Cravath’s New York Office Moves to Two Manhattan West
David J. Kappos is Co-Chair of the Intellectual Property Practice. He is widely recognized as one of the world’s foremost leaders in the field of intellectual property, including intellectual property management and strategy, the development of global intellectual property norms, laws and practices as well as commercialization and enforcement of innovation‑based assets. Mr. Kappos supports Cravath’s clients with a wide range of their most complex intellectual property issues, including those pertaining to blockchain, cryptoassets and fintech, as well as data security and privacy.
From August 2009 to January 2013, Mr. Kappos served as Under Secretary of Commerce and Director of the United States Patent and Trademark Office (USPTO). In that role, he advised the President, the Secretary of Commerce and the Administration on intellectual property policy matters. As Director of the USPTO, he led the Agency in dramatically re‑engineering its entire management and operational systems as well as its engagement with the global innovation community. He was instrumental in achieving the greatest legislative reform of the U.S. patent system in generations through passage and implementation of the Leahy‑Smith America Invents Act, signed into law by President Obama in September 2011.
Prior to leading the USPTO, Mr. Kappos held several executive posts in the legal department of IBM, including litigation counsel, Asia Pacific IP counsel and, from 2003 to 2009, Vice President and Chief Intellectual Property Lawyer responsible for all patent, trademark, copyright and trade secret matters worldwide.
Mr. Kappos’s notable matters include representing:
Mr. Kappos has received numerous accolades for his contributions to the field of intellectual property, including, among others, the 2014 Global Agenda Council Vision Award for the Intellectual Property Council’s pro bono initiative from the World Economic Forum, the 2014 Jefferson Medal from the New Jersey Intellectual Property Law Association (NJIPLA), the 2013 Board of Director’s Excellence Award from the American Intellectual Property Law Association (AIPLA), the 2013 Champion of Intellectual Property Award from the District of Columbia Bar Association and the 2013 North America Government Leadership Award from Semiconductor Equipment and Materials International (SEMI). He was also honored as the inaugural recipient of IPWatchdog’s Paul Michel Award in 2021. Mr. Kappos was named one of the “Top 25 Icons of IP” by Law360, one of the “50 Most Influential People in Intellectual Property” and the “Outstanding Practitioner of the Year in IP Transactions” by Managing IP, one of the “Top 50 Intellectual Property Trailblazers & Pioneers” and one of the “100 Most Influential Lawyers in America” by The National Law Journal, “Intellectual Property Professional of the Year” by the Intellectual Property Owners Association and inducted into the Intellectual Property Hall of Fame by Intellectual Asset Management Magazine in 2012. Mr. Kappos was also recognized as a leading lawyer by IAM Global Leaders, IAM Strategy 300, IAM Patent 1000, World IP Review, The Legal 500 US, Who’s Who Legal: Patents, LMG Life Sciences, Lawdragon, Super Lawyers and The Best Lawyers in America. He is a frequent speaker and has authored many published articles on various intellectual property, innovation and leadership topics.
Mr. Kappos serves on the Boards of Directors of the Partnership for Public Service, the Center for Global Enterprise and the Intellectual Property Owners Education Foundation and on the Advisory Board for C‑IP2. He is the Chair of the Advisory Council of the Naples Roundtable and is a Co‑Chair of the Best Practices in Intellectual Property Conference. He is also an Adjunct Professor at Cornell Law School, where he co‑teaches a class entitled “High Growth Transactions.”
Mr. Kappos was born in Palos Verdes, California. He received a B.S. summa cum laude in Electrical and Computer Engineering from the University of California, Davis in 1983 and a J.D. from the University of California, Berkeley in 1990.
From August 2009 to January 2013, Mr. Kappos served as Under Secretary of Commerce and Director of the United States Patent and Trademark Office (USPTO). In that role, he advised the President, the Secretary of Commerce and the Administration on intellectual property policy matters. As Director of the USPTO, he led the Agency in dramatically re‑engineering its entire management and operational systems as well as its engagement with the global innovation community. He was instrumental in achieving the greatest legislative reform of the U.S. patent system in generations through passage and implementation of the Leahy‑Smith America Invents Act, signed into law by President Obama in September 2011.
Prior to leading the USPTO, Mr. Kappos held several executive posts in the legal department of IBM, including litigation counsel, Asia Pacific IP counsel and, from 2003 to 2009, Vice President and Chief Intellectual Property Lawyer responsible for all patent, trademark, copyright and trade secret matters worldwide.
Mr. Kappos’s notable matters include representing:
Mr. Kappos has received numerous accolades for his contributions to the field of intellectual property, including, among others, the 2014 Global Agenda Council Vision Award for the Intellectual Property Council’s pro bono initiative from the World Economic Forum, the 2014 Jefferson Medal from the New Jersey Intellectual Property Law Association (NJIPLA), the 2013 Board of Director’s Excellence Award from the American Intellectual Property Law Association (AIPLA), the 2013 Champion of Intellectual Property Award from the District of Columbia Bar Association and the 2013 North America Government Leadership Award from Semiconductor Equipment and Materials International (SEMI). He was also honored as the inaugural recipient of IPWatchdog’s Paul Michel Award in 2021. Mr. Kappos was named one of the “Top 25 Icons of IP” by Law360, one of the “50 Most Influential People in Intellectual Property” and the “Outstanding Practitioner of the Year in IP Transactions” by Managing IP, one of the “Top 50 Intellectual Property Trailblazers & Pioneers” and one of the “100 Most Influential Lawyers in America” by The National Law Journal, “Intellectual Property Professional of the Year” by the Intellectual Property Owners Association and inducted into the Intellectual Property Hall of Fame by Intellectual Asset Management Magazine in 2012. Mr. Kappos was also recognized as a leading lawyer by IAM Global Leaders, IAM Strategy 300, IAM Patent 1000, World IP Review, The Legal 500 US, Who’s Who Legal: Patents, LMG Life Sciences, Lawdragon, Super Lawyers and The Best Lawyers in America. He is a frequent speaker and has authored many published articles on various intellectual property, innovation and leadership topics.
Mr. Kappos serves on the Boards of Directors of the Partnership for Public Service, the Center for Global Enterprise and the Intellectual Property Owners Education Foundation and on the Advisory Board for C‑IP2. He is the Chair of the Advisory Council of the Naples Roundtable and is a Co‑Chair of the Best Practices in Intellectual Property Conference. He is also an Adjunct Professor at Cornell Law School, where he co‑teaches a class entitled “High Growth Transactions.”
Mr. Kappos was born in Palos Verdes, California. He received a B.S. summa cum laude in Electrical and Computer Engineering from the University of California, Davis in 1983 and a J.D. from the University of California, Berkeley in 1990.
International Bar Association
American Intellectual Property Law Association
Intellectual Property Owners Association
Best Practices in Intellectual Property Conference
Center for Global Enterprise
Center for Intellectual Property x Innovation Policy (C-IP2)
Intellectual Property Owners Educational Foundation
Partnership for Public Service
World Economic Forum’s Global Agenda Council on the Economics of Innovation
Naples Roundtable
Best Lawyers in America
Euromoney Legal Media Group
Intellectual Asset Management
Law360
Lawdragon
The Legal 500 US
Managing Intellectual Property
The National Law Journal
Super Lawyers - New York
Who’s Who Legal
World IP Review
Board of Director’s Excellence Award, American Intellectual Property Law Association (AIPLA), 2013
Champion of Intellectual Property Award, District of Columbia Bar Association, 2013
IP Professional of the Year Award, Intellectual Property Owners Association, 2011
Jefferson Medal, New Jersey Intellectual Property Law Association (NJIPLA), 2014
Law360 Distinguished Legal Writing Award, The Burton Awards, 2018
North America Government Leadership Award, Semiconductor Equipment and Materials International (SEMI), 2013
Paul Michel Award, IPWatchdog, 2021
Deals & Cases
November 19, 2024
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
November 13, 2024
On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.
Deals & Cases
November 04, 2024
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
October 04, 2024
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
July 08, 2024
On July 7, 2024, Paramount Global (“Paramount”), a leading global media, streaming and entertainment company, and Skydance Media (“Skydance”), a diversified media company founded to create high-quality, event-level entertainment for global audiences, announced that they have entered into a definitive agreement to form “New Paramount,” a next-generation media and technology leader, through a two-step transaction including the acquisition of National Amusements, Inc. (“NAI”), which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount. Under the terms of the agreement, which has been approved by the Paramount Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors, and by NAI, Skydance will merge with Paramount in a transaction valuing New Paramount at an enterprise value of approximately $28 billion. Existing Skydance investors will receive 317 million newly issued Class B shares in New Paramount valuing Skydance at $4.75 billion based on $15 per Paramount Class B share. The Skydance Investor Group will invest up to $6 billion in offers to Class A and Class B stockholders, and use the additional capital to paydown debt and re-capitalize the balance sheet of New Paramount. NAI and its owners have entered into a definitive agreement to sell NAI to Skydance IG for $2.4 billion on a cash-free, debt-free basis. Cravath is representing the Paramount Special Committee in connection with the agreement.
Activities
November 21, 2024
On November 21, 2024, Cravath partner David J. Kappos was named to IAM’s 2025 list of Strategy 300 Global Leaders. The list recognizes “the top experts in the IP world” whose “approach to intellectual property is regarded by peers as truly strategic in nature.” Inclusion in the list is based on a combination of peer nominations and editorial research.
Publications
October 28, 2024
On October 25, 2024, Cravath published an article by partners D. Scott Bennett, Benjamin Gruenstein, David J. Kappos, Evan Norris, Ryan J. Patrone, Elad Roisman and Sasha Rosenthal‑Larrea, in collaboration with Jason Trager, Senior Director of Blockchain & Digital Assets at FTI Technology, entitled “Bringing Blockchain Due Diligence into Focus Alongside Uptick in Strategic Dealmaking.” The article discusses the renewed momentum around blockchain and digital assets, predicting an increase in deal activity including M&A transactions and joint ventures going into 2025, and explores the key elements that dealmaking teams should consider when conducting due diligence for these transactions.
Activities
October 25, 2024
On October 25, 2024, Cravath partner David J. Kappos spoke at the American Intellectual Property Law Association’s 2024 Annual Meeting, which was held from October 24‑26 in National Harbor, Maryland. The meeting brought together global intellectual property practitioners from corporations, law firms, government and academia. Dave spoke on two panels, entitled “Overview of March‑In Rights Under the Bayh‑Dole Act and Current Policy Activities Relating to Exercise of March‑In Rights” and “Harmonization - Status of Substantive Harmonization in 45 Minutes.”
Activities
August 28, 2024
On August 28, 2024, Cravath partner David J. Kappos participated in the 2024 Global Forum on Intellectual Property, which was hosted by the Intellectual Property Office of Singapore from August 27‑28, 2024, in Singapore. Dave spoke on a panel entitled “The Crossroads of IP: Man or Machine in the Age of AI?,” which reviewed the multifaceted issues confronting the IP system in the age of artificial intelligence, including whether it is tenable for the IP system to continue supporting AI innovation while holding on to the tenet that only human beings can be inventors, designers, authors and creators.
Publications
July 19, 2024
On July 16, 2024, Cravath published the third edition of its Cravath Data Privacy and Security Review newsletter, which provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in the data privacy and security field for the first six months of 2024. The Review provides an update on emerging and existing privacy and security legislation at the federal level, including the American Privacy Rights Act, and highlights notable legislative developments at the state level across the country. This edition also highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission and Securities and Exchange Commission, and provides global enforcement updates from China, the European Union, Germany and Chile.
David J. Kappos is Co-Chair of the Intellectual Property Practice. He is widely recognized as one of the world’s foremost leaders in the field of intellectual property, including intellectual property management and strategy, the development of global intellectual property norms, laws and practices as well as commercialization and enforcement of innovation‑based assets. Mr. Kappos supports Cravath’s clients with a wide range of their most complex intellectual property issues, including those pertaining to blockchain, cryptoassets and fintech, as well as data security and privacy.
From August 2009 to January 2013, Mr. Kappos served as Under Secretary of Commerce and Director of the United States Patent and Trademark Office (USPTO). In that role, he advised the President, the Secretary of Commerce and the Administration on intellectual property policy matters. As Director of the USPTO, he led the Agency in dramatically re‑engineering its entire management and operational systems as well as its engagement with the global innovation community. He was instrumental in achieving the greatest legislative reform of the U.S. patent system in generations through passage and implementation of the Leahy‑Smith America Invents Act, signed into law by President Obama in September 2011.
Prior to leading the USPTO, Mr. Kappos held several executive posts in the legal department of IBM, including litigation counsel, Asia Pacific IP counsel and, from 2003 to 2009, Vice President and Chief Intellectual Property Lawyer responsible for all patent, trademark, copyright and trade secret matters worldwide.
Mr. Kappos’s notable matters include representing:
Mr. Kappos has received numerous accolades for his contributions to the field of intellectual property, including, among others, the 2014 Global Agenda Council Vision Award for the Intellectual Property Council’s pro bono initiative from the World Economic Forum, the 2014 Jefferson Medal from the New Jersey Intellectual Property Law Association (NJIPLA), the 2013 Board of Director’s Excellence Award from the American Intellectual Property Law Association (AIPLA), the 2013 Champion of Intellectual Property Award from the District of Columbia Bar Association and the 2013 North America Government Leadership Award from Semiconductor Equipment and Materials International (SEMI). He was also honored as the inaugural recipient of IPWatchdog’s Paul Michel Award in 2021. Mr. Kappos was named one of the “Top 25 Icons of IP” by Law360, one of the “50 Most Influential People in Intellectual Property” and the “Outstanding Practitioner of the Year in IP Transactions” by Managing IP, one of the “Top 50 Intellectual Property Trailblazers & Pioneers” and one of the “100 Most Influential Lawyers in America” by The National Law Journal, “Intellectual Property Professional of the Year” by the Intellectual Property Owners Association and inducted into the Intellectual Property Hall of Fame by Intellectual Asset Management Magazine in 2012. Mr. Kappos was also recognized as a leading lawyer by IAM Global Leaders, IAM Strategy 300, IAM Patent 1000, World IP Review, The Legal 500 US, Who’s Who Legal: Patents, LMG Life Sciences, Lawdragon, Super Lawyers and The Best Lawyers in America. He is a frequent speaker and has authored many published articles on various intellectual property, innovation and leadership topics.
Mr. Kappos serves on the Boards of Directors of the Partnership for Public Service, the Center for Global Enterprise and the Intellectual Property Owners Education Foundation and on the Advisory Board for C‑IP2. He is the Chair of the Advisory Council of the Naples Roundtable and is a Co‑Chair of the Best Practices in Intellectual Property Conference. He is also an Adjunct Professor at Cornell Law School, where he co‑teaches a class entitled “High Growth Transactions.”
Mr. Kappos was born in Palos Verdes, California. He received a B.S. summa cum laude in Electrical and Computer Engineering from the University of California, Davis in 1983 and a J.D. from the University of California, Berkeley in 1990.
From August 2009 to January 2013, Mr. Kappos served as Under Secretary of Commerce and Director of the United States Patent and Trademark Office (USPTO). In that role, he advised the President, the Secretary of Commerce and the Administration on intellectual property policy matters. As Director of the USPTO, he led the Agency in dramatically re‑engineering its entire management and operational systems as well as its engagement with the global innovation community. He was instrumental in achieving the greatest legislative reform of the U.S. patent system in generations through passage and implementation of the Leahy‑Smith America Invents Act, signed into law by President Obama in September 2011.
Prior to leading the USPTO, Mr. Kappos held several executive posts in the legal department of IBM, including litigation counsel, Asia Pacific IP counsel and, from 2003 to 2009, Vice President and Chief Intellectual Property Lawyer responsible for all patent, trademark, copyright and trade secret matters worldwide.
Mr. Kappos’s notable matters include representing:
Mr. Kappos has received numerous accolades for his contributions to the field of intellectual property, including, among others, the 2014 Global Agenda Council Vision Award for the Intellectual Property Council’s pro bono initiative from the World Economic Forum, the 2014 Jefferson Medal from the New Jersey Intellectual Property Law Association (NJIPLA), the 2013 Board of Director’s Excellence Award from the American Intellectual Property Law Association (AIPLA), the 2013 Champion of Intellectual Property Award from the District of Columbia Bar Association and the 2013 North America Government Leadership Award from Semiconductor Equipment and Materials International (SEMI). He was also honored as the inaugural recipient of IPWatchdog’s Paul Michel Award in 2021. Mr. Kappos was named one of the “Top 25 Icons of IP” by Law360, one of the “50 Most Influential People in Intellectual Property” and the “Outstanding Practitioner of the Year in IP Transactions” by Managing IP, one of the “Top 50 Intellectual Property Trailblazers & Pioneers” and one of the “100 Most Influential Lawyers in America” by The National Law Journal, “Intellectual Property Professional of the Year” by the Intellectual Property Owners Association and inducted into the Intellectual Property Hall of Fame by Intellectual Asset Management Magazine in 2012. Mr. Kappos was also recognized as a leading lawyer by IAM Global Leaders, IAM Strategy 300, IAM Patent 1000, World IP Review, The Legal 500 US, Who’s Who Legal: Patents, LMG Life Sciences, Lawdragon, Super Lawyers and The Best Lawyers in America. He is a frequent speaker and has authored many published articles on various intellectual property, innovation and leadership topics.
Mr. Kappos serves on the Boards of Directors of the Partnership for Public Service, the Center for Global Enterprise and the Intellectual Property Owners Education Foundation and on the Advisory Board for C‑IP2. He is the Chair of the Advisory Council of the Naples Roundtable and is a Co‑Chair of the Best Practices in Intellectual Property Conference. He is also an Adjunct Professor at Cornell Law School, where he co‑teaches a class entitled “High Growth Transactions.”
Mr. Kappos was born in Palos Verdes, California. He received a B.S. summa cum laude in Electrical and Computer Engineering from the University of California, Davis in 1983 and a J.D. from the University of California, Berkeley in 1990.
International Bar Association
American Intellectual Property Law Association
Intellectual Property Owners Association
Best Practices in Intellectual Property Conference
Center for Global Enterprise
Center for Intellectual Property x Innovation Policy (C-IP2)
Intellectual Property Owners Educational Foundation
Partnership for Public Service
World Economic Forum’s Global Agenda Council on the Economics of Innovation
Naples Roundtable
Best Lawyers in America
Euromoney Legal Media Group
Intellectual Asset Management
Law360
Lawdragon
The Legal 500 US
Managing Intellectual Property
The National Law Journal
Super Lawyers - New York
Who’s Who Legal
World IP Review
Board of Director’s Excellence Award, American Intellectual Property Law Association (AIPLA), 2013
Champion of Intellectual Property Award, District of Columbia Bar Association, 2013
IP Professional of the Year Award, Intellectual Property Owners Association, 2011
Jefferson Medal, New Jersey Intellectual Property Law Association (NJIPLA), 2014
Law360 Distinguished Legal Writing Award, The Burton Awards, 2018
North America Government Leadership Award, Semiconductor Equipment and Materials International (SEMI), 2013
Paul Michel Award, IPWatchdog, 2021
Deals & Cases
November 19, 2024
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
November 13, 2024
On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.
Deals & Cases
November 04, 2024
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
October 04, 2024
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
July 08, 2024
On July 7, 2024, Paramount Global (“Paramount”), a leading global media, streaming and entertainment company, and Skydance Media (“Skydance”), a diversified media company founded to create high-quality, event-level entertainment for global audiences, announced that they have entered into a definitive agreement to form “New Paramount,” a next-generation media and technology leader, through a two-step transaction including the acquisition of National Amusements, Inc. (“NAI”), which holds the controlling share stake in Paramount, and subsequently a merger of Skydance and Paramount. Under the terms of the agreement, which has been approved by the Paramount Board of Directors, acting on the unanimous recommendation of the Special Committee of independent directors, and by NAI, Skydance will merge with Paramount in a transaction valuing New Paramount at an enterprise value of approximately $28 billion. Existing Skydance investors will receive 317 million newly issued Class B shares in New Paramount valuing Skydance at $4.75 billion based on $15 per Paramount Class B share. The Skydance Investor Group will invest up to $6 billion in offers to Class A and Class B stockholders, and use the additional capital to paydown debt and re-capitalize the balance sheet of New Paramount. NAI and its owners have entered into a definitive agreement to sell NAI to Skydance IG for $2.4 billion on a cash-free, debt-free basis. Cravath is representing the Paramount Special Committee in connection with the agreement.
Activities
November 21, 2024
On November 21, 2024, Cravath partner David J. Kappos was named to IAM’s 2025 list of Strategy 300 Global Leaders. The list recognizes “the top experts in the IP world” whose “approach to intellectual property is regarded by peers as truly strategic in nature.” Inclusion in the list is based on a combination of peer nominations and editorial research.
Publications
October 28, 2024
On October 25, 2024, Cravath published an article by partners D. Scott Bennett, Benjamin Gruenstein, David J. Kappos, Evan Norris, Ryan J. Patrone, Elad Roisman and Sasha Rosenthal‑Larrea, in collaboration with Jason Trager, Senior Director of Blockchain & Digital Assets at FTI Technology, entitled “Bringing Blockchain Due Diligence into Focus Alongside Uptick in Strategic Dealmaking.” The article discusses the renewed momentum around blockchain and digital assets, predicting an increase in deal activity including M&A transactions and joint ventures going into 2025, and explores the key elements that dealmaking teams should consider when conducting due diligence for these transactions.
Activities
October 25, 2024
On October 25, 2024, Cravath partner David J. Kappos spoke at the American Intellectual Property Law Association’s 2024 Annual Meeting, which was held from October 24‑26 in National Harbor, Maryland. The meeting brought together global intellectual property practitioners from corporations, law firms, government and academia. Dave spoke on two panels, entitled “Overview of March‑In Rights Under the Bayh‑Dole Act and Current Policy Activities Relating to Exercise of March‑In Rights” and “Harmonization - Status of Substantive Harmonization in 45 Minutes.”
Activities
August 28, 2024
On August 28, 2024, Cravath partner David J. Kappos participated in the 2024 Global Forum on Intellectual Property, which was hosted by the Intellectual Property Office of Singapore from August 27‑28, 2024, in Singapore. Dave spoke on a panel entitled “The Crossroads of IP: Man or Machine in the Age of AI?,” which reviewed the multifaceted issues confronting the IP system in the age of artificial intelligence, including whether it is tenable for the IP system to continue supporting AI innovation while holding on to the tenet that only human beings can be inventors, designers, authors and creators.
Publications
July 19, 2024
On July 16, 2024, Cravath published the third edition of its Cravath Data Privacy and Security Review newsletter, which provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in the data privacy and security field for the first six months of 2024. The Review provides an update on emerging and existing privacy and security legislation at the federal level, including the American Privacy Rights Act, and highlights notable legislative developments at the state level across the country. This edition also highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission and Securities and Exchange Commission, and provides global enforcement updates from China, the European Union, Germany and Chile.
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