Towards a UK Investment Act?

Orrick, Herrington & Sutcliffe LLP

Orrick, Herrington & Sutcliffe LLP

NOTE: This client alert was originally published 9 November 2016, and has been updated to reflect subsequent developments.

Against the background of UK policy moving towards a more nationally-led trade and investment policy following this summer’s referendum, the new UK government is still in the process of establishing its policies regarding some of the key economic challenges facing the country in the coming decades.  As was clear from the UK government’s issue of a green paper on its industrial policy on 23 January 20171 a major theme, common to many other large economies, is the renewal of critical infrastructure. In the context of a nationalist mood amongst voters and the perception that there is a gap to be filled in the UK’s investment law, it is useful to look both at the recent history of UK foreign investment control and referable indicators from the legal systems of other major economies, particularly the Commonwealth.

The more general competence of investment law is one of the domains which passed from the UK parliament to the EU Commission, as part of the Treaty on the Functioning of the European Union (the “Lisbon Treaty”). Other competencies, such as energy, are domains of shared competence and so the area of critical energy infrastructure is one area in which it can be seen that the UK has formulated national policy that will be discussed here. Further, given the UK’s recent vote on the re-negotiation of its relationship with the European Union, it is possible to conceive that the UK may seek to pull together the existing elements of its legislation and policy into a clearer general statute on foreign investment. This new regime would sit alongside any other trade agreements that it may seek to negotiate, whether with the EU or with other countries and trade blocs.

Emerging position on critical energy infrastructure

The UK imposes few controls on foreign investment. There are no sectors of the economy where restricted foreign investment applies, other than that the investor must comply with monopoly and merger rules and restrictions around any pre-existing government interest, such as a golden share obtained on privatisation. Even in the defence sector, there is no formal rule restricting foreign participation2.

The one exception, common with other countries, is national security. The Enterprise Act 2002 grants the Secretary of State special powers to serve an intervention notice on where a proposed merger represents to a threat to national security, media plurality or the stability of the UK financial system. Intervention notices have been served to date on all of these grounds.

In the offshore oil and gas industry, the national security issue has arisen in a number of cases. Production at the Rhum field, a major gas field in the North Sea in which BP and the National Iranian Oil Company each have 50% shares, was halted in 2010 due to the international sanctions regime imposed upon Iran. As NIOC was a listed entity for sanctions purposes, the situation arose where off-takers were prevented by sanctions from paying for that off-take and new investment would have breached sanctions. In 2013, citing field safety reasons around the difficulties of decommissioning high pressure gas fields, the Secretary of State allowed BP to re-commence production on the basis that the NIOC’s interest and revenues (until the end of the licence term) would be managed by the (then) Department of Energy and Climate Change (“DECC”)3. Although NIOC can expect to receive its share of the revenue eventually, the combination of sanctions and the temporary management scheme mean that NIOC cannot sell its interest in the field, which has effectively been expropriated for the stated grounds of safety. A further case arose when the Secretary of State blocked the sale of 12 North Sea gas fields to LetterOne, citing the possibility that its Russian owners might become subject to EU sanctions in the future. Although the parties to the transaction had devised a complex structure involving a specially formed Dutch foundation able to step in and temporarily operate the fields were LetterOne or its owners to become subjects to the EU sanctions, the Secretary of State stated that he would be compelled to order the sale of the fields to a third party, to obviate the risk of health and safety and environmental concerns, if the deal were to proceed4 .Such interventions, criticised by some commentators as being less predictable and a potential dampener on investment, have been few. There is concern as to what a widening of such criteria would mean to the UK’s ability to attract the investment that it will need for critical infrastructure.

The decision by the UK government to give the go ahead for the investment of French and Chinese investors in the Hinkley Point C on 15 September 2016 is therefore of significance beyond that project individually. The decision was made with a nod to the existing national security criteria but went further. In letters exchanged by the major French investor, EdF, and the Secretary of State, further conditions were imposed that outline the shape of an evolving policy to reform the legislative scheme set out in the Enterprise Act 2002. Principally, the foreign investors will not be able to sell significant stakes in the new nuclear projects prior to the completion of construction without UK government consent.  The government also stated that it would would take a “special share” in all future nuclear new build projects in the UK, or will impose similar conditions, with the stated aim of preventing significant stakes being sold without UK government consent. This effectively extends the Enterprise Act 2002 powers of intervention to critical infrastructure projects still in the construction phase. Significantly, the Hinkley Point decision included the important statement that there will be reforms to the Government’s approach to the ownership and control of critical infrastructure to ensure that the full implications of foreign ownership are scrutinised for the purposes of national security. This will include a review of the public interest regime in the Enterprise Act 2002 and the introduction of a national security requirement for continuing Government approval of the ownership and control of critical infrastructure5

The UK government’s announcement of a new industrial policy on 23 January 2017 has added few details but does give some general indications of direction that point towards models used in other Commonwealth countries for the evaluation of the benefits of FDI projects6. The green paper is directed more to infrastructure investment as a driver for inward investment, rather than either investment control or inward investment in critical infrastructure. A potential early bellwether opportunity has been passed up on the £5bn acquisition of National Grid’s gas distribution business by a Sino-Australian consortium struck in December 2016. UK government officials indicated that the National Grid disposal was unlikely to face new obstacles because the review of the rules governing the sale of critical infrastructure as announced by the Hinkley Point C decision on15 September 2016, had not yet been completed. Downing Street has said the National Grid deal would be subject to existing processes and checks and the government would determine how those might be strengthened for future deals in due course7. In simple terms, there is not yet a settled position. 

What then might that reform entail?

Some models for a wider foreign investment control regime

Although the competition authorities of a number of jurisdictions have expressed a preference for a rules-based system of merger control that does not take into account industrial policy or non-competition considerations, it is a reality that the governments of many major economies retain the power to intervene on the grounds that a merger presents a threat to national security on a much wider basis than the UK. It is also notable how these governments have refined the criteria around how they exercise those powers, with a view to safeguarding the national interest whilst competing to attract critical infrastructure investment.

The “Canada model” has been cited by a number of commentators, and some UK politicians, as a possible model for the UK foreign trade model in the future, following the signature of the EU-Canada Comprehensive Economic and Trade Agreement (“CETA”) on 30 October 20168. Canada retains a foreign investment control regime in the form of the Investment Canada Act. This regime operates on a national level, albeit now at reduced thresholds with its free trade partners, notwithstanding both the CETA and the North American Free Trade Agreement. In the Canadian regime, there are lower thresholds for reviewing an acquisition of control of Canadian businesses involved in cultural industries, financial services, transportation services, and uranium production. Although there is no specific provision on foreign state-owned enterprises (“SOEs”), debate around this subject caused a high profile bid by China Minmetals for Noranda, a major mining company, to fail in 2004. In its approval in December 2012 of Petronas’ C$6 billion acquisition of Progress Energy (the owner of a proposed LNG export project on the west coast), and CNOOC’s C$12bn takeover of Nexen Inc., the Canadian government indicated a clear preference for private foreign investment over investment by SOEs, minority SOE investments over acquisitions of control by SOEs, and a lower tolerance for SOEs acquiring control of leading firms in any sectors of Canada’s economy. It also stated that a foreign SOE acquisition of control over oilsands projects would only be permitted “in exceptional circumstances”. There is therefore a clear move to including industrial policy in the foreign investment control regime, albeit with sufficient legal certainty and implemented in a manner that inspires business confidence in Canada as an investment destination. This contrasts somewhat with a UK policy that has been more ad hoc to date and to the position in Australia where recent decisions have been criticised for creating more investment uncertainty as to which assets are "out of bounds".

Elsewhere in the Commonwealth, similar legislation exists in Australia in the form of the Foreign Acquisitions and Takeovers Act 1975 and the related acts and regulations administered by the Foreign Investment Review Board. The Australian regime has been substantially overhauled in 2015 and 2016 bringing in stricter review and penalties for infringement, with a particular focus on Australian food security by a strengthening of the control over foreign investment in agricultural land9.   On 23 January 2017, the Australian government tightened the security review scrutiny of investment in critical infrastructure following concerns over the lease of Darwin Port to Chinese investors and the blocking of a proposed Chinese takeover of the Ausgrid power network. The security reviews will be conducted by a new Critical Infrastructure Centre within the attorney-general’s office, which the government said would "provide greater certainty and clarity to investors and industry on the types of assets that will attract national security scrutiny". For the time being, this covers energy, water and ports10.  New Zealand has the Overseas Investment Act 2005 administered by the Overseas Investment Office. This regime has also grown out of a regime on the foreign ownership of sensitive land and fishing grounds, taking into account the history of New Zealand’s founding cultures and has evolved to cover foreign involvement in major business interests11.

These regimes shine some light on the direction that UK investment policy might move during the upcoming review of the Enterprise Act 2002 regime.

Concluding thoughts

No major economy wishes to become a less competitive destination for major investment in critical infrastructure. The Canadian example is instructive in that a lurch towards protectionism and unclear regulatory criteria was successfully resisted. After the substantial political pressure that followed the China Minmetals deal failure in 2004, the Canadian government had been under strong political pressure to introduce restrictive measures on state-owned enterprises, which were tabled in a proposed Bill C-59 that was never approved. More specific and nuanced criteria around national security and state-owned enterprises were later announced only in conjunction the successful approval of two major investments in critical energy infrastructure (CNOOC and Petronas). Additionally, acquisitions by SOEs which do not confer control may well be subject to review under the national security jurisdiction but are not reviewed under the Canadian SOE guidelines. When compared with the almost limitless jurisdiction of CFIUS regulators in the United States and the much wider meaning of “control”, the benefit of the much clearer regulatory guidelines in Canada is quickly apparent in the number of major energy transactions concluded.   The UK now has the opportunity to enter into sector specific agreements with other countries which may address concerns over "parity", as well as creating opportunities for UK investors in overseas critical infrastructure12.

The UK’s critical energy infrastructure is not a closed system, and nothing symbolises this more than the gas and power interconnectors. Many of the concepts integral to the concept of the Energy Union had their genesis in the UK, not least the internal energy market, open access to infrastructure and competition in energy markets. These will continue to be a reality in some form during and after the UK’s renegotiation of its trade relationship with Europe, whether by dint of parallel implementation in UK legislation and regulation or through the existence of parallel pan-European energy structures13. It will therefore be important to any expansion of UK national security criteria to remain discrete from the considerations that affect competition and markets review of merger control. The sheer cost and environmental risk of nuclear projects may justify a form of government control through golden shares much as safety and environmental concerns in the North Sea may require intervention, however regulators and governments also need to be receptive to solutions proposed by foreign investors to achieve these aims, in order to ensure the benefits of competition and the free movement of capital.

One core aspect of the Hinkley decision was clearly the creation of excess capacity in an electricity-dependent economy that is already capacity constrained. Competitive producers have no market incentive to create this excess capacity which has a social and wider economic value because, in the government’s assessment, cuts in supply are more costly to the economy as a whole than the cost of acquiring this excess capacity14 . The government therefore seeks, in buying that capacity through generous off-take guarantees, to impose conditions that safeguard this public investment. In this context, it is worth noting the part of the Hinkley announcement that states that the new legal framework for future foreign investment in Britain’s critical infrastructure will include (and will therefore not be limited to) nuclear energy. One can see how new transmission capacity, gas and power interconnectors and the next transportation fuel infrastructure (whether gas or electric) could give rise to similar considerations. Clear criteria around the nature and benefit of the investment being made rather than a focus on the nature of those able to provide the necessary size of investment (which may include foreign pension and wealth funds or state-owned enterprises) could entail a “net benefit” test. An assessment of the “net benefit to the UK” might therefore involve an assessment of the effect of the investment on the level of economic activity, on employment, on the utilisation of parts, components and services produced in the UK and the contribution of the investment to the UK’s ability to compete in world markets.  Such an approach may be more workable in the UK context, where there is already substantial foreign involvement in critical infrastructure,  and is not obviously at odds with the industry policy green paper of 23 January 2017.




2There is an informal process for clearance from the Ministry of Defence for any investment or divestment where there is a contract in place with the MoD, although these rules are not in the public domain.

3Hydrocarbons (Temporary Management Scheme) Regulations 2013.



6, see p.85 for a reference to qualitative “net benefit” test linked to economic growth in the immediate geographic area of an investment. 



9National Grid to sell 61% of gas business to Sino-Australian group, Financial Times, 8 December 2016

10 “Australia bolsters protection of strategic assets”, Financial Times, 23 January 2017


12This approach has been criticised in the realm of trade but is not an uncommon approach where investment is concerned: ”This Vision of post-Brexit trade puzzles experts”, Financial Times, 22 January 2017. There are a number of examples, from the nuclear energy sector specific agreements of the US with India (permissive) and Iran (restrictive) to a range of agreements entered into by the EU (e.g. EU-Azerbaijan agreement on energy cooperation or the Energy Community Treaty which includes Ukraine, Moldova, Turkey, Georgia and the non-EU countries of SE Europe).

13The EU acquis on gas already applies through EFTA and the Energy Community to integrating energy markets in non-EU Europe and the Caucasus.

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.

© Orrick, Herrington & Sutcliffe LLP | Attorney Advertising

Written by:

Orrick, Herrington & Sutcliffe LLP

Orrick, Herrington & Sutcliffe LLP 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 (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

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 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 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 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

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:

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at (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
  • New Relic - For more information on New Relic cookies, please visit
  • Google Analytics - For more information on Google Analytics cookies, visit To opt-out of being tracked by Google Analytics across all websites visit 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 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:

- 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.