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The AI Act is adopted, what to do now?
On March 13th the EU Parliament adopted the AI Act, marking a significant milestone in shaping the region's AI landscape. The Act will be published in the Official Journal of the European Union, and 20 days after publication, the AI Act will enter into force. Although it will take two full years until the grace period passes and almost all provisions will be applicable, AI providers should be aware of the detailed schedule of applicability. In addition, as the AI Act has extraterritorial scope, it does not only concern the 27 Member States of the European Union, but any AI provider worldwide whose AI systems are placed on the market or put into service in the EU. The first deadline expires in six months, as the rules
Slovakia – Choice of jurisdiction in purely national relationships resolved
In its decision of 8 February 2024 (C 566/22), the Court of Justice of the European Union (the ECJ) has finally resolved the long-term practical question (and debate among legal practitioners) whether, in the case of a purely national relationship without the presence of a foreign element or link to several legal orders, contracting parties may choose the jurisdiction of the judicial authorities of any EU Member State. The response is YES. This landmark decision is a clear affirmation of the parties’ autonomy to determine the jurisdiction of the judicial authorities. Simply put, if two Slovak entities enter into an agreement under Slovak law without a link to another Member State or non-Member State, the parties are not
EUIPO offers SMEs trade mark and design grants of up to EUR 1,350 again in 2024, available also for Ukrainian SMEs
The European Commission and European Intellectual Property Office (“EUIPO”) have once again launched a small and medium-sized business fund (“SME Fund”) to provide reimbursement for trade mark and design application fees and pre-diagnostic services. The 2024 SME Fund is the third and last call of this initiative, following the 2022 and 2023 SME Funds. The grant scheme, designed to encourage SMEs to expand their intellectual property (“IP”) portfolios, has a budget of more than EUR 21 million, available on a first-come, first-serve basis. The submission period for applications runs from 22 January to 6 December 2024. Read more in the brochure below: DOWNLOAD IN ENGLISH In case of
Update: ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
With the 6 July 2024 deadline for the implementation of the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD”) looming, Member States across the EU have been moving at different speeds to adopt their respective local implementing legislation. Our second status update on the CSRD implementation in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia is available here. At the time of writing, three of the six countries in Central and Eastern Europe that we have been following – the Czech Republic, Hungary and Romania – have already adopted legislative acts that, at least partially, implement the CSRD into national legislation. Slovakia has brought a draft act to parliament
Provisional agreement reached on the Ecodesign Regulation and its impact on the fashion sector
As of 5 December 2023, the Council and European Parliament reached a provisional political agreement regarding a „Regulation establishing a Framework for setting ecodesign requirements for sustainable products“. The upcoming EU sustainability legislation is crucial as it affects a substantial part of the Consumer & Retail sector. It is of particular importance in the field of fashion and luxury industry as the points which the provisional agreement addresses have been among the hot topics of recent years in this sector. As we are closely monitoring the legislation process, click here or on the image below to explore the overview of key points of the adopted provisional agreement.
Kinstellar appoints new Sector and Service Line Heads and Head of German Desk
Kinstellar supports professional growth by offering a broad range of career development opportunities for our team, including the role of sector/service line head or co-head. We provide growth opportunities to all of our talented lawyers with the relevant experience and an outstanding track record. We are delighted to announce the following appointments: Csilla Andrékó, Partner in our Budapest office, is the Co-Head of the firm-wide Banking & Finance Service Line. Csilla is one of the founders of the Firm and the former Managing Partner of the Budapest office. Csilla also served as the head of the regional Banking & Finance and Restructuring & Insolvency Service Lines. She retired from active practice
Cannabis use: CEE regulatory update
Significant changes in the regulation of cannabis use have occurred in some countries in Central and Eastern Europe since our last report. In addition to a number of countries gradually legalising the use of cannabis for medical purposes, increasing efforts by some countries are being seen to also legalise the use of cannabis for recreational use, as well as the use of other products containing various cannabinoids, most importantly cannabidiol (CBD). Click here to read a summary of recent changes related to the national regulation of this rapidly growing sector across Central and Eastern Europe. For any other details or information, please contact Tomáš Čihula, Partner. Contributors:
Workforce restructuring in Central, Eastern and South-Eastern Europe
Recent economic and regulatory trends such as high inflation rates and the need to transition to a green economy have pressured employers to consider cost cutting measures. Organisations have various responses with many taking steps to reduce labour costs and/or reallocate resources which may lead to recruitment freezes or even redundancies. These measures come with their legal risks which are greater in some jurisdictions over others. Although EU legislation sets certain minimum standards for termination of employment and mass lay-offs across all EU Member States, local rules vary widely in terms of timing, costs, employee protection, and litigation risks. In some cases, upskilling or reskilling of employees could be an
Kinstellar appoints new Employment & Labour Law Service Line Co-Heads
Kinstellar is delighted to announce the appointment of Dániel Péter (Managing Associate, Budapest) and Cătălin Roman (Senior Associate, Bucharest) as Co-Heads of the firm-wide Employment & Labour law service line. Dániel and Cătălin will support Nina Tsifudina, Partner in our Sofia office and firm-wide Head of Employment & Labour law, on the development of this increasingly important service line. Both Dániel and Cătălin bring extensive experience and a proven track record in employment law, making them well suited to lead the practice and navigate the complexities of this ever-evolving field. Dániel Péter heads the Employment & Labour Law service line in the Budapest office. Dániel
Kinstellar launches comprehensive FDI screening service to help clients navigate the regulatory landscape
Kinstellar is delighted to announce the launch of its comprehensive Foreign Direct Investment (FDI) screening service. As the regulatory landscape around FDI continues to evolve, Kinstellar recognises the critical importance of helping clients navigate this complex area. Our team of cross-practice experts has deep understanding of the various regulatory frameworks governing FDI screening across different jurisdictions. We help our clients assess the potential risks and opportunities associated with foreign investment and develop strategies to ensure compliance with applicable laws and regulations. The new service includes comprehensive FDI screening and due diligence; assistance with FDI screening filings and communicating
Impact of intellectual property on M&A transactions in Bulgaria and beyond
Unlocking the value of intellectual property (IP) Hardly anyone could argue against the constantly increasing importance of IP to companies. IP not only affects the business models of companies but also brings additional value to the table (e.g., in addition to its client list and personnel, a target offers proprietary software solutions facilitating and supplementing the company’s normal business activities). This is true not only for the “usual suspects” such as technology companies, FinTech startups, gaming studios, and pharmaceutical companies, but also for companies previously not so heavily dependent on IP assets, such as financial institutions, insurance companies, and retailers. Because of the above, in recent years
EUIPO offers SMEs trade mark and design grants of up to EUR 1,350
The European Commission and European Intellectual Property Office (“EUIPO”) have launched a small and medium sized business fund (SME Fund) to provide reimbursement for trademark and design application fees and pre diagnostic services. The grant scheme, designed to encourage SMEs to expand their IP portfolios, has a budget of EUR 25 million, available on a first come, first serve basis. The submission period for applications runs from 23 January to 8 December 2023. Read more in the brochure below: Download in English: In case of any questions with respect to the above, our specialists