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Generative AI: A global guide to key IP considerations
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Global | Publication | January 2018
International Financial Reporting Standard 16 is a new accounting standard for leases which will have a major impact on the balance sheets of companies with leased assets. The standard is global in application and applies from 1 January 2019, but its implications are such that it should be considered well ahead of that date.
With some limited exceptions, the new standard requires that all leases are recorded on a tenant’s balance sheet as a “right-of-use” asset and a lease liability. These include leases of commercial property previously accounted for off-balance sheet - in future the rent due for the entire lease term will appear as a balance sheet liability.This could result in a significant increase in on-balance sheet liabilities which, in turn, may affect compliance with financial covenants and undertakings in facility agreements and other finance documents.
Although primarily an accounting issue, IFRS 16 may impact upon the structure of lease transactions. For example the changes may result in tenants seeking to limit the impact on their balance sheet by pushing for shorter leases.
For further information please contact Sian Skerratt-Williams or your usual contact at Norton Rose Fulbright.
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Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
The UK remains a world leader in offshore wind, accounting for roughly 20 percent of global offshore wind capacity, with 11.3 GW operational. It is forecast that installed capacity will rise to 19.5 GW by mid 2020s.
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On 21 May 2024, the European Council (or Council) adopted the so-called ‘Hydrogen and decarbonised gas market package’ (the Gas Package). The package contains a recast of the 715/2009 gas regulation (Gas Regulation) and a recast of the 2009/73 gas directive (Gas Directive) aimed at reforming the existing EU regulatory framework to support the deployment of renewable and low-carbon gases, in particular hydrogen. As such, it represents a major development in the EU gas market.
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