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Portrait ofMarkus Kaulartz

Dr. Markus Kaulartz

Partner
Rechtsanwalt | Co-Head of the CMS Crypto, Digital Assets and FinTech International Focus Group

CMS Hasche Sigle
Nymphenburger Straße 12
80335 Munich
Germany
Languages German, English, French

Markus Kaulartz specializes in all topics related to crypto and artificial intelligence (AI), as well as IT law in general. The focus of his work is on contract negotiations, compliant AI applications (e.g., privacy compliant model trainings), the structure of token-based business models, Decentralized Autonomous Organizations (DAOs), Decentralized Finance (DeFi), crypto exchanges (including DEXes), the metaverse and legal audits of smart contracts. Besides, he focuses on challenges arising from the increasing digitalization (FinTech, machine learning, generative AI, IoT, Smart Contracts, SaaS, etc.). He has gained a lot of experience in advising on legal issues regarding future technologies and new business models. As a former software engineer and now lawyer, Markus has particular tech expertise and insights that contribute to his legal advisory practice. His input is often sought where issues emerge at the interface of technology and law. Due to his technical background and experience, he knows the typical legal challenges tech companies face, is able to speak their language and has profound sector knowledge. Clients value his pragmatic and efficient, but also very transparent approach, which is on high demand when companies create innovations. Some of the start-ups he works with are part of the CMS equIP program.

Markus is editor of the legal handbook "Smart Contracts" (2019, 26 authors) and the legal handbook "Artificial Intelligence und Machine Learning" (2020, 49 authors), both published by Verlag C.H. Beck.

Markus joined CMS in 2014 and has been a partner since 2022.

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Recommended for Fintech & Blockchain

Who's Who Legal 2023

Next Generation Partner for FinTech

The Legal 500 EMEA, 2023

"Markus Kaulartz is ‘highly skilled in the blockchain and IT space’ and provides clients with ‘creative and legal solutions on how to support security token offerings’."

Who's Who Legal 2021 – Fintech & Blockchain

Memberships & Roles

  • German Association of Law and Informatics (DGRI)
  • International Technology Law Association (ITechLaw); member of the Artificial Intelligence Committee
  • Bitkom working groups on Blockchain and Artificial Intelligence
  • Federal Blockchain Association (Blockchain Bundesverband)
  • Federal Artificial Intelligence Association (KI-Bundesverband)
  • European Blockchain Association (co-founder)
  • the Blockchain Arbitration Forum (co-founder and chairman)
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Publications

  • "Rechtliche Aspekte sogenannter Non-Fungible Tokens (NFTs)", Betriebs-Berater Compliance (Compliance Berater) 2021, 298, Mitautor Dr. Alexander Schmid
  • Rechtshandbuch Artificial Intelligence, C.H. Beck, 1. Auflage 2020
  • Rechtshandbuch Smart Contracts, C.H. Beck, 1. Auflage 2019
  • "Die Blockchain in der öffentlichen Verwaltung" in: Seckelmann (Hrsg.), Digitalisierte Verwaltungs, Vernetztes E-Government, 2018
  • "Die Tokenisierung des Rechts", Neue Juristische Wochenschrift (NJW) 2018, 3278, co-author Robin Matzke
  • "Smart Contracts for Modern Lawyers" in: Hartung/Bues/Halbleib (Hrsg.), Legal Tech, 2018, co-author Tom Braegelman
  • "Blockchain und Smart Contracts" in: Briner/Funk, DGRI Jahrbuch 2017, Bd. 27.
  • "Blockchain und Datenschutz", Bitkom Faktenpapier, 2017
  • "Smart Dispute Resolution – Automatisierte Konfliktlösung", Tagungsband DSRI Herbstakademie 2017
  • "Versicherung 4.0 – Nutzung der Blockchain-Technologie und von Smart Contracts im Versicherungsbereich", ERA Forum, 2017, Mitautor Dr. Frank Püttgen
  • "Regulation of token sales / initial coin offerings (ICO) in Germany", Law-Now, 30.08.2017
  • "Herausforderungen bei der Gestaltung von Smart Contracts", Zeitschrift zum Innovations- und Technikrecht (InTeR) 2016, 201-206
  • "Smart Contracts: Quellcode als Vertragstext", c't 2016, S. 138-141
  • "Rechtliche Grenzen bei der Gestaltung von Smart Contracts", Tagungsband DSRI Herbstakademie 2016
  • "Smart Contracts – Anwendungen der Blockchain-Technologie", Computer und Recht (CR) 2016, 618-624, Mitautor Dr. Jörn Heckmann
  • "Die Blockchain-Technologie", Computer und Recht (CR) 2016, 474-480
  • "Von der Blockchain zum Smart Contract", Frankfurter Allgemeine Zeitung (FAZ), 16.03.2016
  • "Auswirkungen des IT-Sicherheitsgesetzes auf Banken und Versicherer", Zeitschrift für das gesamte Kreditwesen (ZfgK), 2016, 167-168, Mitautor Dr. Reemt Matthiesen
  • "Haftung 4.0", Zeitschrift zum Innovations- und Technikrecht (InTeR), 2016, 22-27, Mitautorin Susanne Horner
  • "Haftung 4.0 – Verschiebung des Sorgfaltsmaßstabs bei Herstellung und Nutzung autonomer Systeme", Computer und Recht (CR) 2016, 7-14, Mitautorin Susanne Horner
  • "Cloud Computing und Vertragsrecht: Eine rechtliche Untersuchung unter besonderer Berücksichtigung von PaaS-Clouds", Herbert Utz Verlag, 2015
  • "Rechtliche Herausforderungen durch Industrie 4.0: Brauchen wir ein neues Haftungsrecht? – Deliktische und vertragliche Haftung am Beispiel Smart Factory", Tagungsband DSRI Herbstakademie 2015, co-author Susanne Horner
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Lectures list

  • "Regulatory Framework of Blockchains in Energy Trading", Mandantenveranstaltung, Prag, 02.12.2019
  • "Federated Machine Learning and Privacy" (Artificial Intelligence/Künstliche Intelligenz), Veranstaltung der Versicherungswirtschaft, Köln, 14.11.2019
  • "Smart Contracts in der Versicherungsindustrie", Marsh Versichererforum, Darmstadt, 07.11.2019
  • "How to advise Security Token Offerings (STOs)", iTechLaw, Dublin, 01.11.2019
  • "Machine Learning with Personal Data" (Artificial Intelligence/Künstliche Intelligenz), Digital.Shift, München, 29.09.2019
  • Vorlesung zum Blockchain-Recht, TU München, 20.09.2019
  • "Federated Learning and Privacy" (Artificial Intelligence/Künstliche Intelligenz), Bitkom Privacy Conference, Berlin, 17.09.2019
  • "Regulatorischer Rahmen bei Security Token Offerings (STOs)", München, 10.07.2019
  • Vorlesung zum Blockchain-Recht, Universität Freiburg, 04.07.202019
  • "The State of Security Token Offerings (STO)", Blockchain Munich Meetup, München, 21.05.2019
  • "Haftungsfragen bei Künstlicher Intelligenz am Beispiel von Chatbots", Bitkom Forum Recht, Berlin, 16.05.2019
  • "Tokenisierung von Immobilien / Tokenization of Real Estate Assets", Real Estate Academy, Stuttgart, 13.05.2019
  • "Gestaltung von Verträgen für den Betrieb von Blockchains und als Grundlage für Smart Contracts", Sitzung des Fachausschusses Vertragsrecht der DGRI, München, 10.05.2019
  • "Smart Contracts", Denkfabrik "Legal Tech", Bayerisches Justizministerium, München, 05.04.2019
  • "Smart Contracts in der Versicherungsindustrie", Marsh Versichererforum, Wiesbaden, 27.03.2019
  • Panel "Regulatorische Anforderungen an Blockchains", Münchener Kreis, München, 27.03.2019
  • "Smart Contracts Dispute Resolution", Ringvorlesung an der Universität Passau, 10.12.2018
  • "Tokens and the Law, CCConf, Berlin, 29.11.2018
  • "Blockchain und Smart Contracts", IHK München, 07.11.2018
  • "ICOs in der Medienbranche", Münchner Medientage, 24.10.2018
  • "Smart Contract Dispute Resolution, Universität Freiburg, 06.07.2018
  • "Panel on Regulatory Laws", Blockchain Summit, Frankfurt, 25.06.2018
  • "Blockchains, Smart Contracts und Schiedsgerichtsbarkeit", Schloss Elmau, 20.06.2018
  • "ICO vs. VC vc. IPO", München, 12.04.2018
  • "Rechtliche Aspekte von Blockchains", Bitkom Forum Recht, Berlin, 10.04.2018
  • "Blockchain Framework Agreements", London, 14.03.2018, London
  • "Smart Contracts und Schiedsgerichtsbarkeit", 06.03.2018, München
  • "Blockchain and Smart Contracts", München, 27.02.2018
  • "Framework Contracts & Smart Contracts in Energy Trading via Blockchain", E-World, Essen, 07.02.2018
  • "Contract law aspects of blockchain technology", E-World, Essen, 06.02.2018
  • "Smart Contract Dispute Resolution", Blockchain-Konferenz, Humboldt-Universität zu Berlin, 26.01.2018
  • "Smart Contract Arbitration", DGRI, Köln, 09.11.2017
  • "Blockchain and GDPR – How to protect personal data in a Blockchain", Rom, 30.11.2017
  • "Challenges in drafting blockchain framework agreements", Amsterdam, 05.10.2017
  • "ICOs / Token Sales from a legal perspective", Paris, 23.09.2017
  • "Aktuelle Anwendungsfelder der Blockchain-Technologie und ihre rechtliche Bewertung", Paris, 21.09.2017
  • "How to run a legally compliant ICO / Token Sale", BITKOM, Frankfurt, 13.09.2017
  • "Legal Qualification of ICOs", Etherum Meetup, München, 25.07.2017
  • "Smart Contracts – eine rechtliche Einführung", Drei-Länder-Treffen der DGRI, Innsbruck, 30.06.2017
  • "Blockchain and Smart Contracts – implications on framework agreements", Brüssel, 29.06.2017
  • "Digitale Transformation des Vertrags- und Zivilprozessrechts – Verträge zwischen Maschinen und die Haftungsfrage", 68. Deutscher Anwaltstag, Essen, 25.05.201
  • "Blockchain und Smart Contracts – Eine rechtliche Beurteilung", Kölner Tage IT-Recht, 31.03.2017
  • "Smart Contracts – Technische Hintergründe und rechtliche Einordnung", TecTalk Legal, München, März 2017
  • "Smart Contracts – Is Code Law?", Ethereum und Blockchain Meetup, Stuttgart, 16.02.2017
  • "Smart Contracts – Eine rechtliche Einordnung", 12. OSE Symposium, München, 27.01.2017
  • "Smart Contracts – Is Code Law?", Ethereum und Blockchain Meetup, Bayerisches Staatsministerium für Wirtschaft und Medien, Energie und Technologie, München, 24.01.2017
  • "Aus der Not eine Tugend machen? Aktuelle gesetzliche Rahmenbedingungen für digitale Mobilitätskonzepte", Bitkom Arbeitskreis, Berlin, Dezember 2016
  • "Blockchain aus rechtlicher Sicht, insbes. Smart Contracts", Symposium an der Universität Speyer zum Thema "Anwendung der Blockchain-Technologie auf die öffentliche Verwaltung", Speyer, November 2016
  • "Der Hype um die Blockchain", Berlin, Oktober 2016
  • "Blockchain-gestützte Smart Contracts", Vortrag im Rahmen der DSRI Herbstakademie, Hamburg, 17.09.2016
  • "Blockchains und Smart Contracts – Technik und Potentiale im Finanzsektor", Bitkom Arbeitskreis, April 2016
  • "Data protection laws in practice", lecture at the Ludwig Maximilian University of Munich, January 2016
  • "IT Security Act", Mallorca, September 2015
  • "Liability 4.0", Mallorca, September 2015
  • "Rechtliche Herausforderungen durch Industrie 4.0: Brauchen wir ein neues Haftungsrecht? – Deliktische und vertragliche Haftung am Beispiel Smart Factory", Vortrag im Rahmen der Herbstakademie der DSRI, Göttingen, 10.09.2015
  • "General Data Protection Regulation – Walkthrough", Webinar, April 2015
  • "Digital Business and Industry 4.0 – M2M Regulatory Issues, M2M Automated Transactions", Juni 2014
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Education

  • PhD in IT law
  • Trainee lawyer, including stints at the German Embassy in Malawi and the German University of Administrative Sciences Speyer
  • Law studies in Bayreuth and Munich, including additional qualification in economics
  • Software engineer
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Feed

26/03/2024
CMS advises sellers of Cardior Pharmaceuticals on potential acquisition...
Munich – CMS advises the sellers of Cardior Pharmaceuticals in the potential acquisition of the company by Novo Nordisk. Novo Nordisk has agreed to acquire Cardior for up to 1.025 billion Euros, including an upfront payment and additional payments if certain development and commercial milestones are achieved. The agreement includes Cardior’s lead compound CDR132L, currently in phase 2 clinical development for the treatment of heart failure. The closing of the acquisition is subject to receipt of applicable regulatory approvals and other customary conditions. It is expected to happen in the second quarter of 2024.A CMS team headed by Lead Partners Stefan-Ulrich Müller, Dr Tilman Weichert and Jörg Schrade advised the sellers of Cardior Pharmaceuticals on all legal aspects of the transaction. Cardior Pharmaceuticals GmbH, based in Hannover, Germany, is a leading clinical-stage bio­phar­ma­ceut­ic­al company pioneering the discovery and development of RNA-based therapeutics designed to prevent, repair and reverse diseases of the heart. The company’s therapeutic approach uses distinctive non-coding RNAs as an innovative platform for addressing the root causes of cardiac dysfunctions. CMS Germany Stefan-Ulrich Müller, Lead Partner Dr Tilman Weichert, Lead Partner Dr Michael Wangemann, Partner Dr Kai Wallisch, Partner Dr Thomas Mühl, Principal Coun­sel Se­basti­an Hummel, Senior As­so­ci­ate Vikt­or­ia Barthel, Senior As­so­ci­ate Mar­i­elouise Emmer, Senior Associate Dr Carl-Friedrich Thoma, Senior Associate Dr Stefan Kühl, Senior Associate Dr Alexander Weinhold, Senior Associate Maria Kucher, Associate Jonas Ohmann, Associate Dr Josephine Doll, Associate Dr Christian Seeburger, Associate Sonja Schanze, Associate, all Corporate/M&A Dr Marie-Luisa Loheide, Associate, Private Clients Jörg Schrade, Lead Partner Eduard Kosavtsev, Senior Associate, both Tax Stefan Lehr, Partner, Antitrust, Competition & Trade Stefan Lüft, Partner, IP Dr Benedikt Forschner, Partner, Labor, Employment & Pensions Dr Markus Kaulartz, Partner Dr Fiona Savary, Counsel Dr Felix Glocker, Senior Associate, all TMC Dr Tilman Niedermaier, Partner Susanne Schwalb, Partner, both Dispute ResolutionPress Con­tact presse@cms-hs. com
11/03/2024
Looking ahead to the EU AI Act
Introduction The European Union is preparing for the imminent adoption of the world’s most significant legislation on Artificial Intelligence, solidifying its position as a pioneer among global legislators. This initiative aims to establish and reinforce the EU’s role as a premier hub for AI while ensuring that AI development remains focused on human-centered and trustworthy principles. To expedite the achievement of these goals, on 8 December 2023, after three days of debate, the European Parliament and the Council of the European Union finally reached a provisional agreement on the “Proposal for a Regulation laying down harmonised rules on artificial intelligence” (the so-called AI Act), which aims to ensure that AI systems placed on the European market are safe and respect the fundamental rights and values of the EU. Subsequent to this provisional agreement, technical refinement of the AI Act continued to finalise the regulation’s details and text. The final vote of the European Parliament on the AI Act will take place at 13 March 2024. Since the European Parliament's Committees on the Internal Market and Consumer Protection (IMCO) and on Civil Liberties, Justice and Home Affairs (LIBE) have endorsed overwhelmingly the proposed text, the approval of the European Parliament can be expected. After a long and complex journey that began in 2021 with the European Commission’s proposal of a draft AI Act, this new regulation is expected to be passed into law in spring 2024, once it has been approved by the European Parliament and the Council of the European Union . The AI Act aims to ensure that the marketing and use of AI systems and their outputs in the EU are consistent with fundamental rights under EU law, such as privacy, democracy, the rule of law and environmental sustainability. Adopting a dual approach, it outright prohibits AI systems deemed to pose unacceptable risks while imposing regulatory obligations on other AI systems and their outputs. The new regulation, which also aims to strike a fair balance between innovation and the protection of individuals, not only makes Europe a world leader in the regulation of this new technology, but also endeavours to create a legal framework that users of AI technologies will be able to comply with in order to make the most of this significant development opportunity. In this article we provide a first overview of the key points contained in the text of the AI Act1This article (including the relevant citations below) is based on the latest draft available on the Council’s website. The AI Act remains subject to possible further refinement, but not as regards content, and the text referred to for this article should be considered as the closest to the one that will be voted on by the EU Parliament. footnote that companies should be aware of in order to prepare for the implementing regulation.
28/02/2024
Launch of the European Legal AI "Noxtua"
AI startup Xayn and international business law firm CMS develop Europe's first sovereign Legal Large Language Model and Legal Copilot Lawyers can use Noxtua to analyze, review, and summarize legal texts  Noxtua specializes in legal texts and meets the high requirements of legal professional secrecy and data protection reg­u­la­tion­sNox­tua is a sovereign and secure European alternative to US AI tools   
14/02/2024
CMS advises automotive supplier Webasto on sale of charging business to...
Cologne – Webasto, a leading global automotive supplier headquartered in Stockdorf near Munich, has sold a majority stake in its charging solutions business. The business includes charging cables, mobile chargers and wallboxes. The German company is one of the 100 largest suppliers to the automotive sector worldwide and will remain invested in the division as a minority shareholder. It intends to focus on its core business segments going forward. In 2022, Webasto took the strategic decision to seek an investor for the charging solutions business. The buyer is private equity firm Transom Capital Group, based in Los Angeles, USA. The two companies signed a purchase agreement on 7 February 2024. Further details of the transaction were not disclosed.A CMS team headed by lead partner Klaus Jäger advised Webasto on all legal aspects of the sale. The German CMS team worked closely with CMS teams from Mexico City and Beijing, as well as US law firms Miller & Martin PLLC and Locke Lord LLP. The sales process was highly complex, partly due to the fact that prior to the sale the unit in question needed to be restructured by taking appropriate action across a number of different jurisdictions. Webasto has relied on the expertise of CMS in the past, most recently when acquiring all the shares in Luxembourg company Carlex Glass. Established in 1901, automotive supplier Webasto focuses on roof systems and on vehicle electrification in its development, manufacturing and sales operations. The product range includes openable and fixed roofs, electric high-voltage heaters and batteries and thermo management solutions. Webasto’s customers range from manufacturers of passenger cars, commercial vehicles and boats to dealers and end customers. In 2022, the group generated sales of over EUR 4 billion and employed some 16,800 people across more than 50 locations worldwide. CMS Germany Klaus Jäger, Lead Part­ner Anna-Lena Löcherbach, Counsel Philipp Knopp, Senior As­so­ci­ate Domin­ic Zimmer, Associate Nina Fink, Associate, all Corporate/M&A Dr Angela Emmert, Partner Lennard Martin Lürwer, Counsel Marcel Heinen, Senior Associate, all Labor, Employment & Pensions Dr Sebastian Cording, Partner Lars Howe, Associate Dr Markus Kaulartz, Partner Dr Reemt Matthiesen, Partner, all TMC Dr Alexandra Schluck-Amend, Partner Manuel Nann, Senior As­so­ci­ate  Fran­ziska Fuchs, Senior Associate, all Restructuring and Insolvency Lars Eckhoff, Partner Dr Philipp Rohdenburg, Counsel, both Commercial Dr Dirk Smielick, Principal Counsel, Intellectual Property Dr Christian Scherer, Partner, Real Estate & Public Barbara Bayer, Counsel, Banking, Finance & Insurance Moritz Pottek, Counsel, Antitrust, Competition & Trade Dr Arne Burmester, Principal Counsel Conrad Gräwe, Legal Coordinator Romy Rosenhahn, Legal Co­ordin­at­or Stephanie Schulz, Legal Co­ordin­at­or Steven Washington, Legal Co­ordin­at­or Tag­rid Chahrour, Senior Legal Specialist Anke Clippingdale, Senior Legal Specialist Lisa Mattmann, Senior Legal Specialist Sarah Przybylski, Senior Legal Specialist Edris Trabzadah, Senior Legal Specialist Faraz Ahmad, Legal Specialist Jule Marie Holz, Legal Specialist Sofia Schreiner, Legal Spe­cial­ist Al­ex­an­der Stadahl, Legal Specialist, all Smart Operations CMS China Dr Falk Lichtenstein, Partner, Corporate/M&A CMS Mexico Giancarlo Schievenini, Partner, Corporate/M&A MILLER & MARTIN PLLC, Attorneys at Law, Atlanta, USA Mike Marshall, Partner Joe De Lisle, Partner Locke Lord LLP, Boston, USA Jonathan Young, PartnerPress Con­tact presse@cms-hs. com   
13/02/2024
CMS advises on sale of flexis AG to Blue Yonder
Stuttgart – The shareholders of flexis AG, a flexible, innovative software technology provider specializing in production optimization and transportation planning and execution, have sold all shares to Blue Yonder, a leading supply chain solutions provider. flexis AG specializes in the development of software-based technologies aimed at optimizing supply chain management (including ordering, production, planning and execution of transports). With the acquisition, Blue Yonder expands its portfolio with a stable customer base in the automotive and OEM sector and its offering to companies with highly configurable products and an extensive network of suppliers. The combined technologies of the two companies are intended to improve production planning, order fulfilment and supply chain performance for customers and thus offer added value. The parties involved have agreed not to disclose further details of the transaction.A CMS team headed by partner Dr Heiko Wiechers and Dr Andreas Lohbeck advised the shareholders of flexis AG on all legal aspects of this transaction that underlines again the team's strength in cross-border deals in the technology sector. flexis AG, headquartered in Stuttgart, specializes in flexible, innovative software for optimizing supply chain planning and execution. With seven locations worldwide, flexis AG can look back on more than 25 years of company history. Blue Yonder, based in Scottsdale, Arizona, U.S., is global market leader in digital supply chain trans­form­a­tions.  CMS Germany Dr Heiko Wiechers, Partner, Co-Lead Dr Andreas Lohbeck, Principal Counsel, Co-Lead Julia Fünfgeld, Senior Associate, all Corporate/M&A Dr Markus Kaulartz, Partner, TMC Dr Martin Mohr, Partner, Tax law  Birgit Wagner, Legal Manager Lisa Mattmann, Senior Legal Specialist, both Smart OperationsPress Con­tact presse@cms-hs. com
07/02/2024
CMS Expert Guide to Crypto Regulation in Germany
Disclaimer: This chapter was last updated on 5 September 2023 and does not reflect any subsequent developments. The information provided is intended for general informational purposes and should not be...
Comparable
22/12/2023
AI Act: Council and Parliament reach political deal
After lengthy negotiations, a political deal has been reached on the AI Act. This blog provides an overview of the current situation.There has been a gap of over two years between the world's first legal...
17/11/2023
CMS advises Finch Capital on acquisition of the Open Banking FinTechs Qwist...
Munich - The Warsaw-based investment company Crastorehill, which is majority-owned by Finch Capital, has acquired the Berlin-based open banking FinTech Qwist (previously finleap connect) and the open...
03/11/2023
Spin-off: CMS advises current Cowen Europe partners on acquisition of Continental...
Leipzig – The current partners of the Cowen Europe Group are taking over the Continental European investment banking business of TD Cowen, a division of TD Securities. With 12 partners and 50 employees...
11/10/2023
CMS advises IT infrastructure manager Jiliti on acquisition of IT specialist...
Munich – Jiliti, a portfolio company of the French private equity fund Chequers Capital, has acquired StorTrec AG, a major player in IT infrastructures present in ten countries and headquartered in...
09/10/2023
CMS advises pure-systems shareholders on sale to US company PTC Inc.
Leipzig – Boston-based international US technology company PTC Inc. has acquired pure-systems GmbH, a leading provider of product and software variant management solutions.A CMS team headed by lead...
03/08/2023
AI Act - Transparency obligations, rights for affected persons, AI Office...
Whether the AI Act will be adopted in its current version, which now also provides for explicit rights of affected persons, will become clear at the end of the year.  The scope of the draft Artificial...