That’s a Wrap on Doing Business Globally in Chicago and Dallas

The Doing Business Globally plenary panel in Dallas, moderated by Baker McKenzie partner Brian Hengesbaugh (left), discussed the impact of the Digital Age on businesses.

Our Doing Business Globally programs in Chicago and Dallas last week brought together senior business leaders and Baker McKenzie practitioners from around the world to discuss the legal and business challenges facing global companies in the Digital Age. The event drew more than 350 attendees, including dozens of general counsel, senior in-house counsel and other senior business executives.

Leading global futurist Jim Carroll provided thoughtful insights on the acceleration of risk in the era of disruption during his keynote address, while our panel sessions explored the complexities of operating on a global platform and the trends that will impact commercial decisions, providing concrete strategies to transform digital business models.

Read a full recap of DBG in Chicago and Dallas, and check out tweets and photos from the event. Plus, stay tuned for more details on our Mexico City program in January.

 

Safeguarding Trade Secrets

Trade Secrets

Baker McKenzie Partners Jochen Herr, Shih Yann Loo and Jay Utley.

Our panel at Doing Business Globally in Dallas today discussed the importance of safeguarding trade secrets. Panelists included Baker McKenzie Partners Jochen Herr from Munich, Shih Yann Loo from Hong Kong and Jay Utley from Dallas.

Key takeaways from the group’s discussion:

  • Risk is rising every year and keeping a trade secret is becoming more difficult. “61 percent of senior executives we surveyed said trade secrets are a board level issue,” said Baker McKenzie partner Jay Utley, referencing the Firm’s report on the importance of trade secrets.
  • In the EU, countries have laws for trade secret protections, but it varies widely from one nation to another. According to Jochen Herr, dealing with trades secrets in the EU  requires a great deal of experience.
  • With over a billion people, China is an attractive place to set up R&D centers. Dealing with a trade secret can be highly complex in China, however, with court documents requiring notarization and legalization.

How can companies be prepared? The panel recommended this trade secret checklist:

  • Identify your trade secrets
  • Create and maintain a trade secrets inventory
  • Implement protective contractual, physical, technical and organizational measures
  • Create a misappropriation action plan

Tech, Data and Cross-Border M&A Deals

Cross Border MA Panel PhotoOur panel at Doing Business Globally in Dallas today discussed how to maximize tech and data in cross-border M&A deals. Panelists included Baker McKenzie lawyers Roger Bivans, Carole Spink and Lindsay Martin.

The group’s discussion covered the key data-related considerations in Valuation, Due Diligence, Drafting and Negotiating, and Closing and Integration.

Valuation

“How do you put a number on data privacy issues?” asked moderator and Baker McKenzie Partner Roger Bivans.

To assess the value, companies should determine the kind of data that may transfer as part of the transaction, and what the consequences would be if the data cannot be used. Also, businesses should consider cost and reputational risk of data security.

Due Diligence

“This is the time to get your arms around the who, what, when, where and why,” said Baker McKenzie associate Lindsay Martin.

To assess a deal from the perspective of data protection, data privacy, and IT considerations, companies are encouraged to consider 1) data to be transferred in the deal; 2) jurisdictions at issue and applicable laws where possible; and 3) how to obtain factual information about IT resources, data security, data needs and compliance.

Drafting & Negotiating

During the pre-close time, the sharing of personal data between the parties may require a data transfer agreement.

Parties may also limit data sharing by, for example, redacting personal data, providing only general or high level information or allowing only limited individuals at the acquiring company to view the data.

Getting the information can be challenging,” said Baker McKenzie partner Carole Spink.

Closing & Integration

Two main data areas to consider during closing are related to Human Resources and Customer information.

For HR data, companies should determine:

  • Where works council consultations or other discussions with employees should occur.
  • What notices of policies employees should receive post-close
  • Whether amendments to employment agreements are required

For Customer/Third Party Data, companies should determine:

  • What communications, if any, are required to consumers, customers, business
    partners, vendors, suppliers and other third parties
  • Whether privacy terms in contracts should be negotiated.

 

Analyzing the legal challenges for autonomous driving

Panelists at Doing Business Globally in Chicago on Nov. 7, 2017 discuss automated vehicles.

“We are witnessing a technological race,” a panel of Baker McKenzie attorneys and in-house counsel concurred during Doing Business Globally in Chicago today while sharing insights on automated driving systems (ADS) and self-driving vehicles.

The panel included Baker McKenzie attorneys Michael Stoker and Adam Aft from the Firm’s International Commercial Practice and Catherine Muir from its Litigation & Government Enforcement Practice.

A few highlights:

  • Many industry heads predict that driverless cars will become publicly available by 2021. In the long term, the goal is to make driving safer.
  • Car hacking is not new,  but the stakes are higher with automated vehicles. There are risks associated with the technology in terms of  increased complexity and connectivity.
  • The laws related to ADS-equipped vehicles are quickly evolving, and regulators are competing for regulatory authority.
  • There is no uniform approach to regulating ADS-equipped vehicles in the EU, and the majority of US states are silent on whether these vehicles are permissible.
  • Lawmakers are beginning to develop ethical frameworks for automated and connected vehicular traffic.

Also, watch a video the panelists shared during  their discussion on self-driving vehicles on the road today:

 

The Perfect Storm on Data Privacy and Cybersecurity

Panelists at Doing Business Globally in Chicago discuss the increased regulations surrounding data privacy and security.

At our Doing Business Globally program in Chicago today, a panel of Baker McKenzie attorneys and senior in-house counsel explored how growing amounts of data lead to more risks for businesses, as well as increased regulation and enforcement.

The panel included Baker McKenzie partners Brian Hengesbaugh, Teresa Michaud and David Callaway.

Here are some key takeaways from the discussion:

  • The security threat landscape is constantly shifting and changing, and new versions of malware continue to appear.
  • The global regulatory landscape is expanding and evolving, impacting businesses across industry sectors and in key jurisdictions around the world. The EU’s General Data Protection Regulation (GDPR) is one example.
  • Consequences of a privacy incident can include government investigations, consumer and employee class actions, shareholder derivative claims, adverse media attention and reputational harm.
  • Every global enterprise should evaluate its global privacy and cybersecurity risks from an advisory, transactional, and crisis management/disputes perspective.

The Big Data Challenge: Privacy, Security and Compliance

As major data breaches continue to make headlines around the world, what do businesses need to know about breach notification and other information privacy and security matters?

Our Doing Business Globally programs in Chicago (Nov. 7) and Dallas (Nov. 9) will discuss this and more big data challenges and opportunities during our Session 1 panel, “The Perfect Storm on Data Privacy and Security: More Data, More Regulation, More Enforcement.”

Panelists include Baker McKenzie lawyers and senior business executives, who will explore what companies are doing to prepare for compliance in this rapidly evolving regulatory landscape.

Teresa Michaud, Baker McKenzie Partner

“We’re witnessing a time of incredible transformation across industry sectors due to the advent of big data, as well as increased understanding among individuals about how much data exists about them and others. As a result we will see an increasingly complex maze of regulations around the world,” said Teresa Michaud, a partner in Baker McKenzie’s San Francisco office who will serve as a panelist. “This panel will discuss the impact of these regulations on multinationals, and offer concrete strategies to help companies respond to regulatory changes and other data privacy risks and issues.”

The panel will focus on several other challenges for data privacy and security:

  • Impact of global regulatory changes in key geographies such as Europe, China and the US
  • Counter-measures you may (and should not) attempt against cyber criminals
  • Responding to data-theft incidents in a way that does not put your company in Congress’s cross-hairs
  • Navigating the data privacy class-action minefield

Register for the program in Chicago and Dallas | Follow DBG on Twitter

Meet DBG Sponsor, ACC Dallas-Fort Worth Chapter

Support for Doing Business Globally in Dallas on Nov. 9 comes from the Association of Corporate Counsel Dallas-Fort Worth Chapter.

With more than 900 members, the growing ACC-DFW Chapter delivers timely and relevant training, development, networking, pro bono and community events to its members and their companies.

The chapter is part of the ACC’s global community with over 40,000 in-house lawyers from more than 10,000 companies in 85 countries.

“Baker McKenzie’s Doing Business Globally program provides a unique opportunity for our members to hear how market leaders are using the digital revolution to gain a competitive advantage and learn strategies to transform their companies’ digital business models,” said David Kilpatrick, President of the ACC Dallas-Fort Worth Chapter and General Counsel at EnvironX Solutions.

To learn more about ACC membership, email membership@acc.com.

Follow the ACC on Twitter │Visit the ACC-DFW Chapter website

Keeping Trade Secrets in the Digital Age

Our Doing Business Globally programs in Chicago (Nov. 7) and Dallas (Nov. 9) will examine how digitalization is impacting trades secrets during our Session II panel on “The Rising Importance of Safeguarding Trade Secrets in the Digital Age.”

Panelists include Baker McKenzie intellectual property lawyers from North America, Europe and Asia, and they will discuss the growing value and vulnerability of trades secrets.

Jay Utley, Baker McKenzie Partner

“In a survey by the Firm earlier this year, we found that while many companies valued the importance of trade secrets, the majority did not have basic procedures in place to protect them,” said Jay Utley, a partner in Baker McKenzie’s Dallas office and DBG panelist. “This session is for multinational corporations interested in learning about best practices for trade secret protection in the US and across the globe.”

Register for the program in Chicago and Dallas | Follow DBG on Twitter

Meet Chicago and Dallas Keynote Speaker Jim Carroll

The keynote speaker at our Doing Business Globally programs in Chicago and Dallas this year is Jim Carroll, a leading global futurist, trends and innovation expert. Over the last 20 years, Jim has shared his insight with more than 2 million people through his onstage presentations. In this video, Jim shares a brief introduction to his work, which has given him a front row seat to the high velocity change that is occurring as disruption takes hold of every industry and organization.

Maximizing Tech and Data in Cross-Border M&A Deals

Our Doing Business Globally programs in Chicago (Nov. 7) and Dallas (Nov. 9) will address how digitalization is changing M&A deals during our Session I panel on “Maximizing Tech and Data in Cross-Border M&A Deals.”

The panel, featuring Baker McKenzie lawyers and senior business executives, will look at navigating regulatory risks when selling online, compliance challenges in direct marketing, managing privacy statements and the impact of social influence marketing.

Roger Bivans, Baker McKenzie Partner

“This panel will discuss technology and data issues arising in modern day M&A transactions, including data privacy and data security, and how these potential legal risks can be managed and mitigated for greater deal value and certainty,” said Roger Bivans, a partner in Baker McKenzie’s Dallas office who will serve as a panelist.

Register for the program in Chicago and Dallas | Follow DBG on Twitter