No matter what part you play in the economy, our blog will provide you with a wealth of up-to-date and interesting articles, resources and checklists from the various areas of law.
The blog’s authors are all partners and employees of our firm, ensuring you benefit not only from the best legal knowledge, but also from examples drawn from their many years of practical experience.
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Ronald Kogens’s practice is focused on disruptive technologies. He advises Swiss and international clients as well as public entities in corporate and technology-related transactions. Ronald Kogens has in-depth knowledge of IP/IT law, in particular licensing of IP-rights, IP-transaction, financial market and contract law. He is an expert in the field of blockchain technology, crypto-currencies and crypto-tokens. He joined Froriep in 2017 as an associate and became partner in July 2019. Before that he worked for a major global consulting firm. He was also part of the legal counsel team of a public listed pharmaceutical company at the headquarters in Switzerland and worked for its subsidiary in the United States. Ronald Kogens graduated in law from the University of Lucerne in 2011 and was admitted to the St. Gallen Bar in 2012. In 2016 he was awarded a Master of Laws (LL.M.) in business law from the Chapman University, California, United States. His working languages are German and English.
Wirecard has proven once again that stellar growth and stunning revenues do not always mean that a company is well-founded. Although the board of directors has responsibilities towards the shareholders and the latter have certain information rights, organisational failure and mismanagement often remain unnoticed until it's too late. Additional corporate governance laying down the fundamentals on management and organisation is therefore vital for long-term success, to ensure that the checks and balances among the stakeholders involved (shareholders, founders, and employees) are appropriate.
The hype around initial coin offerings and new DLT-protocol launches has calmed down. The technology has proven its ability to revolutionise the financial market industry, but also other industries, by serving as an infrastructure where physical and digital assets or financial instruments can be tokenised in rivalrous cryptographic tokens and exchanged in a secure, cost-efficient and reliable manner. The next stage for DLT-technology to enter into full productivity is to have built the surrounding infrastructure, tools and service providers. Trading signals and copy trading are among such additional tools.
The Swiss Financial Market Supervisory Authority FINMA (FINMA) published a supplementary guideline to the ICO guidelines February 16, 2019, where FINMA outlines on how it treats so-called ‘stable coins’ under Swiss financial market law. In addition, FINMA provides an indication on how it will apply the financial market laws to Libra, the crypto project initiated by Facebook.
In this episode Cornelia Mattig of FRORIEP (host) is discussing together with Ozan Polat and Benedikt Schuppli of Dezentrum as well as Ronald Kogens of FRORIEP's DLT (Blockchain) & Fintech practice group the current legal challenges as well as liability and responsibility questions in relation to decentralised systems and projects.
Outsourcing of certain business processes is standard for most companies these days, even for small and mid-size companies. Through outsourcing, business processes within a group of companies can be handled efficiently or access to an advanced IT infrastructure can be made possible. Outsourcing usually involves transferring personal data, such as employee data, customer data or supplier data. The outsourcing provider is a processor, the outsourcing customer is a controller. So far so good. But what if the provider uses the data for its own purposes too? And what if the customer is told what to do by the processor when processing the data? This article explains on which basis the individual roles of controller and processor can be determined taking into account the EU General Data Protection Regulation (GDPR).
In every Initial Token Offering (also known as Initial Coin Offering) we have to strive to create a token which will catch the interest of the community. This first of all requires forethought and an understanding of what is driving the community, but it also needs to focus on creating a sound legal basis for years to come, no matter how often the token has been transferred, be it online or through the transfer of an offline wallet. Token structuring therefore is also a task for the lawyers.
Each one of the many ICOs on which we have advised or are advising have their own peculiarities and different treatment. However, there are some underlying fundamentals which remain the same for tokens of the same token class (see our token framework proposal).
We have decided to share these insights with the community. This article therefore is the start of a series of blog posts with practical insights on specific things to be considered when preparing an Initial Token Offering.
Blockchain technology has become a reality as part of the digitalisation of the economy. Every day, there is proof of disruptive transformations of long-standing mechanisms into new ecosystems on the blockchain. While existing market participants are in many cases overwhelmed by the new normal, the new players operate with the greatest creativity and efficiency.
In this first blog of a series on Blockchain Technology we will look at Initial Token Offerings.
Increasingly start-up companies are using initial token offerings (ITO, also called initial coin offerings or ICO) to raise capital for the funding of the development of products and services. The crypto-tokens are created and disseminated using distributed ledger or blockchain technology.