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As businesses press reset, enter into joint partnerships, and restructure with a view to reducing costs, consolidating resources, and improving economies of scale—technology is taking center stage.
A non-disclosure agreement (NDA) is a legal contract between at least two parties to protect any type of confidential and proprietary information, trade secrets or non-public business information from third parties. It is also referred to as a confidentiality agreement, confidential disclosure agreement, proprietary information agreement or secrecy agreement.
ARE YOU PREPARED FOR CCPA?
While autonomous vehicles are set to redefine the automotive world, some market observers and automotive executives strongly believe that the AV-technology has a long road ahead before it will be truly reliable.[1]
This column was inspired by a discussion among the co-authors about the plethora of new technology tools, services, and applications that have been brought to market. We have all been familiar with some of the basic tools (some of us remember when electronic document comparisons of versions were considered new), but so many new options are coming on to the landscape that this review may be helpful. We are not going to talk about or recommend specific products to you, but resources are easy to find and consultants are available to assist as well.
The Fair Labor Standards Act (FLSA) has provisions with respect to overtime pay which require the employers to pay non-exempt employees an overtime pay for all hours exceeding forty hours in a workweek at a rate not less than one and one-half timestheir regular rates of pay. However, the Act exempts several classifications of employees from the overtime provisions. Although some states have adopted the federal overtime pay that the FLSA mandates, the nature of overtime laws tends to vary between the various states, as many states have passed their own independent and unique versions.
Automotive manufacturers in the United States have been increasingly at the receiving end of lawsuits ensuing from injuries and damages associated with their products. Plaintiffs frequently file lawsuits against these manufacturers due to repercussions from (i) poor quality of the automobile, (ii) inadequate care taken during manufacture, (iii) inefficient marketing strategy and (iv) below standard manufacturer responses to claims for injuries. Historical data has proven that Original Equipment Manufacturers (OEM) will face heightened warranty expenses this year while suppliers may have to contribute a greater per-vehicle percentage to these expenses [1] . The recent spike in negotiation and disputes in the automotive industry are also a result of improved ease in making warranty claims and bringing unresolved warranty cases to local courts.
In a world weaned on apps and social media, both new and existing car customers are looking to leverage their vehicles’ connectivity features beyond Apple CarPlay and Android Auto. According to various McKinsey studies, more than a third of car drivers said they would switch car brands to take advantage of improved app offerings, connectivity options, and technology features. These studies also revealed that nearly 40% of all car drivers and 47% of premium car brand owners intend to unlock their vehicles’ connectivity and technology features after purchasing. This trend presents a fantastic revenue opportunity for OEMs and vehicle brands to offset pandemic-related revenue problems, as McKinsey predicts the automotive data industry to be worth between $450 billion and $750 billion by 2030.
Following a range of notable data breaches at organizations such as Equifax and Cambridge Analytica, international blocs, countries and even individual U.S. states are stepping up to the plate with data privacy protection laws. As cars are quickly becoming “vehicles” for data collection as well as traveling, companies in the auto industry will need to ensure that they are storing their customers’ geolocational travel information, biometric data, and payment information in ways that achieve compliance with pertinent data security laws. This whitepaper will go over the key U.S. and international regulations governing data security for automobile companies, along with steps and considerations they should account for to ensure compliance.
The US government regularly enters into contracts with private parties, many of which are often prone to fraud as the parties could be inclined to make a profit by advancing fraudulent claims.As exposing these illicit activities is crucial for having a corruption-free government, the Congress has developed many statutory frameworks to facilitate “whistleblowing” i.e. the act of shining light on a company’s fraudulent activities.