John Yates

The Strategic CLO Podcast - July 23, 2024 - AI and the Law: Navigating t… In this cutting-edge episode of The Strategic CLO Podcast, we dive deep into the intersection of artificial intelligence and the law. As AI reshapes the business landscape, growth-stage companies face a new frontier of legal challenges and opportunities. Host Noel Bagwell explores the rapidly evolving world of AI adoption and its legal implications. You'll discover: • Eye-opening statistics on AI's current and projected impact on businesses • Critical legal considerations for AI integration, including data privacy, intellectual property, and liability • A real-world case study of a growth-stage company successfully navigating AI-related legal hurdles • Practical strategies for developing a robust AI governance framework • The vital role of a Fractional CLO in turning AI challenges into competitive advantages Whether you're a CEO, legal professional, or techno…

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The California Attorney General has reached a significant settlement with the developer and publisher of a mobile game over children's privacy violations. Perkins Coie LLP partner Janis Kestenbaum discusses how the case underscores the importance of complying with COPPA and CCPA, and what businesses can do to enhance their privacy practices. #PrivacyLaw #ChildrensPrivacy #CCPA #COPPA

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Thanks Bloomberg Law for including my thoughts in this piece. https://lnkd.in/g3c7_3tz

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Interesting. New term of art--"AI washing." "The U.S. Securities and Exchange Commission’s crusade against “AI washing” has led to charges against the founder and former CEO of a now-defunct recruiting firm that claimed to use artificial intelligence to match businesses with diverse job candidates. The agency says Ilit Raz pitched Joonko as “the only automated sourcing platform focused solely on underrepresented candidates,” a tactic the agency says helped draw in millions of dollars from customers and financial backers. The eight-year-old firm—which wound down last year and recently filed for bankruptcy—claimed it could help companies meet their diversity, equity and inclusion hiring goals by using AI to automatically match them with a pool of “silver medalist” candidates from underrepresented groups who previously had reached the final stages of the hiring process but not received an offer. The SEC claims Raz defrauded at least 27 investors—a group that includes individuals, private equity firms and venture capital firms—out of $21 million by making false claims about Joonko’s technological capabilities, the size of its customer base and the amount of its revenue. ... “Joonko did not actually use these processes. Raz oversaw the buildout of the Joonko platform and therefore knew, or recklessly disregarded, that the platform did not work as she described it to investors. For example, Joonko did not have the aforementioned capabilities to connect customers with diverse candidates, and its technology was not as advanced as Raz claimed.” In a statement Tuesday, SEC enforcement division director Gurbir Grewal said the SEC believes Raz “engaged in an old school fraud using new school buzzwords like ‘artificial intelligence’ and ‘automation,’” and that investors should be wary of such bold claims. “As more and more people seek out AI-related investment opportunities, we will continue to police the markets against AI washing and the type of misconduct alleged in today’s complaint,” Grewal said. “But at the same time, it is critical for investors to beware of companies exploiting the fanfare around artificial intelligence to raise funds.” According to the SEC, her scheme came to light in June 2023 when Raz’s refusal to provide investors with company documents spurred an investigation by Joonko’s board of directors. She resigned as CEO, and the company wound down its operations. Joonko filed for bankruptcy in May amid demands for repayment from investors. ... Legal observers expect AI washing scams to mushroom as awareness of the technology grows, tempting businesspeople to make unsubstantiated marketing claims." ...

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My new blog post on how the size of a business is determined for DBE and ACDBE purposes: https://lnkd.in/edWM8d4d

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In this blog post my Foley colleagues, Erik Swanholt and Rachel Pauley, discuss five key topics apparel companies should focus on to remain compliant with the CPSC. Click below to read more! #FashionIndustry #ConsumerProducts

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Dual Track Exits - #IPO and #M&A | Our webinar - "Playing the Dual Track" - is Tomorrow at 12:00 CT! 🚅 🚅 Michael J. Blankenship, Matt Stevens, Keerthika Melissa Subramanian and I will discuss this #Exit strategy to #maximize #value and #certainty. **Register Here: https://lnkd.in/g-Mst9yD Winston’s capital markets and M&A teams have a wealth of experience in exit transactions.  Our capital markets team is currently working on more than 15 traditional IPOs, representing both issuers and underwriters.  And our M&A practice has more than 20 active M&A transactions representing both private equity funds and their portfolio companies in sales transactions. In the webinar, we will dive into: * pros and cons, * market trends, * process strategies, * how to hire the right advisors, * and more. #CapitalMarkets #mergers #publiccompanies #privateequity #portfoliocompanies Visit the Winston & Strawn LLP Public Company Gateway here: https://lnkd.in/gr_CYkJ4 The Public Company Gateway is an essential resource for action-oriented and innovative public company boards of directors and leaders. The Gateway is a one-stop portal for the latest legal and regulatory developments as well as key checklists, guides, and other pragmatic desktop tools. Eva Davis Samuel D. Machado Javeriya Dunn Jaime Greenstreet Christos Haralambidis Garrison Stribling

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We answer a lot of questions about whether an LLC or a C-Corp is the optimal entity type for your startup. There are pros and cons to both, which Perkins Coie's Patrick Anding and Andy Shawber explore in this StartupPercolator post, along with a handy table comparing the two entity types. #Startups #StartupTips #LLCs #CCorp #StartupPercolator

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According to survey data, seven firms ended 2023 within 10% of the revenue figure for this year’s No. 200 firm—and thus arguably within striking distance of the #AmLaw200. Meanwhile, there were seven contender firms (with some overlap) that bested the Second Hundred’s collective year-over-year revenue growth rate of 5.9%. https://loom.ly/xz1tIeE

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McKool Smith Principal Nicholas M. was quoted in Law360's article, "USPTO Reveals Scaled-Back Plan For New Patent Board Rules." Learn more at the link below. #USPTO #McKoolSmith #Law360 #PatentLitigation

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In Forbes recent article, "Here’s Why Other Celebrities Could Face Problems With AI Voice Cloning—Not Just Scarlett Johansson,” my Foley colleagues, Jeffrey Greene and Arian Jabbary, share their insight on the OpenAI legal battle. Click below to read more. #ArtificialIntelligence #AI #Copyright #IntellectualProperty

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Recognizing a non-US arbitral award or judgment in US courts gives award/judgment creditors lots of execution and discovery tools if the losing counterparties are not paying up. Execution tools include turnover; garnishment; charging orders; installment payment orders; and receivership. Discovery tools include depositions; interrogatories; and production of documents from third parties in possession of relevant information. Consider US options as part of worldwide enforcement/execution strategy on unpaid awards/judgments. #enforcement #execution #discovery #UScourts #arbitrationawards #foreignjudgments

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My Foley colleagues discuss the latest report by the USPTO and FDA that examines the time from approval of a New Drug Application to the first generic launch for 25 drug products. Click below to read more. #Pharmaceuticals #FDA #Patents

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Fisker files for Chapter 11 bankruptcy protection, Hyundai plans to begin production on electric SUVs, GM lowers its 2024 EV production target, and more in this week's Foley Automotive Update. Click below to read more! #Automotive #IndustryNews #Manufacturing

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Law360 highlights Lowenstein Sandler’s launch of the Lowenstein AI Chatbot, a pioneering chatbot enhancing the firm’s website user experience. Intellectual Property Chair Mark Kesslen and Chief Marketing Officer Kevin Iredell emphasize Lowenstein’s proactive use of AI in legal practice, while Chief Operating Officer Michael Caplan makes note of the firm’s quick adoption and deep understanding of AI, demonstrating its commitment to leading through innovation. Read the full article: https://bit.ly/4aJCwYk #chatbot #lawfirms #legalinnovation #generativeai #artificalintelligence #techinnovation

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Get ahead in your NDA game and swipe to discover the ins and outs of NDAs, including restrictions. Thank you, Stephanie Sader, Jonathan Greenblatt of LinkSquares, and Michael Bloom of Praktio, for speaking with our IHC community during our webinar, Navigating NDAs for In-House Counsel. #NDA #LawyersOfLinkedIn #Linksquares #Praktio #InHouseCounsel 

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A must read for anyone in the #privateequity #buyouts space - new Federal Trade Commission rule on non-competes and how it affects #dealmaking: "The Federal Trade Commission (FTC)’s new rule to ban most post-employment non-compete agreements could significantly impact M&A and private equity transactions. Although the rule preserves non-competes under the “sale of business” exemption, assuming it withstands legal challenges, the rule will require buyers and private equity sponsors to rethink many of their asset protection strategies involving the use of non-competes. Potential strategies include ensuring non-competes entered into under the “sale of business” exemption are reasonable and tailored, entering into non-compete agreements with senior executives before the rule becomes effective, and strengthening policies related to the protection of confidential and trade secret information, among others." Thanks to our Mintz team led by Benjamin Ferrucci, Brendan Lowd, Nikki Rivers and Zachary Liebnick for tracking these developments and sharing this guidance. #mergersandacquisitions #manda

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More than 150 partners added in 3.5 months of operation. Not a bad start for Pierson Ferdinand LLP, if you ask me…. And you should ask me, because we’re growing. I’ve said it so often that it’s become a bit of a mantra: great lawyers, even better people. And that stuff matters. Culture matters. Balance matters. Camaraderie and a sense of shared enterprise matter. It informs and infuses everything we do, and it frees us to serve our clients in the manner they deserve. #hiring

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