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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Canada | Publication | April 3, 2020 - 2 PM ET
Under Bill C-13, emergency measures will now be available to Canadians and Canadian businesses.
Bill C-13 received royal assent on March 25 and enacts changes to more than 15 laws, including the Patent Act.
Section 19.4 states the commissioner will have to grant a licence to the Government of Canada or any person specified by the latter for any patented invention, when it is deemed necessary to respond to a public health emergency in the national interest.
Under the current circumstances, the Government of Canada will be able to benefit from innovations that can help combat the spread of COVID-19 and get these new technologies, such as new respiratory masks, quickly to healthcare workers. This authorization to use inventions, when granted, will not constitute an infringement of a patent or registered industrial design. However, the government must pay adequate compensation in the circumstances to the owners of the intellectual property.
One might wonder why in this time of crisis, the government has implemented such an amendment. It may be a safe to assume that some inventions have already been targeted for use. We will keep you posted.
Our technology infrastructure enables our professionals and staff to work remotely for an extended period. As such, we will continue to meet original CIPO deadlines as instructed by clients. The extension, however, provides clients a safety net to help navigate this unprecedented situation.
For more information on the legal implications of COVID-19, please consult our COVID-19 Hub. As a full-service global firm with offices across Canada, Norton Rose Fulbright is closely monitoring this evolving situation over a number of practice areas, including employment and labour, risk advisory, banking and finance, corporate, M&A and securities, and dispute resolution and litigation, and across a variety of industries, including energy, infrastructure, mining and commodities, financial institutions, life sciences and healthcare, technology and innovation, and transport.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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