December 25, 2023
Taiwan Introduces the Accelerated Design Patent Examination Pilot Program The Taiwan Intellectual Property Office (TIPO) has introduced their Accelerated Design Patent Examination Pilot Program to provide a more flexible examination process for design patent applications.  Following are some of the conditions for applicants to be aware of: Applicants shall provide documents to show that a third party has used the design commercially backed up by a timeline and third party details. The applicant should submit evidence such as product catalogs, newspapers or magazines. Applicants who have won known domestic or international design awards shall provide relevant documents including a certificate bearing the applicant’s name and appearance of the subject design. Design awards such as the Golden Pin Design Award (Taiwan), iF Design Award (Germany), Red Dot Design Award (Germany), Good Design Award (Japan), and the International Design Excellence Award (USA) all qualify. Design patent applications from startup companies that are registered and established for less than 8 years can qualify. If the applicant is a non-Taiwanese company, proof of establishment date (and Chinese language translation) shall be required.  Also, a startup company can only apply for Accelerated Design Patent Examination for a maximum of 3 cases in the same year. The program is applicable once the TIPO has notified the applicant that an application is about to enter substantive examination or re-examination. TIPO expects to render examination results within 2 months at the latest after the application form and necessary documents are submitted in full. The trial period of the program runs until December 31, 2024.  The TIPO will determine whether to continue implementation or modify the program after...
December 12, 2023
Taiwan Tech Arena Celebrates Fifth Anniversary Tech incubator Taiwan Tech Arena was formed by the Cabinet in 2018.  Its aim was to nurture chip-focused start-ups and recruit international talent to Taiwan by optimizing the investment environment for start-ups and create programs to encourage youth entrepreneurship and regional vitalization.  The Cabinet has approved more than 90,000 applications for youth entrepreneurship loans and assisted young start-ups in obtaining more than NT 73.5 billion dollars in financing.  More than 700 start-ups have been created with this help in such fields as artificial intelligence (AI), software and health applications.  In effect, the organization bridges the gap between academia and the private sector via the National Science and Technology Council (NSTC).  Next year, the government plans to launch the Chip-Driven Taiwanese Industrial Innovation Plan.  By actively assisting entrepreneurs to protect their IP, the plan will roll out new initiatives to bolster connections with other countries, promote industrial innovation while integrating Taiwan’s industrial supply chains.  The 10-year plan seeks to take advantage of Taiwan’s strengths in semiconductors to drive breakthroughs in sectors related to food, medicine, housing, transportation, education and entertainment.  Currently, there has been a lot of investor excitement over ChatGPT, and indeed the potential for patents in semiconductor technologies and software related design has given a boost of optimism to the sector. Taiwan Increases Research and Development Spending In a study organized by the Ministry of Economic Affairs researching the period 2012 to 2021, it was seen that Taiwanese companies accelerated research and development investment to an all-time high of NT 820.6 billion in 2021.  A lot of the research and development has...
November 10, 2023
The Hong Kong Legal Walk begins on 20 October 2023, marking only the second event in its history. As the opening ceremony approaches, Phil Taylor looks at what makes the event special, and what it means for its participants, benefactors and charities Walking for a just cause may be in lawyers’ bones. Over the years, and across the world, countless causes have been supported in this way. Walking together in public is a way of showing solidarity and raising money for those less fortunate, lawyers have often been at the forefront of these initiatives. It was while mulling over thoughts like these in late 2020, that Jonathan Bell, an entrepreneur with extensive background in the legal sector, realised that something was missing in Hong Kong. The London Legal Walk, a popular annual fundraising event supporting free legal advice services, is approaching its 20th anniversary and has raised over £10 million in that time. Similar events take place in other cities. But there was a noticeable gap in Hong Kong. “This idea came to me: there’s that great initiative in London, so let’s take that initiative and that model, and run it in Hong Kong – or walk it, for that matter,” says Bell. And so the Hong Kong Legal Walk (HKLW) was born. The timing could not have been much better. After the challenges of the past few years, including the long months of lockdown and isolation, many people were keen to get outside and get involved in something bigger. Speaking to the Hong Kong Legal Talk podcast in September, Amanda Rasmussen, Managing Director of FTI Consulting, summarised this...
November 10, 2023
A Growing Trend and a Call to Action JENNIFER WU Hong Kong has witnessed a recent surge in cyber security breaches, with both private and public sectors falling prey to cyberattacks. According to the Office of the Privacy Commissioner for Personal Data (“PCPD”) in Hong Kong, there was a more than 20% increase in reported data breaches in the first half of 2023 compared to the second half of 2022. These breaches have had a profound impact on businesses and individuals, from disrupting business operations to compromising sensitive personal data including credit card details, login credentials and, more severely, medical records. The consequences of these breaches extend beyond financial losses, affecting trust and reputation in the long run. Acknowledging the magnitude and impact of these breaches, the PCPD has taken a more proactive approach to combat the issue. The PCPD is actively investigating and reporting breaches of data privacy and issuing comprehensive guidelines to help organisations improve their data management and security practices. This article aims to shed light on the cyber security risks, recent enforcement actions taken by the PCPD, and the recommended measures to prevent data breaches. An Insight Into A Recent Investigation The PCPD’s investigation into the unauthorised access to credit data in the TE Credit Reference System (“System”) is one example of the impact of data breaches and the remedial measures that could have helped prevent the incident. The complainant discovered that their credit records in the System had been accessed without their knowledge and consent by several other money lending companies. The System was developed and operated by Softmedia Technology Company Limited (“Softmedia”). Around...
November 10, 2023
Global M&A activity has slowed significantly – the total value of M&A fell to US$732.82 billion in the second quarter of 2023, from $1.14 trillion in the second quarter of 2022 according to Dealogic data as of June 29 20231. While there have been fewer ‘marriages’ in the past year, we are seeing an uptick in acrimony and ‘divorces’. By that, we mean M&A related disputes in the context of both ongoing M&A activity and deals that have been completed in recent years. This growth appears to have been prompted by the economic headwinds that have seen all businesses suffer. These include record levels of inflation and high interest rates, coupled with a slower than expected economic recovery by the second largest economy in the world, China, and the continuing conflict in Ukraine. Therefore, obtaining maximum value from M&A ongoing and past activity has never been more important. This article explores three scenarios in M&A disputes that have come to the fore in recent times, highlighting their implications and possible mitigating measures for businesses and their inhouse lawyers. Material Adverse Change (mac) And Conditionality Related Disputes MAC clauses provide a contractual mechanism that may allow the buyer to terminate the acquisition agreement and withdraw from the transaction if, before completion, certain events occur which negatively impact the target company’s value or operations. MAC clauses provide a means for allocating risk between the parties before completion – essentially providing an exit route for buyers in certain, limited, circumstances. Other conditions precedent for the completion of a transaction are also often necessary for regulatory or commercial reasons. The present global environment...
November 10, 2023
Located on the landmark skyscraper in Qianhai, the SCIA Tower, the new headquarters of the Shenzhen Court of International Arbitration (SCIA) provides an impressive sea view, overlooking the 5.5-kilometer-long highway bridge linking the booming city in South China with Hong Kong. As China’s first arbitration institution established in South China, including Hong Kong and Macao, in 1983, the SCIA now possesses influence that extends far beyond the region. According to the SCIA, the total amount in dispute of arbitration cases it accepted in 2022 hit RMB 127.2 billion ($17.47 billion)— compared with RMB 16.5 billion in 2017 and RMB 3.9 billion in 2012 — the highest in Asia and top three in the world among its peers. Roughly one-third of the total amount, or RMB 42 billion, belonged to international arbitration cases. So far, the arbitration and mediation services of SCIA have been extended to 140 countries and regions. Describing it as a “pleasantly surprising ‘report card’”, An Xin, vice president of SCIA, told reporters in Shenzhen recently that the SCIA is gaining more trust from the market as an increasing number of Chinese and foreign companies have chosen the SCIA for arbitration over the years, and amounts involved were markedly augmented as well. In one of the cases several years ago, an investment dispute arose between Chinese and US companies, involving an amount of over RMB 13 billion, An recalled. The case, which was later famed for being the largest dispute amount in the history of Chinese arbitration, impressed the vice president a great deal. Due to the absence of an arbitration clause in the initial contract, the...