snIP/ITs Insights on Canadian Technology and Intellectual Property Law

Monthly Archives: December 2017

SEC issues Cease and Desist Order for ICO and Statement on Cryptocurrencies

Posted in Fintech, Regulatory Compliance

On December 11, 2017, Munchee Inc., a California-based developer of a restaurant app, shut down its initial coin offering (“ICO”) after the Securities and Exchange Commission (“SEC”) issued a Cease and Desist order. SEC Chairman Jay Clayton subsequently issued a statement highlighting the SEC’s general concerns with cryptocurrencies and ICOs. The order and Chairman Clayton’s statement shed new light on whether a token issued in the context of an ICO is a security.… Continue Reading

No Interlocutory Injunction—How About “Terms” Instead?

Posted in Copyright, Intellectual Property, Litigation, Technology License Agreement

Some would say keeping a software license alive by an injunction is like requiring specific performance of a contract – something courts don’t like to do. However, a recent Ontario decision appears to have done about just that, by relying on its discretion to grant “terms” according to Ontario Rule 37.13(1) in extending an interim injunction for six months, despite the plaintiff failing to justify its request for an interlocutory injunction to trial. Continue Reading