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Russia introduces tougher fines for violations related to personal data processing
On 12 December 2023, the President of Russia signed a law that increases fines for processing of personal data without the subject’s consent, and introduces new fines for violation of the requirements regulating uploading biometric personal data. For a number of offenses, the amount of the administrative fine can reach up to 1.5 million rubles for a repeated violation. Read in more detail in our legal update.
Certain transactions in intangible assets may require Government Commission clearance
Draft amendments to clause 1 of Presidential Decree No. 81 of 1 March 2022 have been published. The amendments suggest supplementing the decree with a new category of transactions requiring clearance from the Government Commission for Control over Foreign Investment in the Russian Federation, including transactions involving the alienation or pledge of exclusive rights over intellectual property or means of individualisation. Read further in our legal update.
New procedure for allocating shares in the exclusive right to intellectual property
The recently introduced draft law that has just been introduced in the State Duma of the Russian Federation proposes to provide for the possibility of allocating shares in the exclusive right to intellectual property assets and to create a mechanism for the disposal of such shares. These amendments, if enacted, may have a significant impact on the structuring of joint ventures and on the early phases of structuring relationships between the founders of technology companies. They may also affect the structuring of M&A transactions where intellectual property plays a major role.
Important changes to Russian IT laws
On 1 September 2023, the provisions of more than 600 federal laws became effective. Our team has analysed the major regulatory changes in the intellectual property and technology area.
Amendments to the Federal Law “On non-profit organisations”: are there any challenges for software developers and open source?
At the end of summer 2023, amendments to Federal Law
When is a company subject to the GDPR?
The GDPR (General Data Protection Regulation) is an EU regulation on personal data protection. One should bear in mind, however, that the GDPR contains quite broad provisions on its extraterritorial applicability. In our legal update we look at common cases where the GDPR can apply to your business.