum penalty of 10 years in prison and a fine of up to $250,000 or twice the gained profit or loss caused by the offense. His sentencing is set for March 20, 2025. This case underscores the importance of a company's intellectual properties. Stealing those trade secrets is considered a severe crime. The U.S. Attorney Philip R. Sellinger emphasized the value of intellectual property and stated that such crimes would be prosecuted vigorously. Pretty heavy stuff, huh? I thought you'd find this both fascinating and a bit nerve-wracking. It's a reminder of just how critical safeguarding proprietary information is for any company.

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I really enjoyed developing this piece for the Philadelphia Business Journal on AI Best Practices. AI is not Y2K. It’s transformative like electricity. Every company must assess how it’s operations can be improved by AI, how they can drive more revenue with AI, and how they can mitigate the risks with using AI.

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Thanks to Law360 for publishing our article on the new privacy litigation trend in California -- Song-Beverly Credit Card Act claims based on online transactions. And thanks to Desirée Hunter-Reay for helping write it. Hopefully, we can nip this trend in the bud before it turns into another CIPA Pen-Trap situation. https://lnkd.in/gvgyrFMz

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🎙️ Next Episode of Cyber Sip: Exploring Generative AI and Governance! Join Jessica L. Copeland, Esq., CIPP/US and me as we dive into the world of generative AI 🔍 What You'll Learn: 👉 What is #GenerativeAI? Understand how large language models are transforming natural language responses. 👉 Everyday AI: Discover how AI powers personalized recommendations on Amazon and Netflix. 👉 Pros and Cons: Learn about the efficiency and time-saving benefits, alongside risks like accuracy, bias, and confidentiality concerns. 🛡️ #AIGovernance Insights: ➡ Choosing the Right Tools: Find out how to select AI tools with robust safeguards. ➡ Key #decisionmakers: Learn the importance of a clear governance structure. ➡ #SecurityMeasures: Ensure data integrity and confidentiality. ➡ #AIPolicies and #Training: Implement ethical use policies and staff training. Join Jessica and me as we discuss developing a robust AI governance plan! #CyberSip #GenerativeAI #AIGovernance #Podcast

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In today's complex regulatory landscape, ensuring your firm's compliance with SRA standards is more crucial than ever. As the Founder and CEO of Compliance Consultant, I'm reaching out to offer you a game-changing opportunity to fortify your practice against regulatory risks.  Why Choose Compliance Consultant? With decades of experience and well versed in SRA firm governance review, our team brings unmatched expertise to the table. We understand the unique challenges solicitors face and have tailored our services to meet your specific needs. Arrange a convenient meeting at https://bit.ly/CCDiscovr. Our Comprehensive Approach We offer three levels of compliance checks, each designed to provide you with peace of mind: 1. AML Focused Check: A laser-focused review of your anti-money laundering controls. 2. Mid-Range Compliance Review: A broader evaluation covering key policies and procedures. 3. Comprehensive Compliance Audit: Our flagship service, leaving no stone unturned in your compliance journey.  The Compliance Consultant Advantage - Expertise: Our team is well-versed in SRA regulations and industry best practices. - Tailored Solutions: We customise our approach to suit your firm's size and risk profile. - Actionable Insights: Receive practical recommendations to enhance your compliance strategy. Want to hear more? Our podcasts cover similar topics and offer valuable insights into best practices: https://bit.ly/CDDeepDive.  Why Act Now? In an era of increasing regulatory scrutiny, proactive compliance management is your best defense. Our comprehensive review covers all aspects of SRA compliance, from AML controls to equality and diversity practices. Don't leave your firm's reputation to chance. Let us help you build a robust compliance framework that not only meets but exceeds SRA standards. Ready to take the next step? Book a no-obligation 'Discovery Call' with us today using https://bit.ly/CCDiscovr. Let's work together to ensure your firm not only complies but thrives in today's legal landscape. Yours sincerely, Lee Werrell Chartered FCSI Founder and CEO, Compliance Consultant P.S. Remember, compliance isn't just about ticking boxes—it's about safeguarding your firm's future. Let's start that journey together.

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Read the full Law360 article here: https://bit.ly/3Kri9Dm

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In this article, my Foley colleagues, discuss the dangers of "AI Washing" and provide best practices that companies should consider to ensure compliance with the SEC’s protocols. Click below to read more. #ArtificialIntelligence

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