publication date: February 01, 2023

Data migration to the cloud – remedy for tech debt

Modernization of IT systems is often the result of a new business strategy, high costs of system maintenance and development, low level of security, efficiency, and often determination of technological debt. Determining the amount of technological debt and the risks associated with it are often part of risk management in the company and are included in the Business Continuity Plan. New digital strategies and digital energy transformations require highly scalable IT systems, data security and, accordingly, transfer of data to cloud. An element associated with digital transformation and its important stage is data migration to the cloud which stands for moving applications and data from one location (on-premise) to servers of the public cloud service provider (virtual servers). This is the beginning of digital transformation.

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publication date: January 13, 2023

On 26 January 2023 KIELTYKA GLADKOWSKI KG LEGAL will take part in the webinar organised by the Lawyer in cooperation with DocuSign devoted to Future of Electronic Signatures.

The webinar will discuss the future of digital transformation and the latest trends and best practices based on existing technology and recommendations for future analysis and reform in respect of electronic signatures. The speakers will analyse best practice guidance on electronic signatures and compliance requirements around electronic and digital signatures as well as manners to digitize contract agreement processes.

The presenters will include:

Matt Byrne, Deputy editor, The Lawyer

Brian Kelly, VP & Deputy General Counsel, DocuSign

Eoin O Reilly, Director of Legal, Product at Monzo Bank,

Pippa Whitmore, Legal Director, Pinsent Masons

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publication date: January 10, 2023

In cooperation with external colleagues specializing in the tax law of UK dependent countries (mainly the Cayman Islands), KIELTYKA GLADKOWSKI has developed favorable structures of business forms that limit the risk of investing private American funds in technology companies from Eastern Europe.

On the one hand, the current investment phenomenon consists in the need to:

1/ reduce the risk of the political situation, which is a solution provided by establishing a company in Poland;

2/ reduce tax costs, which can be achieved by setting up an additional structure, for example in the Cayman Islands (tax and regulatory friendly);

3/ provide for the owners of the companies solutions for tax residency outside of Poland (like, for example, in the Netherlands – in tax friendly jurisdiction).

We have experience in negotiating consultancy agreements between Polish and Ukrainian and US companies.

Our team has available model texts of Articles of Association of Cayman exempt companies.

We also assist in online registration of limited liability companies in Poland.

We have ready-made solutions and a portfolio of American investors, and that is why KIELTYKA GLADKOWSKI reaches out to technological Polish and Ukrainian companies that:

1/ either would like to create a joint venture with an American IT company to develop software for it;

2/ or go abroad with their own technologies or software by co-financing with a private equity fund.

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publication date: January 09, 2023

The Digital Services Act, known as DSA, is the Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on the digital single market and amending Directive 2000/31/EC.

It concerns three groups of entities. The first of them are the Internet users themselves, i.e. a great number of people who use this tool for various purposes. This legal act is intended to improve their security and the availability of information in the processes of purchasing specific products related to the Internet, primarily information about the sellers themselves. The constitution of the Internet is also intended to influence the transparency of content moderation rules. Another goal is to correctly and understandably inform Internet users about advertisements and sponsored content that can be encountered at every step when using the Internet. Users will have defined and facilitated ways to report illegal content, goods or services on online platforms. If the content posted by the user himself is removed for specific reasons, he will be informed about it and will have the opportunity to challenge such a decision.

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publication date: January 05, 2023

US regulators are warning banks about the risks associated with the cryptocurrency market. In the first jointly issued communication, the US Federal Reserve, the Federal Deposit Insurance Corporation and the Currency Control Office draw attention to the lack of proper regulation of digital currencies, misleading information and high exposure to financial fraud. The joint warning from financial institutions comes two months after one of the world’s largest cryptocurrency exchanges declared bankruptcy.

In a joint statement, the U.S. Federal Reserve, the Federal Deposit Insurance Corporation and the Currency Control Office stress that they are closely monitoring the activities of banking organizations related to cryptocurrencies.

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