European regulators recently published clarifications on the scope of ICT services under the EU Digital Operational Resilience Act (DORA), prepared by the European Commission, which confirms previous guidance and enables financial entities to take out of scope certain services which form part of regulated financial services.
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
On January 13, 2025, the United Kingdom’s Prime Minister Sir Keir Starmer announced the UK AI Opportunities Action Plan. The AI Opportunities Action Plan outlines the UK’s intentions to become a world leader in artificial intelligence technology for the benefit of private businesses and their customers as well as for all UK residents via AI-enabled public services.
On January 8, 2025, partners Doneld Shelkey, Mike Pierides, and Marina Aronchik presented an Outsourcing and Technology 2025 webinar as part of the Morgan Lewis Tech & Sourcing Webinar Series: Data 2025.
Starting as of Friday, January 17, 2025, financial entities must now be compliant with the EU’s Digital Operational Resilience Act (DORA). Implementation efforts have accelerated in recent months to meet the deadline and in many cases are still ongoing. The European Supervisory Authorities (ESAs) published a joint statement last month emphasizing the importance of financial entities adopting a robust, structured approach in order to meet their obligations in a timely manner.
Open-source software (OSS) and artificial intelligence (AI) are commonly used terms in today’s rapidly evolving tech landscape. Both are pivotal in shaping modern technology but are rooted in different goals and philosophies. OSS promotes collaboration and transparency, while AI looks to mimic human behaviors. Despite their objective differences, there are intriguing intersections between OSS and AI, which this article will explore.
In today’s rapidly evolving marketplace, innovation is not just a competitive edge but rather an expectation. Customers increasingly rely on their vendors to provide cutting-edge technology and stay ahead of industry trends. As such, a critical question arises: Should customers require service providers to agree to a contractual obligation to continually evolve and innovate their service offerings?
In many standard service agreements, providers will typically be required to deliver their services in accordance with generally accepted industry standards and practices and with professionalism and a level of skill appropriate to the agreement’s demands. While this standard often serves as a benchmark, it is rarely spelled out in detail. To reduce ambiguity, some agreements may go a step further, introducing a defined term to capture the expected service quality.
We invite you to join us for Data 2025, our upcoming Tech & Sourcing webinar series. In this series of webinars, our lawyers will consider the key global challenges facing businesses in their use of data.
The rapid adoption of generative AI (gen AI) is driving increased cloud consumption.
Contract Corner
In the case of the ownership of intellectual property (IP) developed by a supplier as part of a service agreement with a customer, should the traditional position that the customer should own all developed IP always be the position agreed upon by the parties?