Rapid advances in artificial intelligence (AI) and machine learning are transforming the way companies operate. No industry is exempt from the benefits of progress in this field, but to succeed businesses need seasoned counsel who can seize opportunities while understanding the strategic and legal implications for today and tomorrow.
Our team regularly collaborates with businesses that are developing or deploying natural language processing, logical inferencing, artificial neural networks, machine perception, and other cutting edge technologies. From startups to multinationals, we advise clients across four key pillars: transactions, intellectual property, regulation, and cybersecurity and data privacy.
Drawing on decades of experience with innovative technologies, we are committed to the growth of the community and often serve as connectors for clients, helping them engage with service providers and funding sources. Clients range from early-stage startups in search of seed funding to large corporations gaining a competitive edge by acquiring promising AI-focused businesses. We also have very deep relationships with more than 300 AI-focused private equity and venture capital firms. Our services include a wide range of transactions, including, mergers, acquisitions, spin-offs, fundraising, critical licensing agreements, collaboration deals, and advising on ownership concerns, and other matters.
Innovation in AI is largely protected through intellectual property (IP) law. With one of the largest IP practices in the country, our team closely monitors business, technology, and legal trends to develop comprehensive, enforceable patent portfolios and advise clients on trademarks, copyrights, trade secrets, and the strategic structuring of licensing and collaboration agreements involving data ownership and use issues, among other matters. Our attorneys include former engineers, data scientists, and AI researchers, and have experience in creating, utilizing, and protecting innovations in the field. Software and AI patentability is a difficult and constantly shifting legal environment, and Foley has the experience and knowledge to achieve meaningful IP protection for your enterprise.
Regulation is another area being largely outpaced by AI’s rapid development. With no comprehensive federal legislation in the United States, governments at various levels are exploring potential regulatory and non-regulatory approaches to oversight. For example, the U.S. Department of Commerce has determined that certain existing AI technologies are subject to export controls and will require a license, which has ramifications for any U.S. businesses that possess these technologies seeking foreign investment or sale to a non-U.S. entity. As these and other measures come into focus, our lawyers will stay ahead of developments and can help shape legislation to ensure that our clients’ interests are protected.
As AI works its way deeper into our lives, maintaining cybersecurity and data privacy has never been more important. Vast amounts of data are being aggregated and analyzed for virtually limitless purposes, creating a compelling need to safeguard, protect, and ethically govern the use of data. Our team has concentrated experience addressing cybersecurity best practices, identifying creative solutions for managing data protection concerns, and proactively addressing issues that impact our clients in this space before, during, and after a dispute arises.
Foley Equipped is designed to provide faster turnaround times leading to more deals closed all with the goal of mitigating risk. With this technology, we aim to turn around vendor contracts in as little as one business day (subject to conflicts clearance), which can be crucial time saved for your company. This gained efficiency is critical to getting deals and business done faster. Click here for more.