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08/11/2022
Tech­no­logy Trans­form­a­tion – Me­dia
The me­dia sec­tor is known to be highly com­pet­it­ive, with that com­pet­i­tion driv­ing in­nov­a­tion. Older me­dia busi­nesses have had to grapple with dis­rupt­ive new entrants. And those new entrants are con­stantly work­ing to de­liv­er bet­ter and more en­ga­ging con­tent and user ex­per­i­ences to main­tain their ad­vant­age. Di­git­isa­tion has changed how me­dia com­pan­ies in­ter­act with their audi­ence in ways we could not have ima­gined just a few years ago, but this comes with risk.This re­port is a deep dive in­to the data first pro­duced for the re­port Tech­no­logy Trans­form­a­tion: Man­aging Risks in a Chan­ging Land­scape. This saw over 500 cor­por­ate coun­sel and risk man­agers sur­veyed from mul­tiple in­dus­tries across the world. Here we look in de­tail at the 75 re­spond­ents from the me­dia sec­tor, and their per­spect­ives on the risks as­so­ci­ated with busi­ness-crit­ic­al tech­no­lo­gies, in­clud­ing emer­ging tech­no­lo­gies. What did we find? Me­dia is a dy­nam­ic sec­tor and can be an early ad­op­ter of many nov­el tech­no­lo­gies as com­pan­ies push for com­pet­it­ive ad­vant­ages to cre­ate and sat­is­fy cus­tom­er de­mand. As we look to the fu­ture, the sec­tor does seem un­der­prepared in some areas, which is a po­ten­tial cause for con­cern.Down­load the Tech­no­logy Trans­form­a­tion me­dia sec­tor re­port now to read aboutThe prin­cip­al drivers in the ad­op­tion of busi­ness-crit­ic­al tech­no­logy in the me­dia sec­tor­Con­fid­ence in man­aging tech-re­lated risks among seni­or me­dia ex­ec­ut­ivesFu­ture threats from new tech­no­lo­gies like AI and block­chain­Which plans and pro­cesses me­dia com­pan­ies are put­ting in place to pro­tect tech in­fra­struc­ture­Cul­tur­al bar­ri­ers to man­aging tech risks in the me­dia sec­tor­Preferred ap­proaches to dis­pute res­ol­u­tion in the me­dia sec­tor
29/09/2022
Boom & Gloom? CMS European M&A Out­look 2023
We are pleased to share with you the 2023 edi­tion of the European M&A Out­look pub­lished by CMS in as­so­ci­ation with Mer­ger­mar­ket.
28/09/2022
CMS Green Globe
Stay in­formed about the latest sus­tain­ab­il­ity claims trends and de­vel­op­ments CMS Green Globe is an in­ter­act­ive plat­form that al­lows busi­nesses and cli­ents to stay aware and duly in­formed about all the main rap­idly chan­ging trends and de­vel­op­ments re­lated to sus­tain­ab­il­ity claims across the world.Here you will find in­form­a­tion on reg­u­la­tion and de­vel­op­ments you need to know when ad­vert­ising and mar­ket­ing your busi­ness or product by us­ing sus­tain­ab­il­ity claims as well as our key ex­perts to sup­port you in nav­ig­at­ing the world of such claims.CMS Green Globe helps you to avoid gre­en­wash­ing your con­sumer in your jur­is­dic­tion as well as across the globe. Dis­cov­er CMS Green Globe Best ex­plored on desktop
11/08/2022
News in Sus­tain­ab­il­ity Claims
CMS Green Globe
28/06/2022
Tech­no­logy Trans­form­a­tion: Man­aging Risks in a Chan­ging Land­scape
Chan­ging tech, chan­ging risks
01/06/2022
CMS Next
What’s next? In a world of ever-ac­cel­er­at­ing change, stay­ing ahead of the curve and know­ing what’s next for your busi­ness or sec­tor is es­sen­tial.At CMS, we see ourselves not only as your leg­al ad­visers but also as your busi­ness part­ners. We work to­geth­er with you to not only re­solve cur­rent is­sues but to an­ti­cip­ate fu­ture chal­lenges and in­nov­ate to meet them.With our latest pub­lic­a­tion, CMS Next, our ex­perts will reg­u­larly of­fer you in­sights in­to and fresh per­spect­ives on a range of is­sues that busi­nesses have to deal with – from ESG agen­das to re­struc­tur­ing after the pan­dem­ic or fa­cing the di­git­al trans­form­a­tion. We will also share with you more about the work that we are do­ing for our cli­ents, help­ing them in­nov­ate, grow and mit­ig­ate risk.To be able to provide you with the best sup­port, we im­merse ourselves in your world to un­der­stand your leg­al needs and chal­lenges. However, it is equally im­port­ant that you know who we are and how we can work with you. So, we in­vite you to meet our ex­perts and catch a glimpse of what is hap­pen­ing in­side CMS.En­joy read­ing this pub­lic­a­tion, which we will up­date reg­u­larly with new con­tent.CMS Ex­ec­ut­ive Team
31/05/2022
GDPR En­force­ment Track­er Re­port
What a year for GDPR en­force­ment: 2021/2022 saw vari­ous land­mark cases in­clud­ing: a new re­cord fine of EUR 743 mil­lion; the total amount of all fines since May 2018 ex­ceed­ing the EUR 1 bil­lion mark in sum­mer 2021; and the total num­ber of cases passing 1,000 in early 2022. Land­mark cases were widely re­por­ted, ob­vi­ously draw­ing a lot of pub­lic at­ten­tion and in­creas­ing over­all aware­ness for data pro­tec­tion law. However, there is a GDPR en­force­ment real­ity bey­ond re­cord fines and it may be worth tak­ing a closer look: fo­cus­sing solely on severe fines could lead to fear and even re­luct­ance or ig­nor­ance on com­pli­ance is­sues.We still be­lieve that facts are bet­ter than fear.Our con­tinu­ously up­dated list of pub­licly known GDPR fines in the GDPR En­force­ment Track­er is our 24/7 rem­edy against fear: in con­trast, the an­nu­al GDPR En­force­ment Track­er Re­port (“ET Re­port”) is our deep dive ap­proach and per­mits great­er in­sight in­to the world of GDPR fines.
18/05/2022
On-site power solu­tions
A guide for large en­ergy users Across Europe there is a clear and con­sist­ent trend for large scale com­mer­cial and in­dus­tri­al users of elec­tri­city ad­opt­ing on-site power solu­tions. This is the res­ult of a range of factors, in­clud­ing:re­new­able on-site gen­er­a­tion be­ing one of the most clear-cut ways to help “green” a site’s elec­tri­city sup­ply and help the com­mer­cial/in­dus­tri­al user achieve their cli­mate change tar­gets;on-site power solu­tions hav­ing the abil­ity to provide re­si­li­ence of elec­tri­city sup­ply dur­ing times of sys­tem out­age or con­straint;avoid­ance of the net­work and policy charges typ­ic­ally as­so­ci­ated with elec­tri­city taken from the grid; an­dthe com­mer­cial op­por­tun­it­ies from lever­aging flex­ible on-site power solu­tions to re­duce con­sump­tion from the grid and/or to ex­port elec­tri­city onto the grid.However, while such op­por­tun­it­ies mean that on-site power solu­tions are of­ten an at­tract­ive op­tion, on-site pro­jects will gen­er­ally come with a com­plex ar­ray of leg­al op­tions and con­sid­er­a­tions. These range from:the fun­da­ment­al point that such pro­jects in­her­ently in­volve par­ti­cip­a­tion in a typ­ic­ally heav­ily-reg­u­lated arena (and of­ten the back­drop of a set of reg­u­la­tions rap­idly evolving to keep pace with the sec­tor), toa range of pro­ject/agree­ment struc­tures and parties (without a “cook­ie cut­ter” ap­proach) in­volved in pro­ject own­er­ship, op­er­a­tion and elec­tri­city sale and pur­chase, with sig­ni­fic­ant co-de­pend­ence between such parties, toa gov­ern­ment policy con­text that (while at face value of­ten pro-green) is of­ten in­creas­ingly con­cerned about grid and policy charges be­ing avoided through these types of pro­ject and wishes to see all mar­ket par­ti­cipants pay­ing a per­ceived fair share of such costs. In this guide we provide an over­view of these chal­lenges and op­por­tun­it­ies in Europe, with a view to as­sist­ing you in re­view­ing, up­front, the key is­sues of­ten as­so­ci­ated with on-site power solu­tions of this nature. 
24/03/2022
CMS European M&A Study 2022
The CMS Cor­por­ate/M&A Group is pleased to launch the four­teenth edi­tion of the European M&A Study
10/01/2022
Tech­no­logy: a uni­fy­ing force
Com­pan­ies of­ten talk about the scourge of the silo, the farm­ing stor­age meta­phor that has come to rep­res­ent teams or de­part­ments that op­er­ate on their own. However, with tech­no­logy trans­form­ing vir­tu­ally every in­dustry on the plan­et, col­lab­or­a­tion across sec­tors has be­come es­sen­tial. Ad­di­tion­ally, the COV­ID-19 crisis has high­lighted the cru­cial role tech­no­logy, spe­cific­ally con­nectiv­ity, plays as the back­bone of our busi­ness world across all sec­tors, and once COV­ID-19 is brought un­der con­trol or even erad­ic­ated, it will prove es­sen­tial for so­cial and eco­nom­ic prosper­ity. For­ging links in di­git­al in­fra­struc­ture pro­jects Jonath­an Dames, a part­ner at CMS in Lon­don, says that his team’s prac­tice tra­di­tion­ally centred on so­cial and eco­nom­ic in­fra­struc­ture and en­ergy fin­ance, but is in­creas­ingly shift­ing to­wards di­git­al in­fra­struc­ture pro­jects, in­clud­ing fibre net­works and data centres.He says that these kinds of pro­jects re­quire close col­lab­or­a­tion between tra­di­tion­al pro­jects and pro­ject fin­ance law­yers and their col­leagues in Tech­no­logy, Me­dia & Com­mu­nic­a­tions (TMC), “We al­ways had cros­sov­er, and en­joyed great col­lab­or­a­tion with both the In­fra­struc­ture & Pro­jects and En­ergy Sec­tor Groups, for ex­ample, but now we are work­ing with the TMC Sec­tor Group much more closely be­cause we are fa­cing reg­u­lat­ory is­sues and re­gimes that we have nev­er faced be­fore such as Code Powers, the re­quire­ments of the Com­mu­nic­a­tions Act and re­lated le­gis­la­tion.“CMS has ex­tens­ive in­fra­struc­ture, en­ergy and tele­coms ex­pert­ise and is able to bring it all to­geth­er to cre­ate the skill set re­quired to de­liv­er long-term pro­ject fin­an­cing to tech­no­logy-based in­fra­struc­ture pro­jects.”Ad­di­tion­ally, the fund­ing of di­git­al in­fra­struc­ture pro­jects, such as the 10,000km El­laLink sub­sea cable between Brazil and Por­tugal, de­mands more com­plic­ated fin­an­cing struc­tures to cov­er the re­lated risks and cre­ate the op­tim­al cap­it­al stack to get the best all-in pri­cing. This has in­volved us­ing mezzan­ine fin­ance and vendor fin­an­cing for con­struc­tion, with a view to at­tract­ing cheap­er op­er­a­tion­al peri­od fin­an­cing in the me­di­um term. A sub­sea cable, cross­ing in­ter­na­tion­al wa­ters and land­ing in mul­tiple leg­al jur­is­dic­tions, is not, un­der­stand­ably, ex­posed to the same po­ten­tial threats and per­ils as a hos­pit­al or a con­ven­tion­al power sta­tion or a wind farm on a single site. So, not all the usu­al rules, mar­ket norms, leg­al con­structs and stand­ard mit­ig­ants ne­ces­sar­ily fit for a fin­an­cing of this type of as­set. Rise of the ma­chines The CMS In­tel­lec­tu­al Prop­erty (IP) Group has un­sur­pris­ingly been at the fore­front of tech­no­lo­gic­al in­nov­a­tion, sup­port­ing cli­ents in the iden­ti­fic­a­tion, pro­tec­tion and com­mer­cial­isa­tion of their IP as­sets. Tom Scourfield, Co-Head of the group, is based in Lon­don and Warsaw, two cit­ies well-known for their tech­no­logy in­cub­a­tion. He ob­serves, “We are not only see­ing an in­crease in the use of tech­no­logy in col­lab­or­a­tion, but much more fre­quently, col­lab­or­a­tion with tech­no­logy it­self.”Ar­ti­fi­cial In­tel­li­gence (AI) is a grow­ing area of fo­cus. Pat­ent ap­plic­a­tions for AI tech­no­lo­gies have in­creased by 170,000 since 2013, ac­cord­ing to a re­cent re­port by the World In­tel­lec­tu­al Prop­erty Of­fice (WIPO). In the field of AI pat­ents, there is cur­rently a fas­cin­at­ing de­bate around the ques­tion of pat­entab­il­ity of in­ven­tions cre­ated by AI ma­chines them­selves. Ac­cord­ing to Tom Scourfield, “Bey­ond pat­ents, we are also see­ing an in­creased use of AI in de­tect­ing and mon­it­or­ing coun­ter­feits and oth­er on­line brand harms. AI is also be­ing used to sup­ple­ment and sup­port the ana­lys­is of sim­il­ar­it­ies between com­pet­ing brands, wheth­er in terms of brand clear­ance or in­fringe­ment scen­ari­os.”Whatever de­vel­op­ments AI and oth­er in­nov­a­tion may bring, he thinks that one thing is cer­tain, “As IP law­yers, we al­ways have to be for­ward-think­ing, look­ing to pro­tect and se­cure com­pet­it­ive ad­vant­ages for our cli­ents in mar­kets and op­por­tun­it­ies that are not even fully es­tab­lished yet.” Pi­on­eer­ing new products Lon­don Funds part­ner Chris­toph­er Luck sees a real ap­pet­ite for new types of as­sets from the funds com­munity. He says that di­git­al tech­no­lo­gies are trans­form­ing the back-of­fices of as­set man­agers and are im­prov­ing the cus­tom­er ex­per­i­ence. Fund man­agers are be­com­ing bet­ter at stor­ing and har­ness­ing data, us­ing block­chain tech­no­lo­gies and plat­forms to make on­board­ing of know your cus­tom­er (KYC) in­form­a­tion and data pro­tec­tion a more stream­lined pro­cess. The use of smart con­tracts is also be­com­ing more pre­val­ent. Chris­toph­er Luck notes that the ad­vent of token­isa­tion, the pro­cess of con­vert­ing real as­sets in­to di­git­al rep­res­ent­a­tions (tokens) on a block­chain, has opened up the in­vest­ment mar­ket to a broad­er range of in­sti­tu­tion­al and re­tail in­vestors. “By demo­crat­ising or cre­at­ing more op­por­tun­it­ies for in­vestors, this is provid­ing ad­di­tion­al li­quid­ity in­to a num­ber of sec­tors, most not­ably real es­tate.” He says, “We are see­ing tokens at their most ad­vanced in the United States and Asia, and grow­ing in the UK and Europe.”  Un­der­stand­ing new en­vir­on­ments  In oth­er more tra­di­tion­al sec­tors, law­yers are in­creas­ingly be­ing ex­pec­ted to provide ad­vice on how to deal with the chal­lenges and op­por­tun­it­ies that tech­no­logy provides.Mark Ziek­man, Co-Head of the CMS Con­sumer Products Group, says, “In the con­sumer goods sec­tor, block­chain is mak­ing an im­pact, provid­ing the sup­ply chain and cus­tom­ers with a great­er de­gree of con­fid­ence in the proven­ance of a product and wheth­er it meets key sus­tain­ab­il­ity cri­ter­ia.”Cus­tom­ers, par­tic­u­larly mil­len­ni­als, are in­creas­ingly de­mand­ing in­form­a­tion around trace­ab­il­ity and audit­ab­il­ity to have con­fid­ence in FM­CG com­pan­ies, lo­gist­ics com­pan­ies and re­tail­ers.Fur­ther­more, Mark Ziek­man be­lieves that tech­no­logy in gen­er­al has played a pivotal role in ad­dress­ing wide­spread busi­ness dis­rup­tion caused by COV­ID-19, en­abling com­pan­ies to trans­form their busi­ness mod­els. Good ex­amples are res­taur­ants which al­most in­stant­an­eously changed their busi­ness mod­el to provide takeaways and food de­liv­er­ies. Shops shif­ted their fo­cus to selling on­line. These changes will not dis­ap­pear in the af­ter­math of the COV­ID-19 pan­dem­ic. Shift­ing reg­u­lat­ory land­scapes Reg­u­lat­ors con­tin­ue to face the on­go­ing chal­lenge of keep­ing pace with in­nov­a­tion and the new mar­ket dy­nam­ics it cre­ates. ESG factors have come to the fore in the minds of reg­u­lat­ors as well and this think­ing is only go­ing to in­tensi­fy. Cristina Reich­mann, a Bucharest based part­ner in the CMS Bank­ing & Fin­ance Group, says that reg­u­lat­ors are al­ways hav­ing to re­spond to new eco­nom­ic mod­els and pub­lic sen­ti­ments. She has seen fast dis­rup­tion in the bank­ing sec­tor CEE, “Ro­mania, for ex­ample, has a his­tory of in­nov­a­tion, pre­vi­ously emer­ging as a ma­jor in­ter­na­tion­al out­sourcing hub and then be­com­ing a fintech centre with a num­ber of uni­corns.” She points to agile bank­ing and fintech, which are provid­ing great­er ac­cess and a broad­er suite of ser­vices to cus­tom­ers, and with this comes reg­u­lat­ory chal­lenges. She says, “There are a lot of com­pli­ance as­pects to be met and solved.”
12/2021
CMS In­ter­na­tion­al Dis­putes Di­gest - 2021 Winter Edi­tion
Wel­come to the winter edi­tion of the In­ter­na­tion­al Dis­putes Di­gest, a bi­an­nu­al pub­lic­a­tion that ex­plores, ana­lyses and provides com­ment­ary on the latest trends in the world­wide dis­pute-res­ol­u­tion mar­ket.Des­pite...
03/11/2021
Hey, Copy­right Dir­ect­ive
A video series to ex­plain copy­right rules re­vamped