Within the highlight | Journal of Chinese language Enterprise Law
F.From the latest market trends to the top law firms in the market, this edition highlights some hot topics and some of the hottest practices. Let us first turn to the current boom in Special Purpose Acquisition Companies (SPACs) in the USA, in which Chinese companies are actively participating due to the increased volatility in the capital markets due to the pandemic.
According to reports, China will gain a handsome stake of approximately $ 1 trillion in M&A activity in the two years after raising an estimated $ 129 billion in capital through this method of quick-tracking IPOs. However, after the US Securities and Exchange Commission questioned the accounting policies of some SPACs in April, transaction volumes on Wall Street declined.
What now for the SPAC? Our cover story, Market SPACulation, examines geopolitical risks amid frosty Sino-US relations and examines which Asian markets are examining the possibility of regulating the approval of SPACs. Risk advisors and senior practitioners in the US and Asia share their analysis of what is of greatest concern to regulators and investors and what the future holds for SPAC transactions.
Another hot topic is the protection of intellectual property. When it comes to combating piracy for high quality industrial software, the lack of precedent for investigation and enforcement and the insidious nature of the infringing acts make hunting a challenge. Mary Yang, Head of Legal Services, and Jessica Fan, Principal Legal Counsel at Cognex Asia share their security strategies with us in Pirate Hunters and how they hunted down software pirates and brought them to justice to set groundbreaking precedents in the process.
We are also proud to present in this edition our annual China Business Law Awards for Chinese and overseas practices that have led businesses through the toughest times of the past year.
This year we created the “Pro Bono” award to recognize law firms who work for equal access to justice, not only with charity but also with expertise in supporting numerous small and medium-sized businesses that The events surrounding the pandemic are hard hit. We also added the “Government and Public Affairs” award to introduce our readers to companies that have excelled in handling complex Chinese proposals, whether it be helping the government develop key guidelines or advising foreign companies that enter the Chinese market.
Based on our coverage of the Chinese legal market, after months of research and evaluations, we selected the winners in each category, received direct feedback from the market, audited thousands of votes and recommendations from national and international business consultants, decision-makers from management and the legal department, academics and government officials and taking into account any significant transaction, case, or other notable accomplishment that any company has been involved in over the past year. We warmly congratulate all winners!