Recently, thirteen relevant Chinese government agencies (e.g. Cyberspace Administration of China, National Development and Reform Commission of China, China Securities Regulatory Commission, etc.) jointly released amended Cybersecurity Review Measures (the “New Measures”) to amend and supersede the prior version of such measures issued on April 13, 2020. The New Measures will become effective on February 15, 2022.
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The National Development and Reform Commission of China and Ministry of Commerce of China jointly released, on December 27, 2021, the “Special Administrative Measures for Foreign Investment Access (Negative List)” (2021 Version) (the “National List”) and the “Special Administrative Measures for Foreign Investment Access in the Pilot Free Trade Zone (Negative List)” (2021 Version)(the “FTZ List”). These negative lists have become effective on January 1, 2022 and on the same day, the 2020 version of these negative lists were repealed. These negative lists set forth categories of industries and businesses in which China has imposed restrictions (e.g., cap on shareholding percentage) or prohibitions on foreign investment or ownership. For example, the National List states that healthcare institutions shall not be wholly owned by foreign investors.
Continue Reading China Issued 2021 Version of Negative List for Foreign Investment
1.介绍
2022 年 1 月 6 日，美国专利商标局 (USPTO) 宣布了一项允许对专利主体资格的审查作延迟回复的试点项目（Deferred Subject Matter Eligibility Response Pilot Program, “DSMER” 项目）。我们在此对该项目做一个简要的介绍。
Continue Reading 美国专利商标局专利主体资格延迟回复的试点项目
On December 24, 2021, China Securities Regulatory Commission (“CSRC”) issued draft rules and measures on the direct and indirect offshore listings of onshore companies for public comments. The deadline for submitting public comments is January 23, 2022.
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On December 17, 2021, the Stock Exchange of Hong Kong Limited (the Exchange) announced new listing regime for special purpose acquisition companies (SPAC). These new rules will take effect on January 1, 2022. This regulatory update reflects the Exchange’s commitment to remain an attractive, competitive and diversified capital-raising market in the region.
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On October 29, 2021, the Cyberspace Administration of China (“CAC”) published the Security Assessment Measures of Data Cross-border Transfer (Draft for Comments) (the “New Draft Measures”) for public comments.
Continue Reading Overview on China’s New Draft Measures for Data Cross-border Transfer
When Chinese investors are considering US targets, it is important to keep in mind the requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”). For deals meeting certain thresholds, the HSR Act requires the parties to submit HSR filings to FTC and DOJ, pay a filing fee, and wait 30 days before closing. The purpose of this is to permit FTC and DOJ to investigate the potential antitrust and competition issues before the transaction closes. Failure to make a filing and/or observe the 30-day waiting period can have severe consequences. Currently, the maximum civil penalty for noncompliance is $43,792 per day.
Continue Reading HSR Considerations For Chinese Investors In U.S. Companies 投资美国企业的中国投资者在HSR申报中需要注意的问题
On August 20, 2021, the Standing Committee of the National People’s Congress adopted the Personal Information Protection Law of the People’s Republic of China (the “Personal Information Protection Law”). The Personal Information Protection Law will become effective on November 1, 2021, and will then, together with the Cybersecurity Law of the People’s Republic of China (the “Cybersecurity Law”) and the Data Security Law of the People’s Republic of China (which will become effective on September 1, 2021, the “Data Security Law”), form the foundation of the data security legal regime of China.
Continue Reading Highlights of China’s Recently Adopted Personal Information Protection Law
The travel bans imposed by the U.S. Government during the COVID-19 national pandemic created enormous logistical challenges for anyone seeking to fly to the U.S. from a country on the travel ban list. Even today, there is still a great deal of confusion regarding who is subject to the travel ban, what are the exceptions, and how to go about applying for a National Interest Exception (NIE) waiver. The checklist below is intended to help simplify an albeit complicated process. Of course, most U.S. Consulates are still operating at limited capacities so significant delays for waivers and visa stamping is still the norm.
Blockchain patent applications may be divided into two types: underlying technologies of blockchain, such as consensus methods, security, etc., and applications of blockchain in, e.g., fintech, legal, and other industries. In patent examination, the first type, because it recites underlying technology improvement, rarely elicits subject matter rejections. The second type, applications of blockchain, are often found to be directed to an abstract idea. This article analyzes a recent Patent Trial and Appeal Board (PTAB) decision in a blockchain patent application and explores drafting and prosecution strategies to anticipate subject matter scrutiny.
Continue Reading Blockchain Patentability Through The Lens Of A Recent PTAB Decision