In 2023, many companies are looking to anticipate the issues that should shape the coming years. In our industry outlook, “Trends and pitfalls that will shape 2023,” our advocates provide a high-level overview of what lies ahead in various global industry sectors, highlighting some of the key technology trends and regulatory developments. global.
- Unified Patent Court of the EU: The long-awaited launch of the Unified Patent Court of the EU is scheduled for June, which will usher in a new era of patent litigation in Europe by resolving disputes in almost two dozen EU countries EU in a single procedure.
- United States FTC Enforcement Law: The Federal Trade Commission (FTC), in its enforcement work, is increasingly detailed about what it expects of companies in the area of privacy and data security. Recent examples have included using multi-factor authentication, destroying unnecessary personal data, and limiting future data collection and retention.
- UK digital markets, competition and consumer bills: The UK’s Digital Markets, Competition and Consumer Affairs Bill, due in Parliament in 2023, provides for a special merger control regime that will apply to companies designated as having Strategic Market Status (SMS) by the Digital Markets Unit (DMU) within the Competition and Markets Authority. The bill is also expected to introduce certain amendments to the general merger control regime under the Companies Act 2002.
- List of specialized technology companies in Hong Kong: The Hong Kong Stock Exchange (HKEx) has released its highly anticipated consultation paper on the establishment of a listing regime for Specialized Technology Companies (STCs) under proposed Chapter 18C of HKEx’s listing rules. The new listing regime, which is expected to launch in the first half of 2023, relaxes existing earnings and business registration requirements under STC listing rules, and is expected to facilitate a number of large emerging tech companies and innovations with high growth potential. to be listed on the HKEx.
For more information on 2023’s technology trends, including an overview of artificial intelligence and the metaverse, please see “Trends and pitfalls that will shape 2023”.