In September 2020, we discussed the Epic Games vs. Apple (and Google) case in our blog post. To cut a long story short, Epic Games introduced a new payment system for its best-selling mobile game, Fortnite, offering an alternative in-app purchase method. The new payment system bypasses the 30 %...
Despite the global pandemic, records are being broken in the Finnish startup community Last year, Finnish startups attracted a record-breaking amount of funding. The growth funding raised by domestic startup companies almost doubled compared to the previous years. The total amount invested in Finnish startups in 2020 was EUR 951...
GameRefinery, a Finnish leading gaming analytics company, was acquired by a mobile performance advertising platform Vungle at the beginning of March. GameRefinery provides game developers and publishers with tools to commercialize their games and to understand the elements of a successful mobile game. The company’s constantly growing service database already covers...
Artificial Intelligence is considered to be the 5th Industrial Revolution and AI is changing permanently both how people and companies operate and interact. Computer vision and speech recognition are areas within AI that require, in addition to the algorithms, a large amount of training data such as images and recorded speech....
There are many specific questions in the field of labor law that startup companies should take into account gladly already when planning the actions of the company. In the beginning, the financial resources of the company can be limited, and the need for permanent employees can vary from time to...
The reform of the taxation of employee share issues was finally confirmed at the end of 2020 and it entered into force on the 1st of January 2021. The new amendments to the Income Tax Act do not only clarify current valuation issues, but also provide opportunities to engage personnel...
The new notification requirements, based on the Money Laundering Act and EU directives, requires a company or organisation to identify its beneficial owners, notify their information for registration in the Trade Register by 1 July 2020 and keep their details up to date. The notification requirements apply to most of...
In brief: Force majeure means a surprising and unpredictable circumstance that has occurred to a party of a contract that prevents the fulfillment of the contractual obligation. A distinction must be made between the coronavirus pandemic and the subsequent actions of the authorities. Although a coronavirus pandemic may not in itself constitute...
What? The Finnish Act on Virtual Currency Providers (572/2019) that entered into force on 1st of May 2019 imposes obligations on virtual currency providers, such as; registration with the Financial Supervisory Authoritycompliance with the Act on the Prevention of Money Laundering and Terrorist Financingto include the customer accounts to the...
Finnish startups are surprisingly weak at taking care of their contractual issues. Risks are not identified, and even the most important contracts are often not up to par. New online tools can help to make legally binding contracts and accelerate the negotiations. “If you are engaging in business, get a...
