The Delaware Rapid Arbitration Act (DRAA), effective as of May 2, 2015, is a recent arbitration statute that promises to be popular among parties to a wide range of business agreements. The DRAA is intended to be used principally for the resolution of commercial disputes between businesses, but it has been appearing in venture capital financing documents. Will the Act prove to be effective in the intra-corporate context, as well?
Companies including Apple, Google, Tesla, Toyota and Uber are all developing and testing self-driving car technology. Toyota announced in November that it would spend $1 billion over the next five years on research centers related to autonomous vehicles at both MIT and Stanford. Apple, Google, Tesla and Uber have also committed to substantial research initiatives focusing on the testing and developing of autonomous vehicles. BMW, Audi and Daimler recently purchased Nokia’s map business, including intellectual property focused on self-driving cars.
Choosing to sell is only the first of many complicated decisions founders make when considering an exit. Founders face countless challenges at this crucial turning point for their company. At the 2015 FOLEYTech Summit, Susan Pravda, Foley’s Boston Office Managing Partner, led panelists David Friend, Co-Founder and Executive Chairman of Carbonite, Inc.; Ron Gruner, Co-Founder and Chairman of SkyAnalytics, Inc.; Jay Steinfeld, Founder and Chief Executive Officer of Blinds.com; and Robert Brown, Managing Director and Co-President North America of Lincoln International, in a discussion about their successful sale experiences, the paths they chose, and the challenges they faced in doing so.
Cybersecurity has become, as it should, an extremely important topic on company boards’ agendas. The main question on everyone’s mind is: “How can we eliminate this problem?” The answer, unfortunately, is that you can’t. Hackers are becoming more sophisticated, and their knowledge evolves with every new technology. As discussed by a panel of experts at the 2015 FOLEYTech Summit however, there are certain steps that companies can take to help prevent these cyberattacks from occurring.
Throughout previous Emerging Company Exchange posts, we’ve discussed the importance of intellectual property (IP) for technology companies. For medical device companies, regulatory guidelines present challenges that should be considered when developing an intellectual property strategy.
Learn more about five common intellectual property quandaries facing early-stage medical device companies in our recent article on Medical Design & Outsourcing.