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.
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.
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
Year 2020 definitely is a milestone year for China in building up and strengthening its regulatory legislation in the field of international trade. Following the Regulations on Unreliable Entity List (“UEL”), the Export Control Law came out on October 17 and will come into effect on December 1, 2020. Obviously, this Export Control Law of the PRC (“Export Control Law”) is one of the most important bricks to China’s regulatory Great Wall in the ongoing trade war to protect its key national security and interests.
Here is our quick bird’s-eye view of this new Export Control Law and some preliminary thoughts on its possible impact to the future cross-border transactions and multinationals’ China operations. Continue Reading
The streaming landscape has experienced its second major shakeup this year with Huya’s merger with DouYu on October 12, 2020. Huya and DouYu are China’s largest streaming platforms, averaging 169 million and 165 million monthly users respectively, and will combined be worth around $11 Billion USD. The merger positions the new entity as the largest esports platform in China, and makes it the de facto destination for esports eyeballs in the region. Continue Reading
On September 19, 2020, China took a new strategic position in its ongoing trade confrontation with the United States. The Ministry of Commerce of the PRC (“MOFCOM”) issued Regulations on Unreliable Entity List (“UEL”) and drew wide public attention to the beginning of the PRC government’s retaliation against the Trump Administration’s recent restrictions on Chinese entities including Huawei, TikTok and WeChat. It is notable that MOFCOM deliberated with more than a year of internal discussion before implementing the UEL. Continue Reading
On Saturday, two actions put a stop, at least temporarily, to the U.S. shutdown of the popular social media apps WeChat and TikTok. Continue Reading
On June 22, 2020, the White House announced an extension and expansion of Proclamation 10014, which was originally announced on April 22, 2020 and restricted the issuance of and entry on immigrant visas. The new visa ban expands the restrictions to certain non-immigrant categories. Continue Reading
On Tuesday, May 19, the U.S. Commerce Department published a regulation (effective May 15, 2020) that prohibits sale to Huawei of a microchip made to a Huawei specification, made outside the United States with non-U.S. materials, sent from a foreign country, by a foreign person.
To quote the philosopher, hol’ up.
How is that even possible? Continue Reading