New Tax Benefits for Encouragement of the High-Tech Industry
Dear Clients, Colleagues and Friends, Background – The New Law, its Purpose and the Benefits it Offers On July 25, 2023, a law granting significant tax benefits aimed to bolster the high-tech industry was passed in the Israeli Parliament. This law is designed to strengthen the Israeli high-tech industry by granting Israeli […]
Important Update on Proposed Legislation regarding Israeli Tax Residency of Individuals
Dear clients, friends and colleagues, We are pleased to update you regarding a proposed bill recently published by the Israeli Ministry of Justice on July 24, 2023 (the “Proposed Bill“). This bill addresses the definition of “Israeli Resident” and “Foreign Resident” for Israeli income tax purposes concerning individuals and suggests significant changes to existing law. […]
Our client Snyk acquires Israeli start-up Enso Security
Our client, the UK based cybersecurity company, Snyk, has acquired the cybersecurity startup, Enso Security. The acquisition of Enso Security expands Snyk’s capabilities and further solidifies its presence in the cybersecurity market and Israel. We wish to thank our partners Dan Sharot, Efrat Kesler, Dr Ehab Farah, Hanan Haviv, Iris Achmon, Nir Gal, Ronen Avner, […]
The European Commission Adopted EU-US Data Privacy Framework for Data Transfers
The European Commission (“Commission“) has formally adopted its new adequacy decision for the EU-US Data Privacy Framework (“DPF“) under the General Data Protection Regulation (“GDPR“). The decision concluding that the US ensures an adequate level of protection for personal data transferred to organizations participating in the DPF. The DPF, which was drafted in conjunction with […]
Herzog Guide – Using Artificial Intelligence Systems in Organizations
Dear clients, colleagues and friends, The use of Artificial Intelligence (AI) systems is becoming more common in businesses, product development and commerce contexts. Following questions raised by many colleagues and clients in a variety of industries, we have put together this guide, which provides an initial overview of the key legal risks associated with using […]
The Federal Trade Commission Published its Updated Endorsement Guides
The Federal Trade Commission (“FTC“) has recently announced the anticipated finalization of its updated Guides Concerning the Use of Endorsements and Testimonials in Advertising (the “Guides“). The updated Guides provide guidance to businesses regarding truthful advertising practices involving reviews and endorsements. The Guides reflect the FTC’s updated view on addressing the evolving landscape of advertising […]
Delaware’s Privacy Legislation Lands as the 12th Statewide Comprehensive Law
On 30 June 2023, the Delaware legislature passed the Delaware Personal Data Privacy Act (HB154), marking Delaware as the 12th state (and the 7th since the beginning of 2023) to enact a comprehensive consumer data privacy legislation. The bill joins the Delaware Online Privacy and Protection Act, which has been in effect since 2016. Once […]
Dr. Roy Schöndorf will be joining Herzog as a Partner
Dr. Roy Schöndorf joins Herzog as a Partner and will be responsible for a range of international and government related matters. Dr. Schöndorf began his legal career in the Israel Defense Force’s International Law Department, where he acted as a legal adviser in Israel’s negotiations with regional countries. Following his military service, Dr. Schöndorf completed […]
What do you know about Israeli Employment Law? Termination of Employment under Israeli Law
Dear Clients and Friends, We are pleased to present you with our third quarterly update for 2023. This time, we have chosen to devote our update to an issue that, unfortunately, is always relevant: Termination. Third update: what do you know about termination under Israeli Law? This update obviously cannot cover all aspects of this […]
Women In Tech Israel – Let’s talk about AI!
Discover how AI empowers diversity & inclusion by eliminating biases, fostering fair decision-making, and creating equitable opportunities for all. 6:00 – 6:30 PM | Welcome cocktail and registration 6:30 – 6:40 PM | Opening 6:40 – 7:00 PM | An AI based framework to make the world a fairer place 7:00 – 7:30 PM […]
Joining the League: Oregon Becomes the 11th State to Pass a Comprehensive Privacy Law
Oregon is set to become the 11th US state (and the 6th since the beginning of the year) to enact a comprehensive data protection law, after its legislature nearly unanimously passed Senate Bill 619 to adopt the Oregon Consumer Privacy Act (“OCPA“) Once approved by the Governor, the OCPA will become operative on 1 July […]
Tailoring an AI policy as a GC
We are delighted to invite you to a fascinating Conference, “Tailoring an AI policy as a GC”, which will take place on Wednesday, July 12, 2023, from 09:30 to 12:00, at Herzog Tower, 6 Yitzhak Sadeh St, Tel Aviv, Israel. This Conference will explore the emerging legal risks of using AI in technology. We aim […]
Social Gaming Operators under Litigation Storm in the United States
In recent years, the activities of social gaming operators, as well as sweepstake operators, have been facing increasing legal scrutiny in the United States, with a series of high-profile state class-action lawsuits challenging the legality of these activities. This litigation trend can be traced back to Washington, where a series of class action lawsuits resolved […]
Medtronic Takes a Tax Hit in Israeli Transfer of IP / FAR Court Case
New Court Decision Affirms the ITA’s Position regarding FAR Transfer The Central Region District Court recently issued a ruling with respect to a tax appeal filed by Medtronic Venture Technologies Ltd. (the “Taxpayer“). The Medtronic ruling deals with a notice of deficiency issued by the Israel Tax Authority (the “ITA“), in which it determined that […]
Herzog’s Contribution to the Chambers GPG Tax Controversy 2023 Israel
We are pleased to announce that the “Chambers Tax Controversy 2023 Global Practice Guide” has been published by Chambers and Partners. The Israel Law and Practice chapter was authored by Meir Linzen, Yuval Navot and Ofer Granot. The guide is now live and free to access here.
Neogames acquired for 1.2 billion dollar
Warm congrats to our longstanding client NeoGames (Nasdaq: NGMS) for their acquisition by Aristocrat Leisure (ASX: ALL) for $1.2 billion!! The fantastic deal was signed on May 15, and was a complex cross-border take-private transaction, which required the joint efforts of interdisciplinary teams at our firm. Neogames is an online gaming company registered in Luxembourg and […]
IMCD N.V. signs agreement to acquire 100% of shares of KOI Products Solutions and Engineering
Congratulations to our client, IMCD N.V, a leading distributor of speciality chemicals and ingredients, on signing an agreement to acquire 100% of the shares of KOI Products Solutions and Engineering, an Israeli company which serves the composite, paint, cosmetics, coatings, and ink market. This is the third transaction of IMCD Group in Israel represented by Herzog and we […]
Congratulations Pinecone on your $100M funding by Andreessen Horowitz
Herzog Tech is proud to be working with Pinecone, the leader in Vector Database Search and one of the fastest AI growing companies globally.
Japan / Israel Doing Business in Space
Gilad Majerowicz, Partner at Herzog’s Commercial Department, and Chairman of the Israel Japan Chamber of Commerce, was a moderator at the Space Tech Summit last Monday in Tel Aviv, in the Japan / Israel – Doing Business in Deep Tech panel. The Panel discussed Israeli and Japanese collaborations and included fascinating panelists and leading experts. […]
Draft Opinion of the Protection of Privacy Authority regarding the Collection of ID Card Numbers and Photocopies of ID Cards
Dear clients and colleagues, We would like to draw your attention that a few days ago, the Protection of Privacy Authority (the “PPA“) published, for public’s comments, a draft opinion regarding the collection of identification card numbers and photocopies of identification cards (the “Draft Opinion“). The Draft Opinion reviews the PPA’s position regarding the legality […]
Privacy-Related Aspects of Monitoring Remote-Working Employees
Dear clients and colleagues, We would like to inform you that the Protection of Privacy Authority at the Ministry of Justice (the “PPA“) has recently published an official guideline regarding privacy-related aspects of monitoring remote-working employees (the “Guideline“). The topic of remote employment and the ability of an employer to monitor its employees’ performance while […]
Texas to Become The 10th US State to Adopt Comprehensive Data Protection Law
Texas is poised to become the tenth US state to pass a comprehensive data protection law, after its legislature unanimously passed a bill to adopt the “Texas Data Privacy and Security Act” (“the Bill“). The legislature is now heading to Texas’ governor, who is expected to approve it to become into law. The newly Bill […]
The Regulation of Payment and Payment Initiation Services Law is Approved by the Knesset in the Second and Third Readings
Dear clients and colleagues, We would like to bring to your attention that on May 22, 2023, the Economic Plan (Legislation Amendments for the Implementation of the Economic Policy for the Budget Years 2023 and 2024) Law, 2023 Bill (the “Economic Plan Bill“), was approved by the Knesset in the second and third (and […]
AI IMPLICATIONS IN BUSINESS TRANSFORMATION
AI is revolutionizing the way we do business and has become an essential tool for many successful companies. This event aims to provide you with a comprehensive understanding of how AI can be implemented in your business and help you stay ahead of the competition. The RUtech IL community has invited top experts and leaders […]
The ITA Publishes Guidance and Safe Harbor for SAFEs
The Israel Tax Authority’s Guidance The Israel Tax Authority (the “ITA“) published yesterday a formal letter addressed to the Israel Advances Technology Industries association (the “Guidance“) concerning the classification of Simple Agreements for Future Equity (commonly referred to as “SAFEs”) as an investment instrument for tax purposes. The Guidance (in Hebrew) can be found here. […]
Guidelines by the Equal Employment Opportunities Commission in preparation for the publication of the Annual Wage Gap Reports
Dear Clients and Colleagues, We would like to bring to your attention that the Equal Employment Opportunities Commission (EEOC) has recently published updated guidelines to employers, regarding the manner in which they should prepare their annual reports, detailing the average wage gaps between male and female employees, in accordance with the Equal Pay for Male […]
Advised Goldman Sachs in connection with Ormat Technologies’ $340 Million stock offering on NYSE
Congratulations to Goldman Sachs for acting as the sole book running manager of a $340 million equity offering by Ormat Technologies on the NYSE. We were happy to assist in this transaction as Israeli counsel. Ron Ben-Menachem and Mohammad Mawasi worked on this transactions, along with Davis Polk who acted as underwriters’ counsel.
Yair Geva on tech12
Super excited to have our head of Tech, Yair Geva, on tech12’s annual list of the most influential people in Israel’s Tech. To read more >> Click here
Congrats Dor, Ariel and Spera Security on your $10M Seed Round
It was a privilege to assist Spera Security in its $10M seed financing led by YL Ventures. Ariel Kadyshevitch and Dor Fledel deserve congratulations for launching a truly unique identity security solution.
Transfer of Data to Israel from the European Economic Area
Dear clients and colleagues, Further to our previous clients update on December 7, 2022, we wish to update you that on May 7, 2023, the Protection of Privacy Regulations (Instructions Regarding Data Transferred to Israel from the European Economic Area), 2023 (the “Regulations“), were officially published. The background for the Regulations is the review process the European Commission currently […]
