Sheppard's Nota Bene

When the artist Beeple recently sold a digital work of art for $69 million, it caught the world's attention especially because that one-of-a-kind digital art was a non-fungible token (NFT). In this episode, we're taking a look at this emerging blockchain technology and exploring how NFTs are transforming digital artwork. We're also discussing the legal ramifications of this new type of ownership.

Joining me for this conversation is Jim Gatto. Jim is a partner in the Intellectual Property Practice Group in Sheppard Mullin's Washington, D.C. office. He is also Team Leader of the firm's Blockchain Technology and Digital Assets team, and its Social Media and Games industry team. He also is Team Leader of the firm's Open Source team.

What We Discussed in This Episode:

• What are non-fungible tokens?
• What makes a token "non-fungible"?
• Given the ease of duplication, what makes NFT's so valuable?
• How might the use of NFT's benefit performance artists?
• Will NFT's ever become simple enough for everyday people to utilize them?
• After someone creates an NFT, where are some of the online marketplaces they can list and market it on?
• Are private investors moving into this space?
• How can NFTs be used with physical objects?
• What are the legal implications of creating and/or buying NFTs?

Contact Information:

Jim's Sheppard Mullin attorney profile

Email: [email protected]

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

This episode was originally published on February 2, 2021 as Episode 111.

Music royalty investments have become a big global business. For investors looking for a growing industry to tap into, the music royalty market might be it. Will a flood in investment funds impact the music business overall? We're exploring how the recent flurry of investment money into this market will continue to impact the industry.

Joining me for this conversation is Sid Fohrman. Sid is a partner in Sheppard Mullin's acclaimed Entertainment and Digital Media Practice Group and Leader of the firm's Music Industry Team, and Leader of the firm's Esports Industry Team. Sid represents a diverse client base comprised of public and private companies, on and off-screen talent, artists, influencers, and entrepreneurs across the full spectrum of the entertainment industry, including, music, esports, fitness, sports, technology, event, film and television industries.

What We Discussed in This Episode:

• What rights are included in any royalty deal?
• Why is the royalty investment market so hot right now?
• How is music streaming affecting royalty investment?
• Why are music royalties a smart investment for savvy investors?
• Are these types of investments more appealing and safer than other types of traditional investments like bonds?
• Is there potential for a flood of big investment money to impact the music business in general?
• Why is music publishing an appealing investment?
• How are catalogs valued?
• What other factors are driving the explosion in music royalty investments?
• Will newer artists see investment money come their way?
• Will there be an increase in multinational investments in U.S. music copyrights?

Contact Information:

Sid's Sheppard Mullin attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

Joining me this week for the podcast quarterly check in with Europe is International Competition specialist Oliver Heinisch from London. Oliver shares the latest updates from the continent, including insight on Brexit, European merger controls, and the adequacy of GDPR enforcement.

Oliver is a partner in the Antitrust and Competition Practice Group in Sheppard Mullin's London and Brussels offices. Oliver advises on all areas of EU, UK and German competition law with a focus on international cartel and abuse of dominance procedures including related antitrust litigation matters as well as merger control law. He also regularly advises clients on questions relating to the UK's decision to leave the European Union.

What We Discussed in This Episode:

• What is the latest with Brexit and the Trade and Cooperation Agreement?
• What is happening in Northern Ireland vis-à-vis Brexit?
• How is the relationship between the UK and the European Union (EU) developing?
• What has the EU decided in regard to the UK's adequacy of data protection?
• What type of guidance has the EU Commission issued regarding merger transactions?
• How will merger controls be handled going forward?
• Is there potential for blind overregulation of digital markets?
• Is there underenforcement of the GDPR?
• What does Europe have to do to kickstart its economy as it emerges from the pandemic?

Contact Information:

Oliver's Sheppard Mullin attorney profile

[email protected]

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

Africa continues to strive for economic growth through various means such as trade partnerships and foreign investments. However, long-standing challenges remain an impediment in certain respects. Is Twitter's decision to open an African base in Ghana any indication of the continent's economic potential? We're joined by Africa competition and markets expert, Andreas Stargard, as he shares insights on Africa's economic outlook in Q2 of 2021.

A co-founding senior member of Primerio, a business advisory firm helping companies do business within Africa from a global perspective. Andreas Stargard is legal, strategic, and business advisor to companies and individuals across the globe. He focuses on antitrust and competition advice, white-collar counseling, contract dispute and negotiation, and resolution of global business disputes, including cartel work, corruption allegations and internal investigations, intellectual property, and distribution matters. He has written and spoken extensively on these topics and many others. Andreas also advises clients on corporate compliance programmes that conform to local as well as global government standards, and has handled key strategic merger-notification questions, including evaluation of filing requirements, avoidance strategies, cross-jurisdictional cooperation, and the like.

What We Discussed in This Episode:

• Is there opportunity for cooperation between the U.S., Europe, and China on global health issues? How would that cooperation impact African countries?
• What new memorandum of understanding did the African Continental Free Trade Area (AfCFTA) and Common Market for Eastern and Southern Africa (Comesa) enter into and what does it mean?
• Who is trying to invest in Africa to help address the severely degraded agricultural situation and food supply?
• Can there ever be true independence from hegemons? What is likely to result among the various African countries?
• If there is a rush to cooperation, affiliation, and investment in African economies, which countries are likely to make those moves?
• Why did Twitter choose Ghana over Nigeria as the location for its Africa base?

Contact Information:

Africa Antitrust & Competition News and Analysis

Primerio website

Andreas's biography

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

The U.S. government will have its hands full in the second quarter of 2021. From President Biden's recently unveiled $2 trillion dollar infrastructure plan meant to rebuild and reshape the economy to Congressional regulation of Big Tech companies, we're joined by U.S. government experts and lobbyists Elizabeth Frazee and Chani Wiggins to discuss some of the Federal, legislative, and judicial issues on the agenda.

Elizabeth Frazee is the Co-Founder and CEO of Twin Logic Strategies, a boutique government relations firm. Elizabeth was named a "Top Lobbyist" by The Hill newspaper and has a 30-year career in Washington that encompasses over a decade working in high-level jobs on Capitol Hill, executive experience at leading tech and entertainment companies and years of successful representation of companies, trade associations and non-profits as a policy advocate and political strategist.

Chani Wiggins has leveraged 16 years of federal government experience to assist clients with various policy interests in Congress and within the Administration. Since September 2010, Chani has represented clients with priorities in national security, telecommunications and technology, and energy policies. She also serves as a strategic advisor for the Government & Technology Services Coalition (GTSC), an organization of small and mid-sized company executives that develop and implement solutions for the federal homeland and national security sector.

What We Discussed in This Episode:

• What is the Biden Administration hoping to accomplish with the proposed infrastructure package?
• Where will the money to fund this trillion-dollar infrastructure plan come from?
• How necessary are the suggested provisions in Biden's plan? Are some provisions too far-reaching?
• What hesitations do Republicans have regarding this package?
• Which industries stand to benefit from the infrastructure plan?
• What are some recent developments in Congress regarding the regulation of big tech platforms?
• Why is Congress considering passing legislation to regulate Big Tech companies as opposed to relying on enforcement of well-established laws?

Contact Information:

TwinLogic Strategies website

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

As the world emerges from the global economic shut down that occurred in 2020 due to the pandemic, many multinational companies are facing production issues and supply shortages. The challenge, in 2021, will be for companies to strengthen their supply chains and explore domestic manufacturing alternatives. Joining me for this conversation is Seoul, Korea-based attorney and Asia markets expert, Paul Kim, to explore these supply chain challenges and new economic opportunities in Q2.

Paul Kim graduated in Economics from the University of Chicago, with highest honors, and obtained his Juris Doctorate degree from Harvard University. Paul currently serves in private practice as a Corporate Partner in Sheppard Mullin's Seoul office advising clients on cross-border mergers and acquisitions (M&A), private equity, venture capital and securities transactions, restructurings and multi-jurisdictional disputes.

What We Discussed in This Episode:

• How has the increased demand for certain goods like computer chips, driven by the pandemic, affecting the manufacturing and shipping industries?
• How much of an impact did the recent blockage of the container ship in the Suez Canal have on the flow of shipments worldwide?
• Which industries are currently experiencing supply shortages and why?
• Will these supply chain issues around the world likely lead to a redirection of production locations?
• Will there be an increase in domestic and regional production reliance?
• Is there room for greater collaboration and integration between Asian and Western countries in the future?

Contact Information:

Email: [email protected]

Paul's Sheppard Mullin attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

2020 brought about rapid change in the American healthcare industry. Many hospitals and healthcare providers are turning to mergers as a means of providing improved health services to the population at scale. These consolidations, however, do not occur without setting off antitrust alarms. In this episode, we're exploring the current state of the U.S. healthcare system and the application of antitrust regulation in this space.

Joining me for this conversation is John D. Carroll. John is a partner in the Antitrust & Competition Practice Group in the Sheppard Mullin Washington, D.C. office. John's practice focuses on civil and criminal antitrust matters, including mergers & acquisitions, strategic counseling and compliance, and global cartel investigations, where he represents clients before the Department of Justice Antitrust Division, Federal Trade Commission, and international and state antitrust enforcement authorities.

What We Discussed in This Episode:

• In what way was the revenue of American healthcare providers impacted in 2020?
• Despite the non-profit status of many hospitals, how might these entities trigger antitrust regulation?
• What is required in order to provide healthcare across a population of people?
• What is value-based care?
• How do hospital consolidations affect commercial payors (insurance companies)?
• What must the Federal Trade Commission present when bringing an antitrust case against an insurance company?
• What type of joint venture relationships, both traditional and non-traditional, are developing between various healthcare providers?

Resources Mentioned:

In the Matter of Thomas Jefferson University

Contact Information:

John's Sheppard Mullin attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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Sheppard Mullin website

This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

The U.S.-China relationship continues to be a contentious one. Tensions over trade, technologies like 5G networks, and other issues flared over the past few years. What changes to international relations, if any, can the new presidential administration bring about, and what policies from the former administration will have lasting implications?

Joining me for this discussion are attorneys and global commerce specialists, Scott Maberry and Reid Whitten.

Scott Maberry is an International Trade partner in the Government Contracts, Investigations & International Trade Practice Group in the Sheppard Mullin Washington, D.C. office. Scott counsels clients and litigates disputes in the areas of export controls, the Foreign Corrupt Practices Act (FCPA), anti-terrorism, economic sanctions, anti-boycott controls, anti-money laundering (AML), the Foreign Agents Registration Act (FARA), trade remedies including antidumping and countervailing duty (AD/CVD) matters, and Customs.

Reid Whitten is the Managing Partner of Sheppard Mullin's London office, practicing in international trade regulations and investigations. He shares his time serving clients out of the Washington, D.C. office. He is also Leader of the Sheppard Mullin CFIUS Team. Reid is a thought leader on cross-border business regulations. Reid is an Adjunct Professor at the New College of the Humanities in London and at Wake Forest University in the U.S., where he teaches courses on the law of international business. He is the lead author and editor of The CFIUS Book and is the head of the firm's CFIUS Team.

What We Discussed in This Episode:

• How did the Trump Administration's international trade policies shape the relationship between China and the U.S. today?
• What major changes in export controls began under the former administration?
• What lessons can be learned from the Federal lawsuits involving WeChat and TikTok?
• How can the U.S. get out of an economic war with China?
• What might be the impact of China's blocking statutes and their attempt to subvert U.S. sanctions?
• What capacity do China and the U.S. each have to navigate the fight for economic preeminence and potentially reach a resolution?
• What labor rights provisions are included in the U.S.-Canada-Mexico agreement and how do those provisions affect the relationship between the three countries?
• What trends can be seen in foreign direct investment?

Contact Information:

Scott's Sheppard Mullin attorney profile

Reid's Sheppard Mullin attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

From due diligence to post-acquisition, there are various labor and employment issues that businesses should pay attention to in order to ensure smooth corporate transactions and integrations. Employee classifications and trade secret protections are two of several issues we explore in this episode with labor and employment law experts Kevin Cloutier and Shawn Fabian.

Kevin Cloutier is a partner in the Labor and Employment and Business Trial Practice Groups at Sheppard Mullin. He is the Leader of the Firm's Non-Compete and Trade Secrets Teams. Kevin is a member of the Firm's Diversity and Inclusion and Compensation Committees and acts as the hiring partner for the Firm's Chicago office. Kevin's national practice focuses on all areas of labor and employment law and business litigation, with an emphasis on high-stakes, employment-related litigation and proactive investigations and counseling of management-side clients.

Shawn Fabian is a partner in the Labor and Employment Practice Group in the Sheppard Mullin Chicago and New York offices. Shawn works closely with the firm's Corporate Practice Group on mergers and acquisitions to evaluate the labor and employment liabilities associated with a specific transaction; develop pragmatic, business-oriented solutions to issues that arise during the course of fast-paced transactions; and structure sophisticated executive employment, separation and retention bonus agreements in connection with such transactions.

What We Discussed in This Episode:

• What do corporate leadership teams need to know about labor and employment in the context of corporate transactions?
• Why employee classification is an important item on the due diligence checklist during an acquisition?
• How can the structure of an acquisition (asset vs. stock) protect against future liabilities?
• Why is it important to assess the potential liability of employees and their successors?
• How are a company's trade secrets best protected during corporate transactions?
• What are the various types of agreements needed?
• Can due diligence uncover issues that could affect the price of the transaction?
• What labor and employment discoveries made during the due diligence phase could affect transaction insurance?
• Why is it important to pay attention to the language of purchase agreements?

Contact Information:

Kevin's Sheppard Mullin attorney profile

Shawn's Sheppard Mulling attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

The U.S. Senate has introduced legislation that presents dramatic changes to the current state of U.S. antitrust law, driven by the assumption that Big Tech as it has evolved currently constitutes a series of defined market monopolies. But the Economist recently questions whether that assumption should be reconsidered given the rise in shares of second and third firms in these markets over the past five years. Adding to any reconsiderations is the intensifying and game-changing competition among the Big Tech industries and the abundance of Big Tech newcomers which poses the question of whether the current market structure is really one of hyper-competitive Big Tech oligopolies rather than monopolies.

In this context, Tom and Bill join me in discussing the question of whether America's 125 year old competition policy, developed through common law applied to actual controversies sorting the American experience, isn't the more appropriate enforcement mechanism to apply in the American marketplace. We assess the current adequacy of those laws to address Big Tech concerns, the political source of those concerns, the legitimacy of those concerns, and the impacts of the antitrust reforms the American Congress has presently proposed.

Thomas Dillickrath is an Antitrust & Competition partner in Sheppard Mullin's Washington, D.C. office, focusing on antitrust litigation and merger investigations. Prior to joining the firm, he served as Deputy Chief Trial Counsel at the Federal Trade Commission's Bureau of Competition. During his time at the FTC, Tom litigated antitrust cases brought by the FTC involving mergers and acquisitions and other business practices affecting U.S. consumers.

Bill Margeson is an associate in the Antitrust and Competition Practice Group in Sheppard Mullin's Washington, D.C. office. Bill has litigated antitrust, intellectual property, and other disputes in federal and state court and in the International Trade Commission under Section 337. Bill also has criminal litigation experience, including in grand jury investigations related to price fixing and fraud. Prior to law school, Bill worked in the public policy field.

What We Discussed in This Episode:

• Are the courts the most qualified to deal with the unique developments in antitrust laws in the U.S.?
• How are current economic, social, and political climates affecting antitrust laws?
• Is the notion that "big is bad" a belief held by both governmental parties?
• How should monopolies be dealt with? Should the government regulate? Should any type of regulation be industry specific?
• What new rules is the American Congress attempting to impose in this area?
• What is Senator Klobuchar's antitrust bill proposing? How will it affect competition if passed?
• Has the Supreme Court completely abandoned the application of the essential facilities doctrine?

Resources Mentioned:

The Curse of Bigness: Antitrust in the New Gilded Age by Tim Wu

Goliath: The 100-Year War Between Monopoly Power and Democracy by Matt Stoller

Monopolies Suck: 7 Ways Big Corporations Rule Your Life and How to Take Back Control by Sally Hubbard

Verizon Communications, Inc. v. Law Offices of Curtis Trinco, LLP

Contact Information:

Tom's Sheppard Mullin attorney profile

Bill's Sheppard Mullin attorney profile

Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Stitcher Radio, Google Podcasts, or Spotify. It helps other listeners find this show.

Be sure to connect with us and reach out with any questions/concerns:

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Sheppard Mullin website

This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.