On July 21, 2017, following last June’s announcement that the Delaware House of Representatives had passed (with near unanimity) blockchain-related provisions proposing to amend several sections of the Delaware General Corporation Law (DGCL), the Delaware Governor officially signed the legislation into law.

The newly enacted legislation provides, among other things, specific statutory authority for Delaware corporations to use “distributed electronic networks or databases,” aka distributed ledgers or blockchain technology, for the creation and maintenance of corporate records, including the corporations’ stock ledger.[2]

1. The Use of Blockchain Technology for the Creation and Administration of Corporate Records

Section 219(c) of the DGCL provides that a stock ledger of a Delaware corporation is the only evidence of the identity of stockholders of the corporation who are entitled to inspect the list of stockholders and to vote at meetings.

Until now, under current recordkeeping practice, the stock ledger of a corporation could only be created and maintained by a corporate secretary or a corporation’s transfer agent. Often, a stock ledger consists of a capitalization table, i.e., electronically encoded data on a computer program like Microsoft Excel, which is producible in printed form. Continue Reading Delaware Governor Signs Groundbreaking Blockchain Legislation into Law

Dealmakers who responded to a recent Morrison & Foerster survey predicted that the market for M&A transactions in the technology sector will be even more robust in 2017 than it was in 2015 and 2016—years in which acquirers announced deals collectively valued at more than $1 trillion.

Now a report by MoFo’s M&A team leaders and 451 Research shows that Internet of Things-related transactions contributed significantly to the tech M&A market’s impressive numbers over the last few years. For one thing, IoT-related deals announced since 2013 have been valued at $147.3 billion.

For discussions of other IoT-related issues, check out Morrison & Foerster’s IoT Resource Center.

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Buniess hand shake2017 will be an even busier year than 2016 and 2015 for M&A deals in the technology sector, according to more than half of the dealmakers who responded to the semi-annual M&A Leaders Survey conducted by our colleagues at Morrison & Foerster in partnership with 451 Research.

These results are surprising given that there was higher tech M&A spending in 2015 and 2016 than there had been in several years, and there were 12% fewer technology company acquisitions in 2017’s first quarter than there were in Q1 of 2015 or 2016.

What accounts for the dealmakers’ bullish outlook? According to the survey, one key factor appears to be President Trump, with four-out-of-ten (41%) respondents predicting that his future economic policies will stimulate domestic dealmaking.

For other key findings, takeaways, insights and analysis regarding the coming year in tech M&A, check out Morrison & Foerster’s M&A Leaders Survey Results.

10-14-2015 3-48-13 PMThe latest issue of our Socially Aware newsletter is now available here.

In this issue of Socially Aware, our Burton Award-winning guide to the law and business of social media, we highlight five key social media law issues to address with your corporate clients; we discuss when social media posts are discoverable in litigation; we identify six important considerations in drafting legal terms for mobile apps; we take a look at the clash between bankruptcy law and privacy law in RadioShack’s Chapter 11 proceedings; we examine a recent federal district court decision finding “browsewrap” terms of use to be of benefit to a website operator even if not a binding contract; we outline best practices for employers’ use of social media to screen and interact with employees and conduct workplace investigations; we explore a Washington state court’s refusal to unmask an anonymous online reviewer; and we discuss Facebook’s recent update of its “Notes” feature.

All this—plus an infographic illustrating the growing popularity of video on social media.

Read our newsletter.