On May 30, 2018, Hunton Andrews Kurth LLP launched its Blockchain Legal Resource, a blog featuring discussion and analysis of the latest trends and developments in blockchain (distributed ledger) technology. Continue Reading Hunton Andrews Kurth Launches Blockchain Blog
On April 10, 2018, SAP announced an updated pricing model to address indirect/digital access to its digital core products—SAP ERP, SAP S/4HANA and SAP S/4HANA Cloud. In addition, SAP announced that it will separate its license sales department and auditing departments. These moves are in response to intense pressure SAP has experienced from existing and potential customers that culminated last year following (1) the decision rendered in favor of the software giant against one of its customers, where £55 million in damages was alleged by SAP, and (2) its $600 million claim against the world’s largest brewer which was recently reported as having been settled. Continue Reading SAP Announces New Licensing Model to Address “Indirect Access”
E-commerce and online shopping are here to stay, but the explosion of new technology and the number of resources available to facilitate online shopping is an opportunity for retailers to embrace new ideas and concepts that will increase foot traffic to their physical locations. The store-within-a-store concept isn’t new, but the type of store-within-a-store retailers have conventionally seen is changing and bringing in new business. Continue Reading Retailers Should Ensure Flexibility in Lease Agreements for In-Store Partners
Our retail clients are increasingly deploying cloud services solutions to realize cost savings, gain efficiency and enable scalability across numerous functions. In the past year, we have helped our clients deploy dozens of cloud-based point solutions, Enterprise Resource Planning systems and multi-application platforms. And our clients are not alone. One study forecasts that, in 2020, the worldwide public cloud service revenue will be $411.48 billion. However, while the benefits and popularity of cloud services are clear, cloud solutions are not without risks and challenges. Continue Reading Key Issues When Contracting for Cloud Services
As reported on the Hunton Privacy & Information Security Law Blog, on March 8, 2018, the Ninth Circuit Court of Appeals (“Ninth Circuit”) reversed a decision from the United States District Court for the District of Nevada. The trial court found that one subclass of plaintiffs in In re Zappos.Com, Inc. Customer Data Security Breach Litigation had not sufficiently alleged injury in fact to establish Article III standing. The opinion focused on consumers who did not allege that any fraudulent charges had been made using their identities, despite hackers accessing their names, account numbers, passwords, email addresses, billing and shipping addresses, telephone numbers, and credit and debit card information in a 2012 data breach. Continue Reading Ninth Circuit Reverses District Court Decision in Zappos Consumer Data Breach Case
Bitcoin has received considerable media attention in recent months as its value soared to $20,000 in December 2017, then retreated to around $9,000 in February 2018, fueling growing speculation regarding its future. While some investors embrace bitcoin, many members of the general public struggle to understand it. And despite the interest in cryptocurrency by investors, as evidenced by the high market value of bitcoin (even after the recent drop in value), very few retailers and merchants accept cryptocurrency as a form of payment. Retailers and merchants appear to (wisely) be taking a cautious approach. The below article considers the reasons why.
This was a breakout year for blockchain, the technology providing the platform for cryptocurrencies and the emerging market for initial coin offerings and token sales. With bitcoin capturing headlines because of its soaring price, blockchain’s impact is often misunderstood as narrowly affecting the financial sector. Hunton & Williams LLP’s corporate lawyers Scott H. Kimpel and Mayme Beth Donohue discuss with Law360 why “retail and consumer products companies can no longer afford to ignore blockchain as a passing trend.”
On January 18, 2018, Hunton & Williams LLP’s retail industry lawyers, composed of more than 100 lawyers across practices, released their annual Retail Year in Review publication. The Retail Year in Review includes many topics of interest to retailers including blockchain, antitrust enforcement in the Trump Administration, ransomware’s impact on the retail industry, SEC and M&A activity in 2017, cyber insurance, vulnerability to class actions, and the reduced tax rate.
Due to volatile and record-breaking valuations, cryptocurrencies and their underlying technology, blockchain, have been at the forefront of financial news headlines. Blockchain technology is, very simply, a decentralized digital ledger that records economic transactions in a way that cannot be copied or destroyed, therefore eliminating fraudulent or duplicative transactions. Bitcoin is perhaps the best known cryptocurrency, and for which blockchain technology was invented. Bitcoins are discovered through “mining,” a process whereby computers use processing power to solve difficult puzzles. The miner who finds the solution receives bitcoins, essentially digital tokens, as a reward. Unlike traditional currencies, bitcoin and other cryptocurrencies do not require a third party or central authority for its users to transfer value. Continue Reading Cryptocurrency and the Concern for Retailers
In an article published in Internet Retailer on January 11, 2018, Hunton & Williams LLP’s Insurance lawyers Syed Ahmad, Lorelie (Lorie) Masters and Katie Miller discuss the risks retailers face when using smartphone-reliant technology and contactless payment systems, including ransomware attacks and other security breaches, and the insurance coverage necessary to address these potential risks.