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"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."

Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru

A trial in the copyright infringement case had been set to begin on Monday. YouTube and Schneider agreed to end the case with prejudice, which means it cannot be refiled. YouTube denied the allegations and said it goes "above and beyond" to protect copyrights. In a win for YouTube, U.S. District Judge James Donato last month refused to certify the lawsuit as a class action. The case is Schneider v. YouTube LLC, U.S. District Court for the Northern District of California, No.

Persons: Maria Schneider, Schneider's, Schneider, District Judge James Donato, Joshua Schiller, Philip Korologos, Boies Schiller, George Zelcs, Stephen Tillery, David Kramer, Wilson Sonsini Goodrich, Rosati Read, Blake Brittain Organizations: YouTube, Schneider's San, District, Northern, Northern District of, Thomson Locations: Schneider's San Francisco, infringers, U.S, Northern District, Northern District of California, Washington

Economic challenges and geopolitical tensions have made fundraising and investment difficult, and eaten into global venture funds' returns. "It has become increasingly complex to run a decentralized global investment business," Sequoia said in the statement. Sequoia China will retain its current Chinese name and adopt the name HongShan in English, while Sequoia India and Southeast Asia will become Peak XV Partners, the firm said. Sequoia started to invest in local companies in China, India and Southeast Asia more than 15 years ago, according to the statement. Sequoia China, founded and led by former entrepreneur and investment banker Shen, has invested in more than 1,200 companies in sectors ranging from technology to healthcare.

Persons: Sequoia, Roelof Botha, Neil Shen, Shailendra Singh, Shen, Biden, Weiheng Chen, Wilson, Steven Yu, Yu, Trump, we've, Singh, Oyo, Kane Wu, Julie Zhu, Sriram, Roxanne Liu, Krystal Hu, Bernadette Baum, Mark Potter, Paul Simao Organizations: Sequoia Capital, Economic, Investment, Sequoia, XV Partners, HK, PDD Holdings, Reuters, Global Law, China -, Thomson Locations: HONG KONG, China, India, Southeast Asia, COVID, Sequoia China, Sequoia India, Shanghai, U.S, China - U.S, Hong Kong, Mumbai, Beijing, San Francisco

☆ Fox News' lawyers send cease and desist to stop Media Matters from publishing leaked videos of Tucker Carlson's comments
▼ + stars: | 2023-05-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

Fox News' lawyers sent a cease and desist letter to Media Matters over coverage of Tucker Carlson. The letter demands Media Matters stop publishing behind-the-scenes videos of Carlson. Media Matters has shared videos of Carlson making sexist remarks and complaining about Fox. Fox News' lawyers have sent a cease and desist letter to Media Matters for America over its publication of leaked videos showing Tucker Carlson making offensive and embarrassing comments off-air. In other videos, Carlson complained that "nobody watches Fox Nation because the site sucks" and said he'd rather put his interviews on YouTube than on Fox's site.

☆ Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban
▼ + stars: | 2023-03-23 | by ( Rohan Goswami | ) www.cnbc.com time to read: +18 min

The messages CNBC reviewed come from accounts identified as Binance employees or Binance-trained volunteers known as "Angels." Whatever the method, Binance's Chinese users take on a significant risk: In China, crypto exchanges have been outlawed since 2017, while crypto itself was outlawed in 2021. But Chinese customers have continued to seek ways to trade on Binance, which include using instructions provided by employees and volunteers. "'Binance does not offer a 'Binance Chinese Android app," a spokesperson said. In addition, hours after Binance responded to CNBC, messages apeared on Twitter suggesting that some customers' Binance debit cards had been frozen.

☆ Google stacks its legal team with former DOJ employees as it faces antitrust cases
▼ + stars: | 2023-03-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +13 min

Former DOJ employees make up both its in-house team and members of outside counsel firms it employs. Google also uses four different outside counsel firms loaded with nearly 20 former DOJ officials, many of whom worked in the Antitrust Division at various times. The DOJ made the accusation in a legal filing after Epic Games raised the concern in its own antitrust litigation against Google. Those firms collectively have around 20 former DOJ employees on their staff, many of them working in antitrust. For example, DOJ antitrust chief Jonathan Kanter previously worked for clients including Microsoft and Yelp which have complained of Google's allegedly anticompetitive behavior.

☆ Meet the top 8 lawyers helping startups patent artificial intelligence and comply with rules on privacy and safety
▼ + stars: | 2023-02-28 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

AI startups must secure patents and manage concerns about bias, safety, and security risks. Artificial-intelligence startups are continuing to draw venture-capital support, pulling in some $72 billion in 2022, according to data from PitchBook. For one thing, AI poses questions around the kind of privacy and safety issues that can be subject to regulation and government oversight. Meanwhile, novel uses of AI technology have already brought unusual legal questions up to the courts. That kind of work also often leads to more work for regulatory, litigation and other attorneys with expertise in AI technology, who can advise on procurement contracts, risks involving software, and cybersecurity.

☆ China publishes rules to revive offshore listings
▼ + stars: | 2023-02-18 | by ( ) www.cnbc.com time to read: +3 min

China's securities watchdog published rules on Friday to regulate offshore listings, reviving foreign initial public offerings (IPOs) by Chinese firms after a regulatory freeze imposed in July 2021. Daniel Tu Active Creation CapitalUnder its new filing system, which effectively ends decades of unregulated overseas IPOs by Chinese companies, the CSRC will vet offshore listings. Friday's rules, amending a December draft, stipulate that overseas listings should not jeopardize China's national interests. Chinese offshore listings ground to a halt after Didi Global Inc's New York listing in June 2021 that triggered Beijing's regulatory backlash over data security concerns. China's tech crackdown also contributed to a near freeze in overseas listings by Chinese companies.

Google said the new DOJ case, filed jointly with eight states last month, which also alleges advertising-related abuses, overlaps with multidistrict litigation in New York that formed in 2021. Google has disputed the claims in the new lawsuit, saying it "duplicates an unfounded" one that Texas filed and now is part of the New York litigation. "They just want DOJ versus Google, nobody else," Vladeck said. Fox also said there is a new federal law that gives state plaintiffs their preference for venue in antitrust litigation. The case is In re Google Digital Advertising Antitrust Litigation, U.S. District Court, Southern District of New York, 1:21-md-03010-PKC.

☆ Chinese billionaire Jack Ma to relinquish control of Ant Group
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Jan 7 (Reuters) - Ant Group's founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights, the group said on Saturday. This trend will continue the erosion of the most productive parts of the Chinese economy. DUNCAN CLARK, CHAIRMAN OF INVESTMENT ADVISORY FIRM BDA, BEIJING:"Yes, it's obviously significant if he is no longer the controlling shareholder. This in theory should pave the way for an IPO assuming the other key issue - oversight/ownership of data - is also resolved. At least Ant investors can (now) have some timetable for an exit after a long period of uncertainty."

☆ 'Fearless' Special Counsel Jack Smith arrives in Washington to lead Trump probes
▼ + stars: | 2023-01-04 | by ( Sarah N. Lynch | ) www.reuters.com time to read: +5 min

Attorney General Merrick Garland appointed Smith in November to take over two investigations involving Trump, who is running for president in 2024. Grand juries in Washington have been hearing testimony in recent months for both investigations from many former top Trump administration officials. In 1999, Smith started working at the U.S. Attorney's Office in Brooklyn. In 2008, Smith left to supervise war crime prosecutions at the International Criminal Court in The Hague. Smith is also known for being expeditious, and Fodeman predicted the special counsel's investigations involving Trump will probably move swiftly.

Representatives for Impossible Foods did not immediately respond to a request for comment on the decision. Redwood City, California-based Impossible Foods sued Motif, a Boston-based spinoff of biotech company Ginkgo Bioworks, in March. The court agreed with Impossible Foods that Hemami could still infringe the patents and allowed the claims to continue. Impossible Foods' patents may cover Hemami because it is produced using yeast and does not have any "direct animal provenance," Bryson said. The case is Impossible Foods Inc v. Motif Foodworks Inc, U.S. District Court for the District of Delaware, No.

☆ I quit a $200,000 Silicon Valley law job because it wasn't worth the toll on my mental health. Here's why I have no regrets.
▼ + stars: | 2022-10-06 | by ( Nada Shalash | ) www.businessinsider.com time to read: +6 min

Julian Sarafian, a young graduate of UC Berkley and Harvard Law School, was an ideal law candidate. He said he'd ignored symptoms of worsening mental health during his studies and focused on success. After three years at a Silicon Valley law firm, Sarafian quit and became a mental health advocate. I was a high-school valedictorian, received my undergraduate degree from UC Berkeley in just three years, and graduated from Harvard Law School at 24. I decided to start my law firm — For Creators, By Creators PC — in May 2022 and represent content creators and influencers.

Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. "I'll guess we'll just cancel this deposition," Baron responded. Twitter declined to comment and Musk's legal team did not immediately respond to a request for comment. The Twitter deposition atmosphere could be especially fraught. Tripp's attorney reminded Musk that the judge warned he would oversee the deposition in person if questions weren't answered properly.

☆ Startups are being squeezed as VCs seek an old dot-com-era clause to sell back their shares, according to a deals lawyer
▼ + stars: | 2022-09-21 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

Venture capitalists are now attaching "redemption rights" to their investment offers. Signing off on these terms can put stress on startups to raise more funds or find a buyer before an investor's redemption rights set in. But as the private markets boomed, power shifted from investors to founders, and venture firms stopped seeking redemption rights. It seems redemption rights are now back on the table with the ongoing uncertainty in the private markets. As for redemption rights, Kirby tells investors it's not in their best interest to get that term.

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