People / Following shareholder concerns, Atlas Air board will become 30% female

first_imgJane Lute and Sheila Stamps Since leaving the DHS in 2013, Ms Lute has focused on cyber security, and is a member of the Homeland Security Advisory Council and the World Economic Forum’s Global Agenda Council on Cyber Security. She is also part of the Atlantic Council’s Task Force on a Transatlantic Digital Agenda, a member of the board of the Center for Internet Security and of the George Washington University’s Center for Cyber and Homeland Security.Ms Stamp has worked in finance, is a board member of CIT and has had executive positions with Boston Financial, Bank One Corporation and First Chicago Corporation.Atlas Air said: “The naming of two new nominees to the 2018 board [gives it] a focus on gender diversity, cybersecurity, banking and financial skills as well as other skills.”Atlas Air made the announcement in a letter to shareholders, which also notes that it has been listening to shareholder concerns, which include: “ Inquiries made about board diversity, in particular, gender diversity, the annual director evaluation process and use of an external advisor to conduct annual evaluation.“Certain investors specifically asked about board succession planning, particular skills the board is seeking, the process of identifying director candidates and committee refreshment and rotation.”The letter added: ”At board level, we continue to take shareholder viewpoints under careful consideration when reviewing and refining our programs, communications, and disclosures.”Atlas Air said it was had also “adopted some very significant and impactful changes” to its executive pay programme, also in alignment with “specific shareholder feedback”.It has, for example, amended the CEO’s long-term incentives to contain a strict “double-trigger” provision, added a relative total shareholder return element to all performance long-term incentive awards and increased CEO stock ownership guidelines from 5x to 6x base salary, “further aligning our CEO and shareholder interests”. By Alex Lennane 20/04/2018center_img Atlas Air has nominated two high-powered women to its board of directors, following shareholder inquiries about board diversity.Its 10-strong board currently has just one woman director, significantly less than the Fortune 1000 average of 17%.However, two “long-standing” directors will be retiring, and  – assuming they are both men – nominated to replace them are Jane Lute, former deputy secretary of homeland security under the Obama administration, and Sheila Stamps, commissioner and audit committee chair on the board of the New York State Insurance Fund.Thus, Atlas’s board will comprise 30% women, well above average, once they are appointed at the annual meeting of shareholders on May 23.last_img read more

The First Disclosure of the Kim Il Sung Tomb Castle Which…

first_img News By Daily NK – 2006.03.07 5:44pm RELATED ARTICLESMORE FROM AUTHOR News [imText1]Keumsoosan Assembly Hall was turned into Keumsusan Memorial, a luxurious tomb palace. This is where Kim Il Sung is mummified. In 1995, while 3 million starved to death, the construction began. Reconstruction of the Assembly Hall to Palace cost 8.9 billion dollars. 8.9 billion dollars could have saved 23 million lives since the money is enough to purchase 60 million tons of corn. A North Korean website, www.uriminzokkiri.com disclosed the inside of the Kim Il Sung Tomb Palace as they introduced a picture book called “In order to actualize the project Eternal Life for the General.”The picture book introduced the activities of Kim Jong Il to establish the Keumsoosan Palace, Tower of Eternal Life, The name of the Juche era and the Day of the Sun (Kim Il Sung’s birthday) was established, The publication of the memoir, excavation of historical sights of revolutions and battles along with hundreds of pictures were shown.Keumsoosan Memorial Palace, included in the first part of the picture book is located at Keumsoosan (Moran Bong), Mi Am Dong, Dae Sung District. The building was originally called Keumsoosan Assembly Hall, and was built between March 1973 and April 1977 on the 65th birthday of Kim Il Sung.[imText2][imText3][imText4]Kim Il Sung wanted to be buried near the Revolution Patriot Memorial at Dae Sung Mountain. However, Kim Jong Il refused to carry out Kim Il Sung’s will and made Keumsoosan Assembly Hall into a Palace for his tomb, in order to fulfill his role of the successor, Kim Jong Il, to pay tribute to the eternal leader Kim Il Sung. In 1994, Kim Jong Il commanded to construct the Palace in order to keep Kim Il Sung’s body mummified. On 12 June 1995, the Assembly hall was reconstructed to Keumsoosan Memorial Palace, with the agreement of Center of the Party, Committee of military in the Center of the Party, National Defense Commission, Central People’s Committee, and Administration Council. The total lot is 3,500,000 ㎡. The building takes up 34,910㎡, and the square is 10,000 ㎡ where 200,000 people can gather, which is twice of Kim Il Sung Sqaure. 700000 granites carved into 20 different shapes decorated the building. The Assembly hall was European Style stone made complex with five floors. However, the Tomb Palace has a statue and portrait of Kim Il Sung in the Central Hall and the Square in front of the palace is 415m×216m, symbolizing Kim Il Sung and Kim Jong Il’s birthday (15 March and 16 February) [imText5]The square was built by engineer corps 1 Team (Expert at building cottages for Kim Il Sung and Kim Jong Il). Because they are experts at building cottages, heavy equipment is available and this group is better equipped than other construction groups. [imText6]Visitors leave their coats at the dressing room when they enter into the room of the Mummified Kim Il Sung. Men need to wear suits and women need to wear Han Bok (traditional Korean clothes). Nobody with jackets or work clothes can enter. Many people from provincial areas had to go back without entering the room with the mummified Kim Il Sung, because they had not been aware of the dress code. [imText7][imText8][imText9][imText10]In 1996, a long aisle was constructed outside of the building in order for people to come visit. In 1998, an arboretum with 100 different kinds of trees was constructed. The palace is connected to Pyongyang Subway which is 200m underground, and more than 30 checkpoints prevent common people from entering the palace. For the hygiene and convenience in the palace, an air purifier, automatic shoes cleaner and escalator were built into the palace at the expense of billions of dollars. All the rooms and halls were decorated with granite and marble stones. Keumsoosan Memorial Palace is the epitome of loyalty and love for the Father Kim Il Sung , and was built at the expense of millions of lives. This is the reality of the Kim Jong Il dictatorship. Outside Aisle on the left side of Palace (above). Stone Gate at the Palace (Middle). Granite wall surrounding the palace [imText11][imText12][imText13] News SHARE Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak center_img There are signs that North Korea is running into serious difficulties with its corn harvest AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] The First Disclosure of the Kim Il Sung Tomb Castle Which was Built at the Expense of 3 million Live North Korea tries to accelerate building of walls and fences along border with China News Facebook Twitterlast_img read more

Slowdown in credit growth to impact Canadian banks’ prospects

first_imgQ3 results from Scotiabank, BMO beat analyst expectations Keywords Banking industryCompanies Conference Board of Canada Facebook LinkedIn Twitter James Langton G7 tax pledge may be upstaged by CBDC work Related news U.S. action on climate benefits banks, asset managers: Moody’s High debt levels threaten banks’ strong results: Fitch Canada’s banking business will grow at just a 2.4% annual rate in 2017 due to weaker growth in both consumer and business credit, according to the Conference Board’s report. Between tougher mortgage rules, higher taxes and already high levels of household debt, the growth of consumer debt will continue to slow this year. “In fact, this year, for the first time in 25 years, growth in disposable income should outpace growth in consumer debt,” the Conference Board’s outook forecasts. At the same time, recent strong growth in business lending will not be sustained in the year ahead, the Conference Board’s outlook also says: “Chartered bank loans issued to the private sector have posted their longest expansion on record — 24 consecutive quarters of growth since the 2009 recession. However, the double-digit increases seen through 2016 will not be sustained moving forward, with a slowdown in private sector lending growth expected this year.” As a result of these trends, the report predicts that banks will be focused on controlling costs in the year ahead to support their margins. “Despite historically low interest rates, the industry’s profit margin has improved significantly in recent years and is expected to average around 31% over the next five years,” the Conference Board’s report says. “Meanwhile, pre-tax profits will continue to climb, reaching over $80 billion this year.” The key risks to this outlook include the prospect of a correction in either the housing market, or equity markets, which, the Conference Board says, “would have a significant impact on the industry’s performance.” Read: Banks’ wealth-management divisions deliver in Q1 Read: AI is coming to a bank near you Read: Positive outlook for world’s banks Photo copyright: macfromlondon/123RF Canada’s banking sector is expected to see tepid top line growth this year — yet profits are expected to keep rising — amid slowing credit growth, according to a new outlook report from the Ottawa-based Conference Board of Canada. Share this article and your comments with peers on social medialast_img read more

OSC charges offshore firms with unregistered trading

first_imgJames Langton Australian court finds against binary options firm OSC sanctions binary options enabler Related news Keywords Binary optionsCompanies Ontario Securities Commission Aussies join binary options bancenter_img The Ontario Securities Commission (OSC) has issued a notice of hearing and statement of allegations alleging several offshore firms have been involved with providing unregistered binary options trading to Canadian investors. The allegations against OptionRally, TCM Investments Ltd. (TCM), LFG Investments Ltd. (LFG), AD Partners Solutions Ltd. (AD) and InterCapital SM Ltd. have not been proven. The first hearing in the case is set for Sept. 26. According to the statement of allegations, “OptionRally engaged in activities similar to a registrant. It intermediated trades and directly solicited securities transactions. OptionRally carried out this activity with regularity and was compensated by investors.” The OSC’s statement also alleges that the various other firms (TCM, LFG, AD and InterCapital) conducted acts in furtherance of trades. “None of these entities was registered to trade securities in Ontario and none of these entities filed a prospectus with the commission,” the statement says. TCM, which operates OptionRally in Belize, is based in the United Kingdom. LFG previously operated OptionRally. InterCapital is also based in the U.K. and acts as a “servicing company” for OptionRally; AD is located in the United Arab Emirates. The firms have all been placed on the OSC’s warning list in the past. The OSC’s statement indicates that since OptionRally was put on the regulator’s warning list in 2014, the OSC has received over 30 complaints or enquiries regarding the firm, including 20 complainants who confirm that they invested an aggregate of $300,000 with OptionRally. The firm now stands accused of trading without registration and distributing securities without a prospectus. The enforcement action comes as regulators are stepping up their efforts against illegal binary options trading in Canada amid growing investor complaints. The Canadian Securities Administrators is currently considering a proposed new rule that would formally outlaw advertising, offering, and trading in, binary options by retail investors. Read: CSA proposes formal ban of binary options trading schemes Facebook LinkedIn Twitter Share this article and your comments with peers on social medialast_img read more

Several Water Projects for Clarendon and Portland

first_imgRelatedSeveral Water Projects for Clarendon and Portland Several Water Projects for Clarendon and Portland UncategorizedJuly 10, 2008 RelatedSeveral Water Projects for Clarendon and Portland FacebookTwitterWhatsAppEmail Minister of State in the Ministry of Water and Housing, Everald Warmington, has informed that several water projects have been developed for the parishes of Clarendon and Portland.These include systems at Brandon Hill, James Hill, Peace River, Pennant Wood/Rosehall, Birds Hill/Chateau/Palmers Cross, and Christiana/Spaldings in Clarendon; and Fruitful Vale, Shirley Castle and Buff Bay/Windsor Castle in Portland.Making his contribution to the 2008/09 Sectoral Debate in the House of Representatives on July 8, the State Minister explained that the Brandon Hill water supply project involves mainly the improvement of intake works and the construction of a storage reservoir.“Tenders have been received for this project, which is to be carried out in conjunction with the Clarendon Parish Council at a cost of $15 million,” he said, adding that 50 per cent of the project is being financed by the Member of Parliament from the Constituency Development Fund.He also pointed out that the project would serve 2,780 residents and that work would commence in the latter part of this financial year.Mr. Warmington said that 80 per cent of the work undertaken on the James Hill water supply was completed and the project is scheduled to be completed in August. “The project, which is estimated to cost some $15 million, involves the erection of a relift pumping station, pipelaying and the erection of a storage tank,” he said, noting that water would be redistributed from the Kellits Treatment Plant to serve a population of 3,301 in the communities of James Hill, Irburn and Carty Hill.Mr. Warmington reported that a contract has being awarded for the Peace River water supply scheme and works have commenced on the project, which is being implemented at a cost of $17 million. He explained that the project would involve minor source improvement and pipelaying activities.He said the project would be completed in October 2008 and would serve 3,474 persons in the communities of Peace River, Thompson Town and Wanstead.The State Minister informed that the Birds Hill/Chateau/Palmers Cross water supply project is valued at $25 million and involves the construction of 7 kilometres of water distribution pipes. When completed, the project will serve the communities of Chateau/Palmers Cross, Birds Hill and Chandlers Pen.Mr. Warmington said that the Christiana/Spaldings project is estimated at over $30 million and will result in the installation of 9.5 kilometres of pipeline at Alston, along the Tweedside main road into Pecham, ending just beyond the intersection with the Grantham/Franklin main road at a point in Guinea Corn district. The contract has been submitted to the National Contracts Commission for approval.The State Minister also informed that the necessary investigations have been completed for the Pennant Wood/Rosehall water project, adding that tenders are to be invited in the near future. In the meantime, Mr. Warmington pointed out that during this financial year, the three major projects in Western Portland would be implemented, as a means of easing the water woes of the residents.“Pipelaying works are on-going on the $25 million Fruitful Vale water supply project, which will carry water from the intake to the main road. We are currently awaiting supplies of pipes in order to implement the pipelaying contract, which will serve Red Hills, Coopers Hill and adjoining communities. When completed, this project will serve 2,080 residents in Upper Fruitful Vale, Rock Hall, Grants Gate, Coopers Hill, and Durham,” he said.The State Minister also informed that the Buff Bay/Windsor Castle project is being carried out at a cost of $9 million. “We are currently conducting source investigation in conjunction with the Water Resources Authority, to provide water to the additional service area, and this process is on-going. Some 1,457 persons in Hart Hill and Windsor Castle will benefit from this project,” he said.Mr. Warmington noted that design reviews are being carried out for the Shirley Castle project, which is slated for implementation during this financial year.center_img Advertisements RelatedSeveral Water Projects for Clarendon and Portlandlast_img read more

Education Minister says there are no plans to replace Scoil Mhuire in Stranorlar with…

first_img Education Minister says there are no plans to replace Scoil Mhuire in Stranorlar with a new school building News Twitter Facebook Facebook Previous articleLand in and around Derry may be used during Fleadh for campingNext articleDeputy McConalogue calls for plan to attract new employers to Donegal News Highland Google+ Pinterest Pregnant women can receive Covid vaccine at LYIT’s vaccination centre WhatsApp Twitter Further drop in people receiving PUP in Donegal center_img Pinterest By News Highland – April 24, 2013 75 positive cases of Covid confirmed in North Google+ Brian O’Domhnaill FFThe Education Minister says the current criteria for school investment is such that there are no plans to replace Scoil Mhuire in Stranorlar with a new school building.The project was previously included in the government’s Capital Investment Programme but was removed by the current education minister’s 5 year programme.The issue was raised in the Seanad by Senator Brian O’Dohmnaill – he pointed out the poor conditions teachers and pupils must endure:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/04/brianam.mp3[/podcast]Education Minister Ruari Quinn said he recognises that the current facilities at St Mary’s are not adequate, but couldn’t make any commitment to replacing them:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/04/ruariam.mp3[/podcast] Gardai continue to investigate Kilmacrennan fire WhatsApp LUH still not ready to restore IT systems Lárionad Acmhainní Nádúrtha CTR to take part in new research project RELATED ARTICLESMORE FROM AUTHORlast_img read more

Over half a million in funding for Mount Errigal preservation

first_img By admin – March 8, 2016 Google+ Pinterest Important message for people attending LUH’s INR clinic Over half a million in funding for Mount Errigal preservation Twitter Facebook WhatsApp Google+ RELATED ARTICLESMORE FROM AUTHOR Pinterest Over half a million euro in funding has been allocated to Donegal County Council for the protection and preservation of Mount Errigal in West Donegal. The money was allocated by the Northern Peripheral Fund and will go towards assigning a research and design team that will carry out the work required.Local Councillor Micheal Cholm Mac Giolla Easbuig who has campaigned for the funding in the past says it’s a step in the right direction:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/03/michcholm530.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.center_img Previous article12 patients awaiting admission at LUH today – INMONext articleCall for urgent flood risk evaluation on River Lennon admin DL Debate – 24/05/21 Twitter Homepage BannerNews WhatsApp Journey home will be easier – Paul Hegarty Harps come back to win in Waterford News, Sport and Obituaries on Monday May 24th Facebook Arranmore progress and potential flagged as population growslast_img read more

News / Carriers warned: no let-up in container shipping overcapacity for three years

first_img Anyone hoping for an end to the overcapacity crisis gripping container shipping is likely to be disappointed… for at least three years.According to analysis by Drewry Maritime Research released this morning, “slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain”.Sluggish trade volumes in recent months have forced Drewry to reassess its growth forecasts for the year, and it has almost halved its estimates to just 2.2% global growth in container traffic this year. And it has additionally revised 2016 and 2017 downwards.More than 1.5m teu of capacity was due to be delivered over the course of this year, representing growth of 7.7%, and a further1.3m teu in 2016, exacerbating a demand-supply imbalance that is set to reach an all-time low. Drewry said its Global Supply/Demand Index, which measures the relative balance of vessel capacity and cargo demand (where 100 equals equilibrium), had fallen to 91 in 2015 – “its lowest level since the recession-ravaged year of 2009” – and predicted it would decline further next year.“[The] Global Supply/Demand Index will fall to its lowest level on record over the next few years, indicating that the overhang of excess capacity will be even greater than that experienced in 2009,” the company said today.The findings are in its quarterly Container Forecaster report, and author Neil Dekker said: “The container shipping industry is in the midst of an overcapacity crisis which will worsen next year.“How carriers and tramp owners address the overcapacity situation will influence the duration of the crisis. Shipping lines will need to idle a much larger portion of the fleet than they have hitherto been prepared to do. Otherwise, short of an unexpected recovery in traffic volumes, container shipping is set for several years of overcapacity and mounting financial losses.”The only thing that has so far saved many carriers from reporting heavy losses has been the steep decline in bunker costs.“They cannot continue to rely on this unexpected gift to maintain profitability,” Mr Dekker added. By Gavin van Marle 08/10/2015last_img read more

UNESCO Worldwide Multimedia Competition

first_img Share 0 LinkedIn 0 212 Photography Istanbul ← Fellowships at Imre Kertész Kolleg Pocket Reddit +1 Tweet The Masters Review Flash Fiction Contest 2021center_img January 21, 2015 Published by atredondo Similar Stories UNESCO Worldwide Multimedia Competition Fourth Human Rights Youth Challenge Leave a Reply Cancel ReplyYou must be logged in to post a comment. Deadline: 25 January 2015Open to: young people under 24 years old worldwide Prize: scholarship to attend the 2015 International Model UN (IMUN) Summer Camp in the USADescriptionThe 2015 UNESCO Worldwide Multimedia Competition invites young people around the world to think creatively and take part in this contest by answering the following question:The “Year of Light” focuses on the topic of light and light sciences and its applications; but it is the human curiosity that underlines the vision which brings light to the hearts of humanity. What kind of light-based innovation would you propose to promote sustainable development and meet the needs of a global challenge such as energy, education, agriculture, or health?Participants are encouraged to respond by making a 3-minute video, multimedia presentation, written essay, art work or using any method that channels their specific passion and talent to share their answer to the question.EligibilityThe competition is open to young people around the world and will be split into 3 ages groups:10-14 years old;15-19 years old;20-24 years old.PrizesFirst place: winners will receive a 100% Scholarship to attend the 2015 International Model UN (IMUN) Summer Camp in the USA.Second and third place: winners will receive a 50% Scholarship to attend the 2015 International Model UN (IMUN) Summer Camp in the USA.The top 9 winners will be recognized and showcased in global events during the summer of 2015.ApplicationIn order to enter the competition you should follow the next steps:Complete the entry form;Answer the contest’s question using multimedia: powerpoint, essay, video, artwork, music or poetry.Send your multimedia via email to: [email protected] Please put your name and the title of your multimedia in the subject line.The contest deadline is 25 January 2015. Contest winners will be announced on March 30, 2015.For further information please visit the official website. ChangemakerXchange Summit 2015 →last_img read more

Dealing with delays, contracts and confidentiality during lockdown

first_imgDealing with delays, contracts and confidentiality during lockdownHarbottle & Lewis’ Kostya Lobov offers advice on how to adapt to the pandemic without causing legal problemsKostyantyn LobovTuesday 21st April 2020Share this article Recommend Tweet ShareAs we settle into lockdown life for the foreseeable future, businesses in the games ecosystem have had to react to changes in the market and adapt to new ways of working, which can create new challenges.Here are three situations which studios might encounter, and some tips on how to deal with them:Delaying a launchThe pandemic has caused a number of cancellations and delays, and the unfortunate reality is that we are likely to see more before this is over. There are a few things to be mindful of if you are considering delaying a launch or any associated marketing, events or promotions.Kostya Lobov, Harbottle & LewisFirst, consider whether changing the launch date could put you in breach of the terms of any existing agreements with any suppliers, retailers, platforms, publishers, investors or other stakeholders. This means checking each contract to see what, if anything, it says about the launch date.The terms of a contract can, in most cases, be changed if all of the parties consent. If you successfully negotiate a change, it should be recorded in writing, preferably in the form of a short variation agreement. If that is not possible, an exchange of emails between all the parties to the contract confirming their agreement, whilst not ideal, is better than nothing.If the terms cannot be changed, check whether the contract has a Force Majeure clause. This is a provision commonly found in contracts which typically allows a party to suspend performance of its obligations if it is unable to do so because of an event outside of its control. A word of caution: the wording of such clauses varies considerably, so the fact that a Force Majeure clause exists does not necessarily mean that it will be helpful. It is important to look at it carefully to see what events are and are not covered, and what steps need to be followed.If it looks like the Covid-19 pandemic could fall within the scope of the clause, check to see if any exclusions apply — the contract may, for example, exclude events which were reasonably foreseeable, and require you to take steps to mitigate the consequences of delaying the launch. Some contracts also have specific notification and dispute resolution procedures which must be followed in the event of a breach.As a last resort, you may be able to rely on the English law concept of frustration. This can occur where it becomes impossible for a party to perform a fundamental obligation of a contract because of an unforeseen event, or makes a fundamental obligation radically different. When a contract is frustrated, neither party has to comply with future obligations. Determining whether a contract has been frustrated is not always straightforward and requires a careful analysis of the obligations. If it comes down to this, it would be prudent to obtain input from a lawyer.If the launch date is pushed back, you may have to offer refunds to consumers who purchased pre-orders. This will depend in part on how the pre-order was advertised at the point of sale, whether or not the date was a term which incorporated into the contract with the consumer, whether the studio has an express or implied a contractual right to change the launch date and, if so, whether such a term is fair.”Where there is some confidential information present, having it clearly labelled as such can be useful if things go wrong.” Putting the legal arguments to one side, the PR implications of denying refunds of pre-orders should also be considered, and weighed against their realistic commercial impact. Other, more creative, solutions may also exist, such as offering consumers an incentive (be it free subscription time, some in-game currency or a cosmetic item) should they decide not to cancel the pre-order, while making it clear that they can.If copies of the game have already been shipped to the press and influencers, they will need to be informed of the new launch date and corresponding embargo date. Where there are NDAs or written agreements in place, these will usually have been drafted by the studio or its lawyers and their terms should (hopefully) be forgiving when it comes to making last minute changes. If not, now is a good time to review them.If any adverts for the game mention the launch date, these may need to be updated to avoid misleading consumers and falling foul of the CAP Code, which is enforced by the Advertising Standards Authority. The launch delay could have a knock-on effect on the timing of promotional marketing.Note that the CAP Code specifies that the end dates of promotions must not be changed unless unavoidable circumstances beyond the control of the promoter make it necessary (which may be the case, depending on the studio’s circumstances) and either (i) not to change the date would be unfair to those who sought to participate within the original terms, or (ii) those who sought to participate within the original terms will not be disadvantaged by the change.The Last of Us: Part 2 is one of the games that has been delayed due to the COVID-19 pandemicMaintaining confidentialityOnline communication and collaboration tools were already popular, but their use has skyrocketed in recent weeks. With their ease of use and fast, informal nature, it’s important to be aware of how confidential information is treated.Confidential information can come in many forms. Lists of contacts and suppliers, launch schedules, price lists, information about employees, videos and screenshots prior to launch, and code, could all be protected by confidentiality.A written agreement is not essential for confidentiality to arise, although it is common to have a contractual obligation (either as a clause in a commercial contract, or as a standalone non-disclosure agreement) in the context of a commercial deal. Confidentiality, at least in the UK, is something which can arise automatically when all of the ingredients are present and does not require a written agreement. Broadly speaking, if the information is (i) confidential in nature (i.e. not already known to the public), and (ii) is communicated in circumstances which import an obligation of confidence, then it could be protected.”The pandemic has caused a number of cancellations and delays, and the unfortunate reality is that we are likely to see more before this is over” If, for whatever reason, confidential information is leaked, its owner — typically the studio — will have the option of bringing a breach of confidence claim and seeking an injunction to prevent further breaches. Though the studio may not always decide to do that, having that option can be very useful.As part of its claim, the studio would have to show that the information in question meets the requirements of confidentiality. If there was an agreement which expressly says so, then that is relatively easy. But if there isn’t, or it’s not clear if the agreement covers it, how that information was treated on a day-to-day basis before it was leaked is highly relevant. If it was treated with the precautions that you would expect to apply to something which is confidential, that can be a helpful factor. If it was not, it suggest that the information was not intended to be confidential.What this means in practice is that it is a good idea to keep confidential and non-confidential communications and workstreams separate whenever possible. It is also a good idea to label confidential documents, email chains, chat groups, discussion topics (etc) as confidential. To be clear, calling something confidential, when it clearly is not, will not change its status. But where there is some confidential information present, having it clearly labelled as such can be useful if things go wrong.Following normal organisational security protocols, such as not using personal devices for work (unless they are managed by the organisation), is also important. Not only does this help to reduce the chances of a leak happening in the first place, it demonstrates that the studio is taking precautions to protect its confidential information — a factor which a court may take into account.Digital execution of documentsFor documents which are subject to English law, the law is tolerant when it comes to digital execution. Digital signatures — which can include a variety of methods, from proprietary tools like DocuSign, to applying any kind of digital mark to the document in the appropriate place — are effective, which means they will work in most day-to-day situations. The person signing the document needs to have authority to do so on behalf of the company, and all other normal rules of contract formation will apply.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games There are a few situations where digital signatures will not work. For documents which have to be signed in the presence of a witness, that witness must be physically present in the same location as the person signing — using a video call is not an acceptable alternative.This is sometimes the case with documents which have to be executed as a deed, for example powers of attorney and transfers of real estate. If this comes up, consider if it’s possible to execute the deed differently — for example, with two directors signing, instead of one director and a witness. Some companies have particular rules or restrictions in their Articles about how documents should be signed, so it is worth checking this first.Documents which need to be notarised and/or legalised are likely to run into the same hurdle, because the notary has to be physically present. This is rarely required in the UK, but is still sometimes needed in other jurisdictions, for example some overseas intellectual property registries. The best practice is to check with a local attorney before signing. As many countries are still under lockdown or have social distancing policies in place, it may be possible to forego some of the normal formalities.Kostya Lobov is a lawyer at Harbottle & Lewis, whose Video Games Group has been advising the games industry since days of the 8-bit console. Find out more at their website.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesEA leans on Apex Legends and live services in fourth quarterQ4 and full year revenues close to flat and profits take a tumble, but publisher’s bookings still up double-digitsBy Brendan Sinclair An hour agoUbisoft posts record sales yet again, delays Skull & Bones yet againPublisher moves away from target of 3-4 premium AAA titles a year, wants to build free-to-play “to be trending toward AAA ambitions over the long term”By Brendan Sinclair 4 hours agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more