Energy & Sustainability Connections Newsletter - February 2018

Mintz
Contact

Mintz Levin

A Note from the Editors

This month’s edition of Energy & Sustainability Connections brings the latest developments in energy investing, legal insights, company activity, and industry events straight to your inbox. This month, our Leader in the News is Propy, Inc., whose innovations using blockchain technology are transforming the global real estate market. In this month’s Legal Feature, Mintz’s Brian Novell and Daniel DeWolf analyze the pros and cons of SAFEs as a start-up funding tool. Get the where, when, and how of the 2018 MIT Sustainability Summit and Cleantech Open Northeast’s 2018 Kickoff Parties in the Event Highlights section. Finally, learn the latest about the Trump administration’s fiscal year 2019 budget request and infrastructure proposal in the Washington Updates section.

For links to industry grant opportunities and stories from the business, policy, and research sectors of the energy and clean technology industry, please see our Energy Navigator.

You can subscribe to our Energy & Sustainability Matters blog here.

We would also like to remind our readers that you can always ask us anything at http://mintzedge.com/ask-anything/. We built the MintzEdge website as a resource for entrepreneurs and investors, and hope that all of you take advantage of the site and see how it can help you.

Contents

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifLeaders in the News – Propy, Inc.

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifLegal Feature – SAFEs: The (Not So) Simple Agreement for (Potential) Future Equity

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifEvent Highlights

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifWashington Updates
   – Fiscal Year 2019 Budget Request
   – Trump Administration Infrastructure Proposal
   – Tax Extenders

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifRecent M&A Activity

https://www.mintz.com/newsletter/2014/imgs/nav-arrow-blue.gifUpcoming Events

Leaders in the News

Propy, Inc.

This month, we are excited to feature our client Propy, Inc., a global real estate marketplace aiming to disrupt the industry with a platform based on blockchain technology. A game-changing innovation in tech now sweeping across industries, blockchain offers a new, more secure, and more efficient paradigm for information sharing. The technology framework consists of a protected transaction ledger database shared by all parties in an established, distributed network of computers. By transparently recording every transaction in the network, blockchain eliminates the need for third parties like payment processors, allowing exchanges of currency and information to occur both freely and safely.

On January 22nd, Propy announced the launch of a pilot program in South Burlington, Vermont in which the company will work with officials on a trial run to replace the city’s current record-keeping system with one that relies on blockchain to record real estate documentation. To solve the problems that typically make the global real estate market inefficient, Propy provides the marketplace with decentralized title registry – a novel unified property store and asset transfer platform that allows buyers, sellers, brokers, and escrow/title agents/notaries to come together through the utilization of a suite of smart contracts to manage transactions and blockchain technology to record them.

A completed transaction through the Propy online marketplace represents a digital transfer of ownership on the Propy Registry. In the short-term, the Propy Registry will mirror official land registry records in which transfers of real estate are recorded. However, Propy’s long-term goal involves formal jurisdictions adopting the Propy Registry as their official ledger of record such that the transfer of a property on the Propy Registry constitutes the legal transfer of the property and the legal registration of that transfer. To that end, the company is actively engaging with local and state governments to make the Propy Registry a legally valid ledger of record for real estate transfers.

The late January announcement of Propy’s collaboration with South Burlington represents one of the first steps toward this goal. The new process of recording property sales on Propy’s blockchain registry greatly reduces the cost and complexity of recording and maintaining real estate documents. In addition to South Burlington’s pilot, Propy is already working with the government of Ukraine to replace its property recording system with the blockchain registry, and the company is planning to conduct further pilot programs in Arizona and Colorado to explore the intricacies of working with city- and county-level databases in the United States.

We are proud to highlight Propy, Inc.’s groundbreaking efforts as they continue to shape the contours of the global real estate market. To learn more about Propy’s concept and implementation, read its white paper here.

In our opinion, Propy is a perfect example of the way companies are harnessing the advent of blockchain technology to transform their respective industries. When it comes to energy delivery, blockchain presents opportunities for grid modernization and power exchange. There are now 122 different organizations in the energy industry tapping into blockchain technology, and between Q2 2017 and Q1 2018, $300 million was invested in the blockchain-related energy sector. As this new secure standard for information exchange continues to evolve, companies across sectors should consider how it can support, expand, or even revolutionize their strategies for long-term success.

Legal Feature

SAFEs: The (Not So) Simple Agreement for (Potential) Future Equity

This feature by Brian Novell and Daniel DeWolf was originally published in the September 2017 Mintz Levin TechConnect Newsletter.

Historically, most start-up companies were funded either by the offering of equity or by loans in the form of convertible promissory notes. Recently, however, there have been some hybrid instruments created to fund start-ups. Most notable, and quite popular these days, is the use of an instrument called a SAFE. “SAFE” is an acronym for “simple agreement for future equity.” A SAFE is a contract to receive an amount of equity as determined in a future priced round for which the investor pays the purchase price up front. Developed and released in late 2013 by Y Combinator, the SAFE is intended to provide a more efficient, clear, and simple alternative to convertible promissory notes, and notably lacks certain aspects thereof (including a set term, an interest rate, and a maturity date). Despite their name, SAFEs are not always as “simple” as expected, nor are they necessarily “for future equity” if conversion never occurs. Set forth below we discuss the pros and cons of SAFEs with respect to companies and investors.

Pros and Cons for a Company

SAFEs are generally very company-friendly and can provide companies with an effective financing option.

Pros:

  • SAFEs may provide efficiency and expediency by use of a simple form. With fewer variables to understand and negotiate, terms can potentially be agreed upon more quickly.
  • Decreased negotiation time can lead to savings on transactional and legal costs.
  • SAFEs do not require that interest be paid on the principal amount.
  • There is no requirement that the company shall repay the investment or guarantee that the investor shall receive equity. The investment shall convert into equity if, and only if, the SAFE’s conversion trigger is achieved pursuant to a subsequent qualified financing by the company.
  • Unlike convertible promissory notes, there is no deadline for conversion and this provides the company with tremendous flexibility as to timing for a true equity round.

Cons:

  • Given the possible need for more extensive review and negotiation, the associated fees of a SAFE financing may be on par with a convertible promissory note offering.
  • Sophisticated investors may object to using a SAFE. Depending on the respective bargaining power of the parties involved, a company may need to instead offer a convertible promissory note or other financing option.

Pros and Cons for an Investor

A SAFE is not investor-friendly and may be the least “safe” investment tool available to an early stage investor. With no certainty that an investment will ever convert into equity or otherwise be returned, investors should carefully analyze whether their investment decision falls within the range of situations in which the use of a SAFE may make sense for an investor.

Pros:

  • Similar to the potential benefits of simplicity to a company, SAFEs may allow investors to incur lower transactional fees and increase the expediency of their investment.
  • SAFE investors do still receive the benefit of a discount and/or valuation cap (similar to convertible promissory notes), which can add significant value to an investment.

Cons:

  • SAFE investors assume most, if not all, of the risk, in that there is no guarantee of any equity ownership in the company. An investor exchanges cash for a hope that a conversion event occurs.
  • A SAFE holder is not entitled to any company assets in the event of a liquidation.
  • A SAFE investor cannot declare a default under the SAFE, and therefore has no leverage to force a repayment or a conversion on favorable terms if a company is not performing well.
  • A SAFE is not eligible for 100% exclusion of tax on gains under Section 1202 of the Internal Revenue Code for qualified small business stock. In the event that the company is not successful, a SAFE would not be considered “stock” that could be written off as an ordinary business loss under Section 1244 of the Internal Revenue Code.
  • In addition to the negative reasons why a SAFE investor may never receive equity in the company (such as the company going bankrupt before ever consummating a qualified financing), if the company does extraordinarily well and never needs to conduct a financing that meets the conversion trigger threshold, a SAFE investor may also never receive equity in the very most successful start-ups that are capable of self-funding.

Summary

SAFEs are certainly a potential fundraising tool for companies, but they include certain attributes that make them very company-favorable and, conversely, not so favorable to investors. While SAFEs have become increasingly popular among companies seeking fundraising efficiency, investors should be wary of becoming SAFE holders when other investment options may be available. However, depending on the situation, the use of a SAFE can be an acceptable choice based on the context and variables in play. Mintz Levin has significant experience helping our clients develop strategies with regard to SAFEs and the other potential financing options available to companies and investors. Please consult with your legal advisor at Mintz Levin to discuss whether SAFEs makes sense for your next capital raising or investment event.

Event Highlights

MIT Sustainability Summit

We are excited to serve as a Leadership Sponsor for the 2018 MIT Sustainability Summit at the Four Seasons Hotel in Boston on March 9th. This year’s summit will focus on good jobs for a thriving economy – inspiring business from the inside, mobilizing from the outside. The MIT Sustainability Summit is an annual student-led event that has grown to include more than 350 attendees, including professionals, academics, and students. Past summits have featured discussions with thought leaders and expert practitioners such as Robert Eccles (Arabesque Partners), Tammie Arnold (Generation), Fedele Bauccio (Bon Appetit), Ray Offenheiser (Oxfam America), Jeremy Grantham (GMO), Jim Hanna (Starbucks), Mindy Lubber (Ceres), Nancy Gillis (GSA), Rick Ridgeway (VP, Patagonia), and many more. For more information and to register, click here.

Cleantech Open Northeast’s 2018 Kickoff Parties

Join Cleantech Open alumni, mentors, and thought leaders in the clean tech space in celebrating the launch of the 2018 Cleantech Open accelerator! If you’re a clean tech entrepreneur, this is the perfect event to learn how your venture can benefit from Cleantech Open. You will have the opportunity to give a one-minute pitch in front of the audience, and the crowd favorite will win a free application to Cleantech Open valued at $150! Mintz Levin has been a proud sponsor of Cleantech Open Northeast since its inception 14 years ago.

New York: The NYC Kickoff Party will take place on March 1st. For more details and to register, click here.

Boston: The Boston Kickoff Party will take place on March 22nd. For more details and to register, click here.

Washington Updates

Fiscal Year 2019 Budget Request

President Trump released his Fiscal Year 2019 budget request on February 12th. The Trump administration has worked for months on the budget proposal and could not have predicted the recent passage of the Bipartisan Budget Act of 2018 (BBA) increasing spending caps for Fiscal Years 2018 and 2019, so the White House released along with the budget request an addendum reflecting the new spending caps. Office of Management and Budget Director Mulvaney, speaking about the need to issue an addendum, said, “This may be the most complicated budget anyone’s ever going to do.”

The Trump administration supports the newly increased spending caps for defense spending in the BBA, but does not support the increased levels for non-defense programs. As a result, the president has proposed FY19 spending for defense at the new spending cap of $716 billion; but for non-defense spending, he is proposing $540 billion, which is $57 billion below the spending caps approved in the BBA.

The FY19 budget requests $30.6 billion for the Department of Energy with $2.5 billion for energy and related programs, $1.9 billion below the Fiscal Year 2017 enacted level. Included in that amount, the administration is seeking:

  • $696 million for Energy Efficiency and Renewable Energy
  • $502 million for Fossil Energy R&D
  • $757 million for Nuclear Energy
  • $120 million for the Yucca Mountain and Interim Storage Program
  • $10 million to provide financial and technical assistance critical to advancing electrification and energy development and deployment and reducing energy costs on Indian lands
  • Termination of the DOE loan programs and the Advanced Research Projects Agency-Energy
  • $95 million for the Petroleum Reserves
  • $77 million for the Power Marketing Administrations

The budget request also calls for $15.1 billion for the National Nuclear Security Administration, $5.4 billion for the Office of Science, and $6.6 billion for Environmental Management.

As with all presidential budgets, the plan released by the White House is best viewed as an indicator of the administration’s priorities. Once the House and Senate appropriations committees begin their work on the FY19 appropriations bills, we’ll learn more about how both Republicans and Democrats on Capitol Hill would like to see federal dollars spent in the next fiscal year.

Trump Administration Infrastructure Proposal

Also on February 12th, the White House released President Trump’s proposal for an infrastructure package, which calls for $200 billion in direct federal spending with the goal of using federal dollars to stimulate at least $1.5 trillion in new investment over the next 10 years.

$100 billion would create an Incentives Program to spur additional dedicated funding from states, localities, and the private sector. The Incentives Program would provide support to various classes of assets, including the following governmental infrastructure.

$20 billion would be allocated to expanding infrastructure financing programs with $14 billion going toward expansion of the Transportation Infrastructure Finance and Innovation Act, the Water Infrastructure Finance and Innovation Act, Railroad Rehabilitation and Improvement Financing, and rural utility lending, plus $6 billion toward expanding Private Activity Bonds (PABs). The broadened eligibility of PABs would apply to hydroelectric power generating facilities, among other categories.

$20 billion would create a Transformative Projects Program for “bold, innovative, and transformative infrastructure projects that could dramatically improve infrastructure.” Eligible projects for funding would include transportation, clean water, energy, and broadband, among others. Participants in the program would be required to demonstrate how they would significantly improve the safety, reliability, and frequency of service speed, substantially reduce user costs, and improve services. The program would be run by the Department of Commerce with an interagency selection committee composed of representatives of relevant federal agencies when choosing grantees.

Tax Extenders

The BBA, discussed above, also included an extension of more than 33 tax provisions that expired at the end of 2016. The BBA retroactively extends the provisions through the end of 2017. Included in the list of extenders are a number of energy-related provisions: the credit for section 25C nonbusiness energy property; the credit for residential energy efficient property; the alternative motor vehicle credit for qualified fuel cell motor vehicles; the credit for alternative fuel vehicle refueling property; the credit for two-wheeled plug-in electric vehicles; the second generation biofuel producers credit; the production credit for Indian coal facilities; biodiesel and renewable diesel incentives; the commence construction date for non-wind renewable power facilities eligible to claim the electricity production or investment credit in lieu of the production credit; the credit for construction of energy efficient new homes; and the energy efficient commercial buildings deduction.

Recent M&A Activity

  • February 13, 2018: Zamp Solar was acquired by PulseTech Products for an undisclosed amount.
  • February 9, 2018: AAdvantage Laundry Systems was acquired by Envirostar for $17 million.
  • February 7, 2018: Command Packaging was acquired by Delta Plastics for an undisclosed amount.
  • February 6, 2018: EmNet was acquired by Xylem for an undisclosed amount.
  • February 5, 2018: Clean Markets was acquired by CMC Energy Services for an undisclosed amount.
  • February 2, 2018: Alexin was acquired by Matalco for an undisclosed amount.
  • February 1, 2018: Pure Water Solutions entered into a definitive agreement to be acquired by Evoqua Water Technologies for an undisclosed amount.
  • January 24, 2018: U.S. Geothermal entered into a definitive agreement to be acquired by Ormat Technologies for $109.9 million.
  • January 11, 2018: PetroTax Energy Holdings was acquired by Ryan for an undisclosed amount.
  • January 11, 2018: JWC Environmental was acquired by Sulzer for $215 million.
  • January 8, 2018: PerryCrabb was acquired by Mazzetti for an undisclosed amount.

*Sources: Pitchbook

Upcoming Events

Connected Plant Conference

February 26–28, 2018
Charlotte, NC

More Info »

NECEC Webinar Series: SMARTen-Up on Solar in Massachusetts

February 27, 2018
Webinar

More Info »

AWEA Wind Project Operations & Maintenance Safety Conference 2018

February 27–28, 2018
Coranado, CA

More Info »

Boston Women of Renewable Industries and Sustainable Energy (WRISE) Chapter Kick-off

February 28, 2018
Boston, MA

More Info »

SEIA Finance & Tax Seminar

March 1, 2018
New York, NY

More Info »

Cleantech Open’s 2018 NYC Kickoff Party

March 1, 2018
New York, NY

More Info »

MIT Energy Career Fair

March 1, 2018
Cambridge, MA

More Info »

EnergyBar March 2018: Cleantech Intern Fair (Greentown Labs)

March 1, 2018
Somerville, MA

More Info »

Solar Summit 2018

March 1–2, 2018
San Diego, CA

More Info »

MIT Energy Conference

March 2, 2018
Cambridge, MA

More Info »

Launch Smart Clinic – Internet of Things (IoT) – MIT

March 6, 2018
Cambridge, MA

More Info »

Biotech + Sustainability: 2018 & Beyond

March 7, 2018
San Francisco, CA

More Info »

MIT Sustainability Summit

March 9, 2018
Boston, MA

More Info »

BuildingEnergy Boston

March 7–9, 2018
Boston, MA

More Info »

Blockchain in Energy Forum – Greentech Media

March 8, 2018
New York, NY

More Info »

4th Annual US Canada Cross-Border Energy Summit

March 12–13, 2018
Cambridge, MA

More Info »

NH Energy Week

March 12–15, 2018
New Hampshire

More Info »

NECEC Emerging Trends Series: Solar + Storage

March 13, 2018
Boston, MA & New York, NY

More Info »

ARPA-E Energy Innovation Summit

March 13–15, 2018
Washington, DC

More Info »

ACORE Renewable Energy Policy Forum

March 14, 2018
Washington, DC

More Info »

NY-BEST Annual Meeting & Conference: Capture the Energy 2018

March 14–15, 2018
Albany, NY

More Info »

GLOBE FORUM 2018: The Leadership Summit for Sustainable Business

March 14–16, 2018
Vancouver, Canada

More Info »

NECA Dinner Meeting

March 15, 2018
Cambridge, MA

More Info »

NEWIN Market Driven Innovation Webinar Series: Why Landfill Leachate?

March 16, 2018
Webinar

More Info »

17th Annual Wall Street Green Summit

March 19, 2018
New York, NY

More Info »

North Shore Technology Council Sustainability Forum

March 19, 2018
Beverly, MA

More Info »

AWEA Wind Project Siting & Environmental Compliance Conference 2018

March 20–21, 2018
Memphis, TN

More Info »

Solar Power Finance & Investment Summit

March 20–22, 2018
San Diego, CA

More Info »

GLOBALCON

March 21–22, 2018
Boston, MA

More Info »

Cleantech Open’s 2018 Boston Kickoff Party

March 22, 2018
Somerville, MA

More Info »

Advanced Energy Conference (AEC) 2018

March 26–28, 2018
New York, NY

More Info »

California Solar Power Expo

March 27–28, 2018
San Diego, CA

More Info »

SEIA Codes & Standards Symposium

March 28–29, 2018
San Diego, CA

More Info »

 

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mintz | Attorney Advertising

Written by:

Mintz
Contact
more
less

Mintz on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.