Israel Group News Q2 2021

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DLA Piper Insights

Israel Group News

Q2 2021

Welcome to the August 2021 issue of our global newsletter, Israel Group News. We continue to think of you – our many dear friends, colleagues and clients – hoping that you are keeping safe and well. DLA Piper’s Coronavirus Resource Center continues to provide information on the latest FAQs, alerts, publications, and past and upcoming webinars related to this all-encompassing topic.

Israel Group News aims to keep you informed about current developments, hot topics for your consideration, and DLA Piper activities that focus on bringing this dynamic ecosystem to your doorstep. DLA Piper’s Israel Group delivers all the benefits of a global law firm through a team of lawyers committed to the Israel market. We provide a wide range of innovative legal services to Israeli companies, investors, and entrepreneurs, as well as to companies throughout the world seeking opportunities in Israel. We view ourselves as an extension of our clients and we aim to partner with them for the long term, whether their needs involve day-to-day inquiries, smaller projects, special situations, or large-scale transactions.

For more general information about the Israel Group, click here. To gain more perspective on our trusted advisor practice and the types of day-to-day guidance we provide, click here. To read our “2020 at a Glance,” click here.

Please do not hesitate to reach out if you have any questions or if we may be helpful in any manner.

Israel Country Group video We are thrilled to share the new promotional video for our Israel practice! We are tremendously grateful to our clients, colleagues, and friends who continue to support us. Click here to watch the video and meet the DLA Piper Israel team. Please share any feedback you may have and please consider following our LinkedIn page.

Global M&A Intelligence Report For the eleventh consecutive year, DLA Piper was ranked number one for global M&A deal volume. We also advised on the most European Private Equity buyout deals in 2020 for the fourth consecutive year (MergerMarket). Our annual “Global M&A Intelligence Report” is based on an analysis of key deal terms in more than 3,200 private M&A transactions on which we advised since 2015 and includes analysis and commentary on some of the following key topics: most common deal types and processes used globally; most common conditions seen in transactions; how dealmakers are managing and allocating risks in the gap between signing and closing; typical earn-out terms; and more. For more information and to receive a copy of the report, please click here.

Global activities We are proud to report that, in the second quarter of 2021, we commenced projects for more than 70 Israeli companies on multiple matters in the following 41 jurisdictions: Australia, Austria, Bahrain, Belarus, Canada, Chile, China, Colombia, Czech Republic, Denmark, the European Union, Finland, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Netherlands, Nigeria, Norway, Poland, Portugal, Romania, Russia, Scotland, Serbia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Ukraine, the United Arab Emirates, the United Kingdom and the United States.

Below are some representative matters in which we assisted our Israeli clients around the world: • Commercial issues in Bahrain, Canada, Chile, China, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Scotland, Singapore, South Africa, South Korea, Sweden, Ukraine, the United Kingdom and the United States • Corporate and securities issues in Australia, Hong Kong, Ireland, Japan, Singapore, Thailand, Ukraine, the United Arab Emirates, the United Kingdom and the United States • Employment and employee benefits guidance in Australia, Belarus, Chile, China, Colombia, Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Japan, Luxembourg, Netherlands, Nigeria, Poland, Romania, Singapore, Switzerland, Ukraine, the United Kingdom and the United States • Litigation and dispute guidance in Australia, France, Italy, Netherlands, South Africa, Spain and the United States • M&A guidance in Canada, Germany, Hungary, Norway, the United Kingdom and the United States • Patent guidance in China and the United States • Privacy guidance and compliance – including with respect to the GDPR and the CCPA – in Australia, Denmark, the European Union, Japan, South Africa, the United Kingdom and the United States • Private equity fund investment guidance in Italy and the United States • Real estate guidance in Portugal, Singapore, the United Emirates, the United Kingdom and the United States • Regulatory issues in Austria, Canada, Denmark, the European Union, Germany, Hungary, Japan, Poland, Serbia, South Korea, the United Kingdom and the United States • Tax guidance in Australia, Russia and the United States • Trademark and copyright assistance in the United Kingdom and the United States

More news from DLA Piper Below is a sampling of recent client alerts that we believe would be of interest to our Israel-connected clients. For a full menu of our daily publications, please click here.

Ton van Doremalen (Head of Middle East Tax Group, DLA Piper, Dubai) and Jeremy Lustman (Head of Israel Group, DLA Piper, Tel Aviv) provide an overview of the Double Tax Treaty (DTT) signed between Israel and the United Arab Emirates. Based on the Organization for Economic Cooperation and Development Model Tax Convention, the DTT’s primary focus is to avoid situations of double taxation. Since the UAE currently does not levy corporate tax (except from oil and gas producing companies and branches of foreign banks) or any withholding tax, the DTT will primarily be effective for Israeli inbound investments and will affect taxes from dividends, interest, and royalties.

Melanie Walker (Partner, DLA Piper, Los Angeles and Chicago), Deborah R. Meshulam (Partner, DLA Piper, Washington, DC), Jeffrey C. Selman (Chair of SPAC Transactional Practice, DLA Piper, San Francisco) and Sidney Burke (Co-Chair of New York Corporate Group, DLA Piper) discuss the Securities and Exchange Commission’s (SEC) recent focus on special purpose acquisition companies (SPACs) and the areas of concern raised by the SEC. Over the past several months, the SEC has increasingly focused on SPACs, issuing a series of investor alerts, disclosure guidance, and public statements alerting the public and market participants to potential issues in SPAC transactions. The SEC’s Enforcement Division has also weighed in, launching several SPAC-related investigations. To learn more about the latest trends in SPAC transactions and what SPAC sponsors, management, underwriters and accountants should be focusing on, click here.

Carolyn Bigg (Partner, DLA Piper, Hong Kong), Fangfang Song (Consultant, DLA Piper, Beijing) and Venus Cheung (Registered Foreign Lawyer, DLA Piper, Hong Kong), highlight what businesses need to know when China’s Data Security Law (DSL) takes effect on September 1, 2021. The DSL has the express aim of promoting the development and use of data as a key factor with the digital economy and highlights the continued opportunities for businesses to do more with their data – such as via AI and big data analytics – than may be possible in other parts of the world but while remaining good corporate citizens by complying with a robust data security compliance framework. To learn more about China’s Data Security Law, click here.

As the scientific response to the COVID-19 pandemic develops, many employers are considering what their approach should be to the issues around vaccination for their workforce, with a view to accelerating a return to some kind of normality. This is an area where law, guidance and best practice is likely to develop rapidly and there is no one- size-fits-all solution, particularly for multinational employers. As such, DLA Piper launched a global guide in which we address some key considerations for employers with regard to requiring or encouraging employees to be vaccinated and highlight some of the differences in risk around the world.

Today, virtually all companies rely on external technical solutions to effectively manage their businesses and keep a competitive edge. But the downside of incorporating new technology into business operations is that it creates new vectors for cyberattacks. In this alert, Lea Lurquin (Associate, DLA Piper, San Francisco) and Andrew Serwin (Global Co-Chair, Data Protection, Privacy and Security Practice; Global Co-Chair, Cybersecurity Practice, DLA Piper, San Diego) discuss why businesses should take note of the recent high profile cybersecurity breaches and consider taking some key steps to mitigate platform security risks. To learn more, click here.

Recent events On April 22, 2021, Jeremy Lustman (Head of Israel Group, DLA Piper, Tel Aviv) moderated a panel at openbusinesscouncil's Global Digital Transformation Summit, a virtual event that focused on solutions and opportunities for businesses post COVID-19, highlighted action plans and various government strategies on digital transformation, and helped identify how businesses and governments can work and collaborate in this new age of the fourth industrial revolution. Learn more here.

On April 27, 2021, we hosted a screening of Something to Report, a fictional corporate drama created by DLA Piper that depicts a number of real issues that companies face, including whistleblower response protocols, compliance and internal audit failures, insufficient investigative resources, and management of internal investigations. It was shown in three parts and accompanied by an interactive discussion led by Brett Ingerman (Office Managing Partner, DLA Piper, Baltimore) and Jeremy Lustman (Head of Israel Group, DLA Piper, Tel Aviv) after each 15-minute segment. Learn more here.

On May 6, 2021, we hosted the third installment of our WIN Israel “Coffee with Colleagues” series with our UK employment colleagues Vinita Arora (Partner, DLA Piper, London) and Jan Colhoun (Senior Associate, DLA Piper, London). This concept was established as a forum for virtual roundtable sessions where in-house counsel would have the opportunity to discuss their legal issues with each other and with DLA Piper colleagues in an intimate and relaxed environment. Vinita and Jan presented a brief update on current UK employment issues (including the recent UK Supreme Court decision in the Uber case), followed by an interactive discussion with participants. Learn more here.

On May 12, 2021, we hosted a virtual event focused on US employers’ plans to safely return their employees back to the workplace. We were privileged to have three of our employment colleagues from across the country present – Ben Gipson (Partner, DLA Piper, Los Angeles), Anne Pachciarek (Partner, DLA Piper, Chicago) and Evan Parness (Partner, DLA Piper, New York). They discussed in detail the key considerations for office reopening, including whether employers can mandate that employees get vaccinated, current government requirements for office reopening and related employee benefits considerations. Learn more here.

On June 2, 2021, Jeremy Lustman (Head of Israel Group, DLA Piper, Tel Aviv) attended the first ever Global Investment Forum in Dubai that was jointly hosted byThe Jerusalem Post and Khaleej Times. This conference brought together government officials, business owners, executives, and philanthropists from both the UAE and Israel for an intimate and exclusive networking forum focused on shared vision and joint collaboration. Speakers and panelists addressed many new technologies and initiatives in the financial, medical, water, cyber, real estate and tourism industries. Learn more here.

On June 10, 2021, The DLA Piper Israel team and a handful of clients participated in a Winemaker's Evening at Metzuda Winery with the PYUP Wine Club, which is based out of Jerusalem. This exclusive event included sampling various Metzuda wines alongside a delicious four-course dinner while overlooking the beautiful vineyards. Learn more here.

On June 16, 2021, we hosted our first in-person client dinner since the start of the pandemic. We really enjoyed reconnecting with an intimate group of clients and friends over a delicious meal and a beautiful view of the Mediterranean Sea, while at the same time supporting one of our city’s local gourmet restaurants. Learn more here.

On June 22, 2021, we were honored to virtually host DLA Piper’s leading technology practitioners, Andrew Dyson (Global Co-Chair of Data Protection, Privacy and Security Group, DLA Piper, Leeds), Anthony Day (Partner, DLA Piper, London) and Kit Burden (Global Co-Head of Technology Sector, DLA Piper, London), who explored the key legal, commercial and regulatory issues associated with deploying AI and data driven solutions, particularly those leveraging cloud infrastructure. Learn more here.

We enjoyed having two interns join the DLA Piper Israel team this summer. Ron Feingold, a law student at Emory University School of Law, had an opportunity to co- author, with Andrew Dyson, an article that gleaned insight into the EU's new AI Regulation. To read their article in The Jerusalem Post, click here. We were also joined by Gabriela Souferian, an incoming senior at the University of Texas, who was a key member of our marketing team. Gabriela was a participant of the TAMID Group Fellowship, an organization we have supported for a number of years that provides student leaders with the opportunity to work with host companies in Israel over an eight- week summer internship program. To learn more about what TAMID does, click here.

Gabriela Souferian, Ron Feingold DLA Piper Israel team enjoys a beautiful summer day and Jeremy Lustman

Coming soon Due to the current global situation, we have postponed our in-person events for the next several months. Stay tuned for updates on the following topics and virtual events: • Country and regional events focused on France and Germany • Global corporate venture • Global intellectual property • Coffee with Colleagues, featuring Nicholas Klein (Of Counsel, DLA Piper, Washington, DC) • Israel Real Estate Summit • ABCs for DPOs 3.0: Schrems and post-Brexit • Preparing your company for a cyber breach • Wine club client dinner

If you would like to receive invitations to DLA Piper Israel Group events, click here.

Recent press • “Innovation and Mobility in Vehicles,” Maariv, 19 April 2021 • “Further US restrictions against business with China and Russia may potentially impact Israeli companies,” Calcalist, 20 April 2021 • “Doing business with Morocco - the rules worth knowing,” Globes, 5 May 2021 • “Should Israel be at the forefront when it comes to the adoption of digital currency solutions?,” Calcalist, 7 June 2021 • “Commercial real estate investors are rushing to Texas, London and cold storage,” Calcalist, 20 June 2021 • “Which country is perceived as the leading destination in real estate?,” WALLA, 21 June 2021 • “What is the data protection status in Thailand?,” People & Computers, 28 Jun 2021

Check us out on social Get fresh perspectives and insights from DLA Piper and our Israel Country practice – find us on LinkedIn and Twitter, and subscribe to Israel Global Gateway, a blog about business and legal issues important to Israeli companies, investors and entrepreneurs in support of their global activities. If you would like to receive invitations to DLA Piper Israel Group events, click here, and to join the Israel Group mailing list, click here.

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