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it & technology law news

Read through our it & technology law news.

Take a look at our it & technology law team's articles, publications and news:

event

20 June 2024

austria

A.Salajan

10. Weblaw Forum LegalTech

20 Juni 2024 | Zurich / online

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event

13 June 2024 - 15 June 2024

poland

D.Rutecka

AIJA – Setting sails in turbulent times

13 - 15 June | Malta

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event

15 May 2024

poland

D.Rutecka

LegalTech Trends Conference

15 May 2024 | online

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publication

to the point: technology & digitalisation l March 2024

Welcome to the March edition of Schoenherr's to the point: technology & digitalisation newsletter!

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publication

to the point: technology & digitalisation l February 2024

Welcome to the February edition of Schoenherr's to the point: technology & digitalisation newsletter!

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event

08 May 2024 - 10 May 2024

poland

K.Szczudlik

2024 World Technology Law Conference

9 May 2024 | Washington, D.C., United States

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event

20 February 2024

austria

A.Salajan

Legal Tech in 2024: The Augmented Law Firm

20 February | online

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roadmap

Key implications of the NIS 2 Directive: increased liability risk for management and broader scope

The revision of the NIS Directive (EU) 2016/1148 ("NIS 1") was published on 27 December 2022 in the form of Directive (EU) 2022/2555 ("NIS 2") and entered into force on 16 January 2023. NIS 2 is the Commission's response to Member States' inconsistent and fragmented implementation of NIS 1. The revision of this first EU-wide cybersecurity legislation will mean significant and far-reaching changes for companies in "critical" sectors.

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roadmap

Staying compliant in a digital world: why companies should take note of AI

In an era of rapid technological advancement, businesses face an ever-evolving regulatory landscape.

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roadmap

2024

serbia austria

D.Nikolić | S.Leimüller

Cybersecurity in international arbitration: on the road towards green flags

Cybersecurity matters. In a technology-driven society, cybersecurity serves to protect all categories of digital data from theft, misuse and damage. Its importance for individuals, organisations and businesses, especially those operating with sensitive data, is on the rise as cyberattacks become more frequent and sophisticated.

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event

08 March 2024 - 10 March 2024

poland

K.Szczudlik

Legal Hackathon 2024

8 - 10 March | Warsaw

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event

14 March 2024

poland

D.Rutecka

Legal Market Day

14 March 2024 | Poznań, Poland

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media coverage

31 January 2024

serbia

J.Arsić

AI in Law

Paragraf Lex | Interview with Jelena Arsić

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publication

to the point: technology & digitalisation l January 2024

Welcome to this year's first edition of Schoenherr's to the point: technology & digitalisation newsletter!

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event

24 January 2024 - 26 January 2024

serbia

M.Vlajković

Privacy Week conference

24 - 26 January | Belgrade, Serbia

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publication

to the point: technology & digitalisation l December 2023

Welcome to the December edition of Schoenherr's to the point: technology & digitalisation newsletter!

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publication

to the point: technology & digitalisation l November 2023

Welcome to the November edition of Schoenherr's to the point: technology & digitalisation newsletter!

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event

20 November 2023 - 24 November 2023

serbia

M.Vlajković A.Radonjanin

Data Science Conference Europe

22 November | AI, IP, synthetic data

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blog

15 November 2023

austria

A.Salajan

A golden opportunity for legal tech

What a ride it's been for legal tech and digitalisation in 2023! Generative AI took the world by storm. Everyone was surprised by the launch of ChatGPT and by the new capabilities of (generative) large language models. From doomsday scenarios and fear of mass layoffs to valid concerns around how this technology will impact our society, how it needs to be contained and regulated and everything in between, the star of the show was AI.

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event

AssCompact Trendtag 2023

Rechtliche Chancen und Risiken beim Einsatz von KI

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event

21 November 2023 - 22 November 2023

austria

M.Sedrati-Müller

Forum Assekuranz | digitalisation, AI, regulation & ESG in the insurance world

21 - 22 November 2023 | DoubleTree by Hilton Vienna Schönbrunn

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publication

to the point: technology & digitalisation l October 2023

Welcome to the October edition of Schoenherr's to the point: technology & digitalisation newsletter!

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press release

17 October 2023

austria

G.Stangl

The future of global legal services: innovation and AI in focus at Legal Tech Hub Innovators' Forum

The modern world of work is characterised by rapid technological development. In addition to blockchain and metaverse, the use of artificial intelligence (AI) has recently come into focus. Its application is also a crucial question in the legal industry. How will AI change legal advice? Will it be equally beneficial for companies and for lawyers and legal advisors? Where should the legal profession integrate AI into working realities to best meet this challenge? And where should it be avoided?

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press release

Austria: Schoenherr advises Erste Bank on implementation of first AI based financial tool in Austria

Schoenherr advised Erste Bank der oesterreichischen Sparkassen AG on the legal implementation of the 'Financial Health Prototype'. The 'Financial Health Prototype' is a text-based chatbot that combines Erste Bank’s financial expertise with AI technology from OpenAI and ChatGPT to answer 24/7 financial-related questions.

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publication

to the point: technology & digitalisation l September 2023

Welcome to the September edition of Schoenherr's to the point: technology & digitalisation newsletter!

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newsletter

27 September 2023

austria

F.Terharen

(Even) Stronger enforcement of the GDPR?

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newsletter

27 September 2023

serbia

M.Vlajković

Bridging the gap between Serbian regulations and the GDPR: Serbia's Data Protection Strategy unveiled

In late August 2023, at the initiative of Serbia's Data Protection Commissioner (the "Commissioner"), the Government of Serbia adopted the Data Protection Strategy for the 2023-2030 period (the "Strategy"). 

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blog

27 September 2023

serbia

M.Vlajković

The EU Digital Services Act: 19 designated online platforms have completed their last-minute compliance preparations, Serbia is just looking over its shoulder

While most provisions of the EU Digital Services Act ("DSA") will not begin to apply until February 2024, the EU Commission has nevertheless designated 19 "very large online platforms" and "very large search engines" – so-called gatekeepers – for which the strictest rules under the DSA took effect on 25 August this year.

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event

10 October 2023

austria

T.Kulnigg

Fintech Forum 2023

10 October 2023 | Vienna, Austria

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event

21 September 2023 - 22 September 2023

romania

S.Guţiu A.Doytchinova

IBA CEE Conference – The Future of Legal Management

22 September 2023 | Intercontinental Athénée Palace, Bucharest

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newsletter

18 July 2023

austria

F.Terharen

Third time's the charm? EU-US Data Privacy Framework revamped and reloaded

On 10 July 2023, the European Commission adopted an adequacy decision for a lawful data transfer from the EU to the USA for the third time. [1] This means that personal data may again be lawfully transferred to the US. This will facilitate the use of US service providers for EU companies.

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publication

to the point: technology & digitalisation l June 2023

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publication

CZ: Schoenherr Journal Edition 14

The Schoenherr Journal, published by Schoenherr's Prague office, examines the latest important legal developments in the Czech Republic.

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publication

to the point: technology & digitalisation l May 2023

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newsletter

Virtuelle Gesellschafterversammlungen

Mit 30.06.2023 enden in Österreich die letzten Covid-Maßnahmen, virtuelle Versammlungen von Gesellschaften soll es aber auch in Zukunft noch geben.

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newsletter

08 May 2023

austria

S.Khalil

EU: CJEU lowers threshold for GDPR damages

Last Thursday the Court of Justice of the European Union ("CJEU") issued a long awaited ruling on damages resulting from a data protection infringement (C-300/21). Since the Regulation (EU) 2016/679 (General Data Protection Regulation; "GDPR") came into force on 25 May 2018, claims for damages under Art 82 GDPR due to alleged data protection violations like unlawful data processing or incompliance with the GDPR as well as in the context of data breaches or leaks have been steadily increasing. The CJEU's recent ruling clarifies essential issues but raises just as many questions.

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publication

to the point: technology & digitalisation l April 2023

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blog

28 April 2023

austria

F.Terharen

Data protection stopping machine overlords?

The Italian Data Protection Authority "Garante per la Protezione dei Dati Personali" recently banned the use of ChatGPT in Italy due to allegations of unlawful collection of personal data and the lack of an age verification system for children

ChatGPT is a well-known artificial intelligence chatbot developed by OpenAI. It is a simulated chatbot that was primarily created to fulfil customer service tasks. However, people tend to use it to perform many other tasks, such as writing essays, programming or predicting business developments. ChatGPT uses not only data from sources such as websites, articles or textbooks to improve its interaction with its users and to fulfil the set tasks, but also collects and processes data from the users and from the information they provide.

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newsletter

17 April 2023

serbia

M.Vlajković

Serbia adopts ethics guidelines for artificial intelligence

On 23 March 2023, the Serbian government adopted Ethics Guidelines for the Development, Implementation and Use of Reliable and Responsible AI ("Guidelines"), which may be seen as yet another step in the process of harmonising Serbia's legislative framework with the European Union, following the Proposal for an AI Regulation announced by the EU Commission two years ago. The Guidelines largely rely on UNESCO's Recommendation on the Ethics of AI adopted in 2021, which Serbian representatives also helped create. Since the EU is awaiting its regulatory framework on AI, Serbia took the first step down this road as well.  

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publication

to the point: technology & digitalisation l March 2023

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blog

30 March 2023

austria

A.Pabst

GPT-4 shows the ever-increasing importance of legal considerations pertaining to AI

Generative AI has made quantum leaps in the last year. Aside from multiple text2 image models there are large language models producing largely accurate and convincing texts in reply to prompts provided by a user. In November last year OpenAI made available the functionality of their vast 175 billion parameter model GPT-3.5, which was fine-tuned to interpret prompts formulated as questions. ChatGPT is a turning point in the public perception of AI, as it provided compelling texts with comparatively high factual accuracy.

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blog

30 March 2023

serbia

M.Vlajković

North Macedonia: The Data Protection Act and enforcement challenges

After the adoption of the General Data Protection Regulation of the European Union (EU) 2016/679 ("GDPR"), as an obligation based on the Stabilisation and Association Agreement between EU and North Macedonia, a new data protection regime was adopted. Since 2020, the matter of personal data protection in the Republic of North Macedonia is regulated by the new Act on Personal Data Protection (Official Gazette of the Republic of North Macedonia, nos. 42/20, 294/21) ("LPDP"), effective as of 24 February 2020.

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blog

30 March 2023

serbia

M.Vlajković

Serbia incentivises start-up-ecosystem

To attract investors in the area of innovation technologies, Serbia has adopted a set of subsidies relating to employees' salaries and corporate income taxes. In recent years, the country has set its sights on being one of the largest European hubs for EU and overseas IT companies using talented IT workforce only as an outsourcing service supplier while retaining actual project development in the countries of capital origin. This is seen as an opportunity to motivate foreign IT companies doing business in Serbia not only to shift their operations to Serbia on a larger scale, but to tie IP rights on their tech products to their affiliated Serbian companies.

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publication

21 March 2023

austria

V.Demschik

Provider in der Pflicht - ein Überblick über die allgemeinen Sorgfaltspflichten nach dem Digital Services Act

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publication

20 March 2023

austria

M.Woller

Schwerpunkt Providerhaftung

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publication

to the point: technology & digitalisation l February 2023

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publication

21 February 2023

austria

M.Woller C.Schmelz

Schwerpunkt AI – Artificial Intelligence

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roadmap

Digital execution of venture capital transactions

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publication

to the point: technology & digitalisation l January 2023

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publication

27 January 2023

austria

T.Kulnigg S.Schulz

Chambers Technology M&A 2023 Global Practice Guide

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newsletter

05 January 2023

austria

F.Schneider

EU: The end of a dry spell – NIS 2 published

After several delays, the revision of the NIS Directive was published in the Official Journal of the European Union on 27 December 2022 in the form of Directive (EU) 2022/2555 ("NIS 2").

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publication

to the point: technology & digitalisation l December 2022

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blog

23 December 2022

romania

M.Neagu

New crowdfunding regulations in Romania

Despite a turbulent year for Central and Eastern Europe and the region's proximity to the Ukraine warzone, last year CEE was one of the most efficient creators of value in Europe...

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media coverage

24 November 2022

austria

M.Woller

Neue Regeln: Ein Patentverfahren für fast ganz Europa

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newsletter

02 November 2022

austria

F.Terharen

The Digital Services Act: A tight timeline for compliance?

What happened?


The Digital Services Act ("DSA")1 was published in the Official Journal of the European Union on 27 October 2022.2 This means that the Act, targeting numerous online services, will enter into force only 20 days later, on 16 November 2022.

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publication

26 July 2022

austria

M.Woller

Schwerpunkt Metaverse, Web 3.0 und virtuelle Räume

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publication

15 June 2022

austria

A.Pabst

Urheberrecht, Programmanalyse und Dekompilierungen - unbegangenes Terrain

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media coverage

24 May 2022

austria

G.Leissler

Verbandsklagen unter der DSGVO: Noch nicht, aber bald

Eine EuGH-Entscheidung in einem deutschen Fall hat wenig Auswirkungen auf Österreich. 2023 aber ist mit einer Aufwertung des kollektiven Rechtsschutzes beim Datenschutz zu rechnen

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newsletter

20 May 2022

austria

F.Terharen

The future of the internet is now!

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roadmap

The EU Clinical Trial Regulation: big data and … human rights

The new EU Clinical Trial Regulation ("Regulation No 536/2014" or "CTR") was published in May 2014 as Regulation (EU) No 536/2014 of the European Parliament and of the Council of 16 April 2014 on clinical trials on medicinal products for human use. It repeals Directive 2001/20/EC and is applicable to a certain extent as of the end of January 2022.

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roadmap

Decentralised Finance: Opportunities, risks and legal challenges

Decentralised Finance (DeFi) is without question a rapidly evolving area at the intersection of blockchain technology, crypto assets and traditional financial services.

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roadmap

The rise of the machines: The EU is getting ready to regulate AI

In April 2021, the European Commission (EC) released its long-awaited proposal for an Artificial Intelligence Act.1 But what is artificial intelligence?

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roadmap

Does the Digital Services Directive stipulate a right to updates?

The new Digital Services Directive (DSD) aims to harmonise certain aspects of consumer protection law by providing consumers a mandatory warranty for digital content and digital services supplied by a vendor. First and foremost this concerns contracts on the purchase or rental of software (usually comprising licence agreements) or cloud services.

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roadmap

Does a new era of crypto tax transparency lie ahead?

For those who have been paying little attention to the taxation of their crypto assets, things are about to get heated.

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media coverage

28 December 2021

austria

T.Kulnigg

Wie man ein 64-kg-Kunstwerk als NFT verkauft

Derzeit besteht ein regelrechter Run auf digitale Kunstwerke, deren Einmaligkeit durch „Non-Fungible Token“ (NFT) garantiert ist. Das gute alte ABGB ermöglicht es, diese Technologie für körperliche Schöpfungen zu nutzen.

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media coverage

25 November 2021

austria

P.Konwitschka

Non-Fungible Tokens: Ist digitale Kunst versicherbar?

Digitale Kunstwerke in Form von Non-Fungible Tokens (NFTs) erzielen bei Auktionen Millionenpreise. Für Sammler stellt sich daher die Frage, ob sie die Werke versichern können

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event

14 October 2021

austria

G.Kucsko

Artist Talk - Digitale Kunst: Guido Kucsko

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newsletter

07 September 2021

austria

F.Terharen

Digital Austria – overview of domestic digitalisation efforts

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media coverage

07 September 2021

bulgaria

I.Stoyanov

Dissonant Optimism: Mergers and Acquisitions in the Bulgarian Technology Industry

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newsletter

02 September 2021

austria

M.Woller

Patents on NFT? No, NFT on patents!

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newsletter

Unregistered community designs: a secret weapon in design protection?

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newsletter

14 July 2021

austria

C.Benes

Blockchain and (Un)Real Estate

Blockchain technology has – so far – not lead to a transfer of the world's land registers onto this technology or to a "tokenization" of title (documents). The only significant exception in this respect is Georgia where a purchaser's title to real property can be registered by execution of a smart contract.

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newsletter

NFT art: The most important (legal) questions for artists, buyers in general and museums

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publication

06 July 2021

austria

G.Kucsko

ecolex podcast: NFT hype in self-experiment

In ecolex's podcast episode 6/21, Schoenherr partner Guido Kucsko was asked to answer a few questions about NFT and the NFT self-experiment he participated in.

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publication

NFT – ein Selbstversuch

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event

23 June 2021 - 30 June 2021

M.Woller G.Kucsko A.Tipotsch D.Tyrybon C.Cudlik

NFT: An all-round legal view of Non-Fungible Tokens | Webinar

Did you miss our webinar, or do you want to listen to the discussed topics again? Watch the NFT webinar video recordings here!  

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newsletter

When a museum buys an NFT: Legal challenges and considerations

The story of our NFT self-experiment does not end with the selling of the token. To the contrary, it is only the start: The buyer – in our case the Museum Francisco Carolinum in Linz – wants to use the artwork for their purposes. In general, what legal considerations should a museum keep in mind?

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newsletter

09 June 2021

austria

C.Cudlik

NFTs: What about energy and climate issues?

When we started our NFT self-experiment, it did not take long before questions relating to energy consumption came up. According to our estimates, the two transactions (i) minting of the token and (ii) authorisation of an eventual sales processing, produced a CO2-footprint of over 100 kg of CO2EQ.

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newsletter

01 June 2021

hungary

M.Kovács

Hungary implemented CDSM and SatCab Directives, most rules effective 1 June 2021

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publication

Global Legal Insight: Al, Machine Learning & Big Data 2021 - Chapter Austria

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newsletter

Formulating a smart contract and minting an NFT

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media coverage

Selbstversuch mit digitalem Kunstwerk

Kunst über Non-Fungible Token (NFT) hat zuletzt einen Hype ausgelöst. Die technischen und rechtlichen Herausforderungen sind beträchtlich

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newsletter

Let the NFT Self-Experiment begin!

Non-fungible tokens (NFTs) aren't new, in fact they've been around for years. However, it took the auction of an NFT linked to an image by Christie's Auction House and the fall of the hammer at a spectacular USD 69 million to create worldwide attention and interest in NFTs.

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press release

Austria: Schoenherr and Museum Francisco Carolinum clarify NFT Art

Schoenherr's IP & Technology practice group has set itself the goal of providing clarity on Non-Fungible Tokens (NFTs) in the art and culture industry. In collaboration with the Museum Francisco Carolinum Linz in Upper Austria, the questions preoccupying artists, collectors and museums will be addressed at one of the world's first art exhibitions on NFTs in art. An important milestone for this has already been reached: The museum recently acquired their first NFT artwork – a work of art by conceptual artist and Schoenherr partner Guido Kucsko, that was also used in a Schoenherr team's self-experiment.

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newsletter

21 April 2021

F.Terharen

Facial recognition – Austrian regulations v European approach?

Over the last couple of years, more and more countries have deployed technologies that allow them to match digital images of a person (e.g. from a surveillance camera) against a database of pictures.

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newsletter

16 April 2021

austria

F.Terharen

Facial recognition technology: regulations and use

In recent years there has been an increased use of technologies that match a person's digital image (eg, from a surveillance camera) to a picture database. These technologies facilitate various tasks, including:

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press release

Austria: Bitpanda becomes a Unicorn with the support of Schoenherr

Schoenherr provided legal advice to the Viennese crypto-fintech Bitpanda on the implementation of an investment in the amount of EUR 143 million. 

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media coverage

15 February 2021

romania

M.Neagu

Drones: from toys to delivery vehicles

The EU appears to be following the steps already taken in the United States, where several companies have already been authorised to use drones for commercial purposes.

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press release

Austria: Schoenherr advises Storyblok on EUR 7m financing round (Series A)

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roadmap

Robo-advice in Poland

Back in 2016 the Bank of America raised an interest in financial robo-advisory. Two years later, Wealthfront was the first fully automated advisor offering free, personalised financial planning for its customers. 

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roadmap

COVID-19 – a catalyst for digital assets and crypto trading regulation?

The economic impact caused by the COVID-19 pandemic has not only significantly changed the way we work, travel and shop, but has sent a large number of investors on the search for assets that can provide a safe haven during the ongoing crisis and its macroeconomic events.

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roadmap

IT projects: Everything agile or still waterfall?

Agile project methods have been a topic of conversation for years. There is hardly a management consultant who does not swear by them and hardly a company that does not prescribe "agile" as a miracle cure for many homemade problems. Agility in project management has almost become mandatory, for better or worse.

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roadmap

2021

Quickly adapt with an e-commerce presence and digital business models

The COVID-19 crisis has forced many businesses to sell their goods and services online. Limitations on the number of people who can enter a store or restaurant have made e-commerce solutions necessary even for companies that have never used this channel before.

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newsletter

20 January 2021

austria

B.Rajal

Austria: Network reserve to become part of congestion management system

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newsletter

23 December 2020

C.Haid F.Schneider

Cybersecurity on the rise: The NIS Directive 2.0

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newsletter

16 October 2020

hungary

Investigation against TikTok in Hungary – how the HCA takes on the tech world

The Hungarian Competition Authority (HCA) has initiated an investigation against TikTok, the popular social media platform.

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publication

to the point: technology & digitalisation l August 2020

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publication

Global Legal Insight: Al, Machine Learning & Big Data 2020

The Global Legal Insights series provides essential insights into the current legal issues, providing readers with expert analysis of legal, economic and policy developments through the eyes of the world's leaders. 

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media coverage

29 April 2020

bulgaria

K.Bozhinova

Bulgaria: Lawyer Kristina Chakarova for the monitoring of mobile devices and the European experience

Under the state of emergency, a number of measures restricting personal freedoms were introduced. Among the controversial proposals was mobile device monitoring during the COVID pandemic. 

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publication

to the point: technology & digitalisation l April 2020

Welcome to our April edition of Schoenherr's to the point: technology & digitalisation newsletter!

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blog

10 April 2020

austria vienna

T.Kulnigg

Das COVID-19-GesG – aktuelles zu Virtuellen Versammlungen im Gesellschaftsrecht und zu elektronischen Notariatsakten

Update 10/04/2020

Der Nationalrat hat unter anderem im Zuge der COVID-19-Gesetzgebung mehrere gesellschaftsrechtliche Maßnahmen im Rahmen eines sog. gesellschaftsrechtlichen COVID-19-Gesetzes (COVID-19-GesG) beschlossen.

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publication

to the point: technology & digitalisation l March 2020

Welcome to our March edition of Schoenherr's to the point: technology & digitalisation newsletter!

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blog

30 March 2020

austria vienna

S.Khalil

Court hearing via social network – has Europe missed its chance?

Digitalisation is on everyone's lips. Parts of the judiciary – at least in some European countries – are hesitant. Austria introduced an electronic legal communication system for most Austrian courts decades ago. 

 

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publication

to the point: technology & digitalisation l February 2020

Welcome to our February edition of Schoenherr's to the point: technology & digitalisation newsletter!

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publication

to the point: technology & digitalisation l January 2020

Welcome to our third edition of Schoenherr's to the point: technology & digitalisation newsletter!

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press release

12 December 2019

austria

C.Schmelz

Austria: Lawyer vs. Robot: Is there a future without human lawyers?

On 10 December, experts from both legal practice and academia spent the evening at the "Lawyer vs. Robot: A lost cause?" event which is part of the event series TECHNOLOGYLEGAL, a collaboration between Professor Christian Piska from the University of Vienna, and Christian Schmelz, partner at Schoenherr Vienna.

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blog

02 December 2019

austria vienna

U.Rath

European Commission's Expert Group publishes report on Regulatory Obstacles to Financial Innovation

Just in time for Christmas, the European Commission's Expert Group published its eagerly awaited final report on regulatory obstacles to financial innovation on 13 December 2019 (the "Report").

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blog

02 December 2019

austria vienna

C.Haid

Update on Artificial Intelligence and Competition Law

On 6 November 2019, the German Cartel Office and the French Competition Authority published a joint report on the competition risks resulting from the use of algorithms (the "Report"). The Report tackles four main issues:

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press release

25 November 2019

austria

T.Kulnigg

Second Tech Night @ Schoenherr: Digital adaptability as a prerequisite for success

Am 21. November fand die zweite "Tech Night @ Schönherr" statt. Die von der Schönherr Technology & Digitalisation Gruppe ins Leben gerufene Eventreihe befasst sich mit rechtlichen Rahmenbedingungen und Herausforderungen im Kontext aktueller digitaler und technologischer Entwicklungen.

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newsletter

19 November 2019

austria

New rules for Digital Content & Sale of Goods 5/5

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blog

04 November 2019

austria vienna

T.Kulnigg

Facebook's Libra: The new generation of cryptocurrencies?

"When I think about all the different ways that people interact privately, I think payments is one of the areas where we have an opportunity to make it a lot easier," Zuckerberg said on 30 April 2019 at Facebook's F8 annual software developer conference in San Jose, California.

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blog

04 November 2019

poland

D.Rutecka

Increased activity of the Polish Data Protection Authority

As of November 2019, the Polish Data Protection Authority (Urząd Ochrony Danych Osobowych; "UODO") has fined three Polish companies and one local government institution for non-compliance with the GDPR.

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blog

04 November 2019

austria vienna austria linz

T.Kulnigg

Digital foundation of an Austrian limited liability company

The Electronic Notarial Form Foundation Act (Elektronische Notariatsform-Gründungsgesetz) ("ENG") came into force on 1 January 2019 and enables going forward the digital foundation of an Austrian limited liability company ("GmbH") by way of an electronic notarial deed. The Austrian notaries were entrusted with the implementation of the digital foundation procedure. Since autumn 2019, the first notaries in Austria have been offering the digital foundation process of a GmbH. Schoenherr attorneys at law, was the first person in Austria to accompany a digital foundation process.

Before we describe the digital foundation in practice, we briefly describe the notarial process of founding a GmbH in general: (i) execution of the deed of incorporation / articles of association as Austrian notarial deed (Notariatsakt), which essentially requires that the notary reads out the agreement and the parties sign the agreement in front of the notary, (ii) appointment of the first managing director(s) by way of a shareholders' resolution (by way of a notarial protocol, circular resolution with certified signatures or – as this is done in practice – as part of the notarial deed described under (i)), (iii) execution of the specimen signatures of the managing director(s) with their signatures being certified by a notary public (this could also be done by a foreign notary or an Austrian embassy/consulate) and (iv) execution of the commercial register filing again with signatures being certified by a notary public or Austrian embassy/consulate.

The ENG now attempts to fully digitalize such process. The process in practice can be described as follows:

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newsletter

31 October 2019

austria

New rules for Digital Content & Sale of Goods 4/5

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newsletter

16 October 2019

austria

New rules for Digital Content & Sale of Goods 3/5

e-commerce
(legal insight 3 in a series of 5)

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newsletter

03 October 2019

austria

G.Leissler

CJEU: "opt-out" language does not create valid cookie consent - Austria

Case: C‑673/17; Bundesverband der Verbraucherzentralen und Verbraucherverbände — Verbraucherzentrale Bundesverband eV vs Planet49 GmbH

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newsletter

02 October 2019

austria

New rules for Digital Content & Sale of Goods 2/5

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newsletter

18 September 2019

austria

New rules for Digital Content & Sale of Goods 1/5

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blog

17 September 2019

austria linz austria vienna

T.Kulnigg M.Pressler

FinTech 2019 in Austria

Financial technologies, or FinTechs, are rapidly changing the finance/banking sectors, and sometimes even shift whole markets online, and make it possible to deal, invest or lend money without ever needing to deal with a traditional bank.

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blog

06 September 2019

serbia

M.Vlajković

Serbia catches up with the GDPR

1. New Data Protection Law adopted and applicable

After a public hearing that lasted more than a year, the National Assembly of the Republic of Serbia adopted the new Data Protection Law (the "Law") on 9 November 2018. The Law is applicable as of 21 August 2019. The provisions of the Law itself have been modelled on, and largely comply with the provisions of the GDPR, as part of the wider process of harmonising the national law of Serbia with EU law, which was one of the main reasons for the adoption of the new Law. Besides many novelties, the new Law elaborates on certain procedures, rights, obligations and competences.

Some of the most important novelties follow.

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blog

02 August 2019

austria vienna austria linz

M.Pressler

EU-Finanz-Anpassungsgesetz 2019 │ New Challenges ahead for the virtual currency business

On 11 July 2019 the Austrian parliament adopted the EU-Finanz-Anpassungsgesetz 2019 ("EU-FinAnpG 2019") which implements the 5th EU Anti-Money Laundering Directive ("5th AML Directive") into Austrian law and introduces a number of amendments to Austrian laws relevant to the financial market.

In order to implement the 5th AML Directive, amendments to the Austrian Financial Markets–Money Laundering Act ("FM-GwG"), the Beneficial Owner Register Act (WiEReG) and the Act on Gaming (Glückspielgesetz), are necessary. These amendments include changes which will have a significant impact on business with virtual currencies.

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press release

26 July 2019

austria

T.Kulnigg

Austria: Schoenherr advises SynerGIS on the sale of its GIS and FM software development business to AED-SICAD

Schoenherr has advised the shareholders of the Synergis Informationssysteme GmbH ("SynerGIS") on the sale of its GIS (geographic information systems) and FM (facility management) software development business to AED-SICAD GmbH ("AED-SICAD").

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blog

08 July 2019

austria vienna austria linz czech republic

S.Bednář

Schrems II.: the doom of Privacy Shield and Standard Contractual Clauses?

Read the Czech version below.

There are two fundamental legal mechanisms stipulated in the EU law for the transfer of personal data outside European Economic Area (EEA): Standard Contractual Clauses (SCCs) and Privacy Shield. Both of them are widely used in practice because they allow corporations within the EEA to legitimise the transfer of personal data beyond the borders of EEA. However, each of them behaves differently. SCCs are essentially contracts between (at least) two parties and a Privacy Shield on the other hand is an agreement between the United States Department of Commerce and the European Union, which regulates the transatlantic data transfers.

The Court of Justice of the European Union (CJEU) is prepared to hear a case challenging the validity of both of the above-mentioned transfer instruments. The case stems from a dispute between Max Schrems and Facebook dating back to 2013. Max Schrems is an Austrian lawyer and determined advocate for data protection. His focuses on the flow of (EU) personal data from US corporations to U.S. intelligence agencies. In 2017, Schrems set up a non-profit organisation NYOB1 with the aim to help citizens defend themselves against allegedly “omnipresent” technological corporations.

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publication

Praxishandbuch Cloud Computing

Der Trend Cloud Computing ist längst in der Praxis angekommen und der Markt wächst. 

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newsletter

19 June 2019

austria

C.Schmelz

Does Austrian aviation law comply with the new EU rules for drones?

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blog

22 May 2019

austria linz austria vienna

N.Zafoschnig

Cybersecurity NIS Directive in Austria

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publication

15 May 2019

austria

G.Leissler

Glücksspielgesetz-Novelle 2019: Bedarf zur Regulierung von Lootboxen?

"Lootboxen" und Glücksspiel - eine heftig diskutierte Kombination. Mit dem steigenden Verbreitungsgrad von Lootboxen gerät die Frage vermehrt in den Fokus, ob Lootboxen Gemeinsamkeiten mit dem Glücksspiel aufweisen und damit reguliert gehören.

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press release

14 May 2019

austria

T.Kulnigg

Tech Night @ Schönherr: Fintech-Kooperationen sind die Zukunft der Banken

Am 8. Mai fand die erste Technology Night @ Schönherr statt. Der Abend hielt für interessierte Zuhörer Keynotes und Panel-Diskussionen zu trending Tech-Themen bereit.

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blog

03 May 2019

austria vienna austria linz

C.Cudlik

A glimpse into the future of AI regulation

Challenges and opportunities for organisations developing, deploying and using AI

On 8 April 2019, the High-Level Expert Group on Artificial Intelligence – a supportive body to the European Commission – launched their "Ethics Guidelines for Trustworthy AI". Based on four questions, the following text deals with the context and content of this guideline, deducing the possible next steps for AI practitioners towards the achievement of Trustworthy AI.

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newsletter

09 April 2019

austria

Austria: What does "limited space" mean under the Act on Distance Contracts and Off-Premises Contracts?

Directive 2011/83/EU of 25 October 2011 on consumer rights (the "Directive") and the Fern- und Auswärtsgeschäfte-Gesetz (the "FAGG") impose many information obligations on traders before the consumer is bound by a distance or off-premises contract, or any corresponding offer.

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blog

03 April 2019

austria vienna austria linz

C.Holzer

Austrian public enterprises join forces to accelerate 5G expansion

On 26 March 2019, the Austrian mobile operator T-Mobile commissioned the first 25 5G mobile stations in 17 selected Austrian municipalities, predominantly in rural areas. According to the Chancellor of Austria, the start of 5G marks a milestone in the country's economic competitiveness and technological progress.

However, further steps need to be taken to achieve almost nationwide availability of 5G by the end of 2023 as laid down in the Federal Government's 5G strategy paper.

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newsletter

29 March 2019

austria

C.Jirak

Austria: Electric vehicles exempt from emissions-reducing speed limits

The transport sector is especially important for reducing worldwide greenhouse gas emissions and air pollutants. This is also the case in Austria.

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blog

26 March 2019

austria vienna austria linz

J.Böszörményi G.Leissler

Austrian DPA case law since 25 May 2018 (excerpt)

Introductory remarks:
  • So far, the Austrian Data Protection Authority ("DPA") did not impose significant fines under the GDPR
  • The majority of its decisions had been remediation orders
  • This excerpt of the DPA's decisions under the GDPR forms a summary per March 2019 of its in our view most relevant decisions
  • Despite some of those decisions had been contested and appellate proceedings are still pending this excerpt shall give an impression of the DPA's views and considerations under the GDPR
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blog

21 March 2019

austria vienna austria linz

J.Stalzer

Austria paves the legal way for (partly) autonomous vehicles

Imagine your car would drive you instead of you driving your car. This marvel has become partly a reality, as a law entered into force on 11 March 2019 allowing autonomous driving on Austrian highways. In addition, an amendment to the regulation for autonomous driving (Automatisiertes Fahren Verordnung – AutomatFahrV) by the Ministry of Traffic, Innovation and Technology broadly permits autonomous parking of vehicles.

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newsletter

25 February 2019

austria

Austria: Proposal of the European Parliament and of the Council for a regulation on promoting fairness and transparency for business users of online intermediation services

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blog

11 February 2019

austria

T.Kulnigg

Combining Blockchain and AI to make Smart Contracts Smarter

Blockchain and Artificial Intelligence (AI) are the new giants in technology and two of the hottest topics at the moment. The two technologies are typically considered for separate applications but there is a link: data.

AI allows processing of big data, whereas Blockchain offers security, immutability and decentralised data storage. It makes sense to combine the two technologies to make "Smart Contracts smarter" and to potentially also be a driver of the fourth industrial revolution: Data owners might be able to control their data again by choosing which AI provider to share their data with. Data marketplaces might also be possible, boosting AI applications when combined with Blockchain technology.

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press release

06 February 2019

austria

T.Kulnigg

Austria/CEE: Schoenherr sharpens focus on technology & digitalisation matters

Schoenherr is sharpening its focus on technology & digitalisation matters by establishing a dedicated, firm-wide technology & digitalisation group.

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blog

01 February 2019

austria

T.Kulnigg

What is Blockchain?

Blockchain1 or Distributed Ledger Technology has become a trending topic especially in the light of cryptocurrencies, smart contracts, ICOs and other areas in the context of digitisation, which are based on this technology. This technology and the (alleged) possibility to digitalise any kind of assets or create bullet-proof sets of data has the potential to revolutionise certain industries. It is therefore essential to understand blockchain technology in order not to fall behind. The following is a brief introduction to the technology, its variants, advantages and possible applications.

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roadmap

Data Processing Agreements – allocation of liability between parties

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newsletter

12 December 2018

romania

D.Iàcona

Romania: Cybersecurity - call for action for major companies in critical sectors

The first piece of EU-wide legislation on cybersecurity is expected to be transposed into Romanian law anytime now, bringing into play enhanced system security obligations for major companies in certain sectors, as well as fines of up to 5 % of non-compliant companies' turnover.

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press release

29 October 2018

austria

G.Stangl

Launch of Legal Tech Hub Vienna

The law firms Dorda, Eisenberger & Herzog, Herbst Kinsky, PHH, Schoenherr, SCWP Schindhelm and Wolf Theiss, today launched the Legal Tech Hub Vienna (LTH Vienna). 

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press release

04 September 2018

austria

T.Kulnigg

Austria: Schoenherr advises crowdinvesting company CONDA on first-ever digitalisation of shares via blockchain in Austria

Schoenherr and CONDA AG ("CONDA") have succeeded in digitalising the shares of the joint stock company and enabled registered shares to be managed via blockchain technology. 

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newsletter

Austria: ECJ latest Facebook ruling makes waves: Impact under the GDPR?

In its decision C-210/16 of 5 June 2018, the European Court of Justice (ECJ) ruled on a dispute between a German academic institution and a German data protection authority. The institution operated a fan page on Facebook and collected user data via cookies, which were placed by means of a function called "Facebook Insights".

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newsletter

25 February 2018

austria

G.Leissler M.Woller

Österreich: Selbstlernende Systeme: Wem gehört’s – wer hat Schuld?

Die rasante technologische Entwicklung bis hin zu den sich selbst weiterentwickelnden Systemen künstlicher Intelligenz verlangt nach neuen juristischen Denkansätzen.

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press release

AT/CZ: Schoenherr strengthens teams in Vienna and Prague with two new contract partner promotions

Schoenherr is announcing the promotion of Austria IP lawyer Michael Woller and Czech corporate/M&A expert Vladimír Čížek to contract partner. 

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press release

05 February 2018

austria

M.Lagler M.Woller

Schönherr ernennt IP-Experten Michael Woller zum Contract Partner

Mit Beginn des neuen Geschäftsjahres steigt Michael Woller (35) zum Contract Partner bei Schönherr auf.

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roadmap

Austria: Trademarks – The New Concept of Intervening Rights

With the EU trademark law reform, the possibilities to defend a later trademark against an earlier trademark have been significantly expanded due to the establishment of so-called intervening rights.

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roadmap

Austria: Machine Learning: Whom to Credit, Whom to Blame?

Rapid technological progress, artificial intelligence, machine learning – all those advancements require a new concept of legal thinking.

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