EU Legislatures Agree on the World’s First Comprehensive AI Regulation
On 8 December 2023, the Council of the European Union and the European Parliament have reached a provisional agreement on the Artificial Intelligence Act (respectively, the “Provisional Agreement” and “AI Act“), setting a precedent as the first comprehensive legal framework for AI in the world. The Provisional Agreement follows marathonic talks between the legislative bodies […]
Overview of NVCA Documents Updates – October 2023
Dear clients and colleagues, In the ever-changing field of corporate law, staying updated on industry norms is crucial. We wish to inform you on the October 2023 updates made to the National Venture Capital Association (NVCA) templates, shedding light on key changes that have been incorporated into the Investment Rights Agreement (IRA) Model, Certificate of […]
Business Continuity- The October 7th Effect
What is happening in Israel today and how the wheels of the Israeli economy continue to spin? We are pleased to invite our contacts in Asia to attend a special one-hour webinar on Thursday December 7th about the security situation in Israel and business continuity. Thursday, December 7, 2023 | ZOOM Time: 12:30pm India | […]
Privacy Protection in IoT Household Products and “Smart Homes”
Dear clients and friends, On November 15, 2023, the Protection of Privacy Authority (the “PPA“) published a document on privacy in IoT (Internet of Things) household products and smart homes (the “Document“). The term IoT refers to the use of electronic devices with sensors that collect information from the environment, such as movement data, temperature, […]
Tech Division’s Resources – Global AI Questionnaire and corresponding Policy
We are excited to share with you the exclusive resources available in the Tech Division’s collection. In our commitment to provide comprehensive legal support in the dynamic field of technology, we have curated a selection of materials aimed at empowering you with insights into the legal aspects of the AI tech industry. We invite you […]
Update – Compensation for Indirect Damage due to Operation Iron Swords
Dear clients and colleagues, On November 20, 2023, came into force the Property Tax and Compensation Fund Regulations (Damages Payments) (War Damages and Indirect Damages) (Iron Swords) (Temporary Order), 5784-2023 (the “Temporary Order”), which regulates the compensation outline for indirect damage in various areas and communities defined as a “Special Area“. For the Temporary Order […]
War and the Workplace – Further Updates
Dear Clients and Friends, We continue to keep you updated regarding the effects and consequences of the current military situation on the workplace, including information on relevant legislative amendments. Amendment to the Law of Protection of Workers in Times of Emergency The continued state of war had led to the creation of a temporary […]
Herzog is ranked by BDi Code as the top tier in 38 practice areas for 2023
We are delighted to announce that in this year’s BDICode ranking, we are ranked in the top-tier in no less than 38 practice areas! With a team like ours, success knows no bounds, and we are grateful for the dedicated efforts of all our employees who have enabled us to consistently position ourselves at the […]
Herzog’s Contribution to the Banking & Finance 2023 Global Practice Guide
We are pleased to announce that the “Banking & Finance 2023 Global Practice Guide” has been published by Chambers and Partners. The Israel Law and Practice chapter was authored by our own Irit Roth, Roy Nachimzon, Natalie Jacobs and Ben Kanter. The guide is now live and free to access here.
Parallel import and the Schweppes precedent – is it sparkling or sizzling?
We are excited to share Partner Karen Elburg and Partner Adar Bengom latest article in The Trademark Lawyer Issue 5: ” Parallel import and the Schweppes precedent –is it sparkling or sizzling?”. In the article Karen and Adar examine two conflicting cases regarding parallel imports into Israel to assess the Supreme Court’s position on related […]
The European Parliament Adopted the Final Version of the Data Act
On 9 November 2023, the European Parliament adopted the final text of the Data Act, which will introduce a new regulatory regime that applies to data, including non-personal data. The Data Act, first introduced in February 2022, noting that while “data is a core component of the digital economy”, most data remain unused, or their […]
Extension of Period for Depositing Awards Under Trustee Routes
Dear Clients and Friends, On November 19, 2023, the Israeli Tax Authority (the “ITA“) published a notice of instruction which provides for an extended period of time to deposit awards granted under the trustee routes of Section 102 of the Israeli Income Tax Ordinance. The extension applies to all awards which were supposed to be […]
Business Continuity in Israel – the October 7th Effect
The October 7th effect: what happened in Israel on that day? What is happening right now in the region? And, whether business continues in Israel despite of the security situation Wednesday, November 29, 2023, 4:00pm to 5:00pm Japan Time | ZOOM As you all know, these are difficult days in Israel. October 7th, 2023 will […]
Allocation of Permits for the Employment of 3,000 Foreign Workers in the Industrial Sector
Dear Clients and Friends, We wish to inform you that, in order to facilitate the employment of foreign workers by the Israeli industry, the government has decided to approve the allocation of permits for up to 3,000 foreign workers in the industrial sector, in two phases. The permits granted in the first allocation will be […]
Israeli Employment Law – Did You Know? End of Year Employer ‘To-Do’ Check List
Dear Clients and Friends, We are pleased to present you with our fourth and last quarterly update for 2023. This time, we present you with our End of Year Employer ‘To-Do’ Check List. Vacation Accrual and Carry Over of Days: According to law, in general, employers are not obligated to allow employees to carry […]
Financial Assistance Program Law
Dear Clients and Colleagues, The Israeli parliament recently passed the Financial Assistance Program Law (Temporary Order – Operation Iron Swords), 5784-2023, including certain amendments regarding the payment of expenses for placing employees on unpaid leave. Below we set forth a general description of the proposed compensation; details can be found in the Law itself. […]
STAND WITH HUMANITY
ISRAEL BIG LAW FIRMS SUPPORT PLATFORM Dear Friends and Colleagues, As you have seen over the past days, these are difficult times in Israel. The unimaginable, vicious, barbarous attacks on our people and our country have caused immense numbers of casualties and the ongoing horror of Hamas captivity for hundreds of our citizens. We are […]
Israel at War – The October 7th effect
October 7th, 2023 will forever be remembered as one of the darkest days of Israel, the Middle East, and the world. Four weeks into the war, we believe it important to share with our friends and colleagues exactly what happened, what are the current developments, and how all of these events impact Israel, the Israeli […]
Leveraging Global Carbon Markets to Finance Innovative Climate Change Technologies
THE CLIMATECH COMMUNITY STANDS TOGETHER FOR RESILIENCE – CONTINUITY – GROWTH We were honored to host numerous climatech entrepreneurs, investors and carbon market experts on our webinar on November 14th. Thank you to all who participated, to our partners at PLANETech and the Israel Innovation Authority and to our amazing speakers. Speakers: Noam Sonnenberg, Director, […]
US President Issued Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence
In a significant move, the US administration has issued a comprehensive Executive Order (“EO“) addressing various aspects of regulating artificial intelligence (“AI“) and its implications across sectors. This update provides a brief overview of the key directives of the EO. AI Safety and Security Standards The EO sets forth rigorous measures to enhance AI […]
Continued Updates and Reliefs in Light of the Security Situation – Taxes & Customs and the Legality of imports
Dear clients and friends, In the middle of the fourth week of the war and following the previous customer update on the subject (click here), we continue to update regarding the reliefs given by the Tax Authority and other authorities regarding indirect taxes, imports in general and the import of donations in particular, and other […]
War and the Workplace – Continued Updates
Dear Clients and Friends, In the midst of the third week of the war, we continue to update you regarding the impact and effects the situation is having on workplaces. Outline for Compensation of Businesses and Its Effect on Workplaces At the end of last week, the Finance Ministry outlined a plan designed to provide […]
Chambers Private Wealth 2023 Global Practice Guide
We are pleased to announce that the “Chambers Private Wealth 2023 Global Practice Guide” has been published by Chambers and Partners. The Israel Trends and Developments chapter was authored by Meir Linzen, Guy Katz, and Sophie Matatyaho. The guide is now live and free to access here.
SEC Amends Rules Governing Beneficial Ownership Reporting
Dear Clients and Friends, On October 10, 2023, the U.S. Securities and Exchange Commission (SEC) amended the rules governing beneficial ownership reporting. The amendments to beneficial ownership reporting are significant, and set shorter filing deadlines for reports that are required to be filed on Schedules 13D or 13G by any shareholder beneficially owning more than […]
Client Update – Military Reserve Service
Dear Clients and Friends, We continue to update you on matters related to employment law during this difficult time of war. We take this opportunity to provide you with some high-level information regarding the unique framework of military reserve service in Israel. Background According to local law, certain individuals in Israel are required to […]
Disclosure Obligations of Israeli Companies Listed on a U.S. Stock Exchange with Respect to the War in Israel
Several clients listed on a U.S. stock exchange have inquired about their disclosure obligations with respect to the ongoing war in Israel, and specifically whether they are required to file or otherwise should file an immediate report on Form 6-K regarding the effects of the war on their business operations and financial results. As of […]
Updates and Reliefs In Light of the Security Situation – Taxes & Customs and the Legality of imports
Dear clients and friends, In light of the current security situation, the Tax Authority has issued guidelines providing the following reliefs in connection with the import of donations. These reliefs relate also to indirect taxes. We note that the Tax Authority is still discussing the provision of further reliefs and additional guidelines will follow accordingly. […]
War and the Workplace: Overtime and Foreign Workers
Dear Clients and Friends, We continue to update you on matters regarding the workplace during times of combat. Overtime Employment As a follow-up to our previous update and as on October 9, 2023, a General Authorization (Temporary) to Employ Workers during Overtime, 5784-2023, under the Working Hours and Rest Law, was declared, we would like […]
Client update – Iron Swords
Dear clients and friends, The State of Israel is undergoing a very difficult time. We are faced with a complex and challenging reality which also affects the workplace and work routines. The Minister of Defense has recently signed a declaration, currently applying to the entire State, stating that Special Conditions apply to the homefront, following […]
Together we will overcome
Dear Clients, Colleagues and Friends, Over the last 24 hours, the State of Israel has been viciously attacked by terrorists in the most inhumane manner. We have suffered large numbers of casualties, predominantly civilian. The terrorists who invaded our country committed a series of atrocities and have taken multiple hostages. As we write this message, […]
