It is often said that the law cannot keep up with the pace of a changing reality, particularly technological progress. This is evident for example in the rules for representation of businesses, which are poorly adapted to online transactions. Fortunately the courts approach this problem with understanding.
Bitcoin opened up a spectrum of possibilities and a legal Pandora’s Box. But block chain—the technology on which Bitcoin is based—generates even greater potential and further legal challenges.
New regulations and interpretations will soon have an impact on equity- and debt-based crowdfunding business models.
Investment crowdfunding (understood to mean equity-based and debt-based crowdfunding) currently enjoys great regulatory leeway due to the lack of regulations specifically addressed to the crowdfunding market. But some current and planned regulations may impede its growth. Recent regulatory proposals as well as interpretations could significantly change the current shape of the market, creating both incentives and barriers for participants.
The new recommendation on processing of data for purposes of employment is designed to meet challenges posed by greater digitisation.
On 1 April 2015 the Council of Europe adopted Recommendation CM/Rec(20l5)5 of the Committee of Ministers to member States on the processing of personal data in the context of employment. The previous recommendation was issued before the growth of the internet and new technologies, and did not reflect contemporary realities. Aware of the increased use of new technologies and electronic communications in dealings between employers and employees, the Council of Europe decided to modify the recommendation to ensure adequate protection of personal data in employment.
Software licensing agreements often provide that the licence is granted for an unlimited time. But what does this mean in practice and what legal consequences does it exert?
The Act of 28 November 2014 Amending the Payment Services Act went into force on 29 January 2015.