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24 January 202315 minute read

Israel Group News January 2023

Welcome to the January 2023 issue of our global newsletter, Israel Group News, aiming to keep you informed about current developments, hot topics for your consideration and DLA Piper activities that focus on bringing the dynamic Israeli ecosystem to your doorstep.

DLA Piper’s Israel Group delivers all the benefits of a global law firm through a team of lawyers committed to the Israeli market. We provide a wide range of innovative legal services to Israeli companies, investors and entrepreneurs, as well as to companies throughout the world seeking opportunities in Israel. We view ourselves as an extension of our clients, and we aim to partner with them for the long term, whether their needs involve day-to-day inquiries, smaller projects, special situations or large-scale transactions.

As we begin a new year, we want to take this opportunity to thank our wonderful clients for your support and the trust you placed in us during 2022. We would also like to thank our invaluable colleagues for the guidance you give to us and our clients, 24/7. We look forward to another successful year ahead in partnership with all of you.

For more general information about the Israel Group, 
click here. To gain more perspective on our trusted advisor practice, the types of day-to-day guidance we provide and our representative client list, click here. To view our promotional video, click here.

do not hesitate to reach out if you have any questions or if we may be helpful in any manner. For new client requests, please send an email to

New Year’s video

Watch our Israeli clients send their best wishes for the holidays and New Year to DLA Piper colleagues around the globe.

Tech Index 2022: Sustainability and ESG

In a short span of time, environment, social and governance (ESG) issues have quickly risen to the top of boardroom agendas in companies across many sectors. However, engagement with ESG agenda varies significantly between companies and sectors. Many companies are focused on compliance at a minimal level, while a few are showing true leadership in this critical area. The divergence of approach is not surprising given that relevant regulation is relatively underdeveloped in many jurisdictions, leaving companies struggling to find their bearings. Click here to download the report.

Tech Index 2022: Fintech

After the monumental boom in fintech investment of recent years, the market entered rough waters in 2022, with growing uncertainty over the financing of young and more mature startups, as well as over the future shape of regulation. Respondents still see fintech as an area of potential growth. Although it appears well down the list of growth areas, the proportion seeing growth opportunities in fintech, even in a more challenging environment, has grown from 33 percent in 2020 to 38 percent in 2022. Click here to read the full Fintech 2022 report.

Top trends impacting global employers: 2022 in review, and a look ahead to 2023

In 2022, many factors – such as COVID-19, geopolitical developments, supply chain and labor issues, and economic uncertainty – challenged businesses and disturbed ways of working for companies worldwide. These are difficult times for employers and these challenges are likely to continue into 2023. Employers and companies are now revising policies to recognize new employee priorities and related legal obligations. To read the report and learn more about what companies are doing to combat these issues, click here.

Client successes

Below are some recently announced transactions involving our Israeli clients which were featured in the press:

Global activities

We are proud to report that, in the fourth quarter of 2022, we commenced projects for over 75 Israeli companies on multiple matters in the following 46 jurisdictions: Argentina, Australia, Belarus, Belgium, Brazil, Canada, China, Colombia, Czech Republic, Denmark, the EU, Finland, France, Georgia, Germany, Greece, Hong Kong, Hungary, India, Ireland, Italy, Japan, KSA, Lithuania, Mexico, Netherlands, New Zealand, Norway, Peru, Philippines, Portugal, Romania, Russia, Singapore, Slovakia, South Africa, South Korea, Spain, Sweden, Switzerland, Turkey, Ukraine, the UAE, the UK, the US and Vietnam.

Below are some new representative matters in which we assisted our Israeli clients around the world:

  • Commercial issues in Brazil, Canada, China, Czech Republic, Denmark, France, Germany, Greece, Finland, Hong Kong, Hungary, India, Ireland, Japan, Lithuania, Mexico, Netherlands, New Zealand, Norway, Romania, Slovakia, Sweden, the UAE, the UK and the US
  • Corporate and securities issues in Belgium, China, Netherlands, South Africa, Sweden, Switzerland, the UAE, the UK and the US
  • Employment and employee benefits guidance in Australia, Belarus, Canada, China, Colombia, Czech Republic, France, Georgia, Germany, Italy, Japan, Netherlands, Peru, Portugal, Russia, Singapore, Spain, Sweden, Ukraine, the UAE, the UK, the US and Vietnam
  • Litigation and dispute guidance in Australia, Canada, Germany, Portugal and the US
  • M&A and investment guidance in Finland, Netherlands, Norway, Spain, Turkey, the UK and the US
  • Patent, trademark and copyright guidance in the EU and the US
  • Privacy guidance and compliance – including with respect to the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) – in Argentina, Czech Republic, the EU, France, Germany, India, Japan, Kingdom of Saudi Arabia, Mexico, South Korea, Spain, the UK and the US
  • Real estate guidance in Australia, Turkey and the US
  • Regulatory issues in Australia, Brazil, Canada, Denmark, the EU, France, Germany, Greece, Hong Kong, India, Japan, KSA, Netherlands, New Zealand, Philippines, Romania, South Korea, Spain, Sweden, the UAE, the UK and the US
  • Tax guidance in Germany, the UK and the US

Colleagues in the spotlight

Tomomi Fujikouge

Tomomi Fujikouge
Of Counsel, Tokyo

Please tell us about your area of practice.

I am in the Intellectual Property and Technology group of DLA Piper Tokyo. My practice focuses on data privacy, licensing, contracts relevant to technologies, e-commerce, telecommunication business regulations and advertising. We help multinational corporations prepare to enter into the Japanese market and do business in Japan. I personally focus on IP issues, including licensing, commercial contracts, advertising and related regulatory matters. I also work on numerous ancillary technology issues arising out of IP/product deployment, ranging from technology procurement and outsourcing to data protection and cybersecurity. I want to help my clients conduct business in Japan while managing any legal risk. IT technology has been changing rapidly, but Japanese laws have not necessarily kept up. I always keep in mind to advise clients around legal risk and also to suggest the best solutions to mitigate risk, even if the relevant laws have not caught up.

What challenges do Israeli companies face when it comes to the Japan market?

There is a language barrier, especially in B2C businesses. It is not mandatory to enter into contracts in Japanese under Japanese law. However, general consumers in Japan do not understand English very well and may not validly agree with contracts written in English. We always recommend preparing contracts and any other legal documents in Japanese to ensure valid agreement with consumers. This is also true for B2B businesses. Japanese companies may accept English contracts, but Israeli companies may face language issues in negotiating contracts with Japanese companies, and it may take longer to conclude agreements than it might in other countries.

If you could travel to Israel next month, what place would be at the top of your list to visit?

I would like to visit Tel Aviv to say hello to my clients and enjoy the beautiful city.

If you could go back to school to study for a degree that is not law related, what would it be?  

It would be music. I wanted to be a pianist or violinist. I plan to pursue both in post-retirement years!

Yoni Tuchman

Yoni Tuchman
Partner, Los Angeles

Please tell us about your area of practice.

I represent sponsors of private equity, venture capital and real estate funds. I help them structure their funds and related entities (for example, GPs and management companies), sell the securities in their funds to investors, negotiate the terms of the funds with investors and advise with respect to the regulatory and operational needs of the funds generally. I help work out the deal among the GPs, including how they share in control and in the various economic streams relating to the funds they manage; help with bringing on other service providers, such as placement agents, fund administrators and other partners; and advise on how to smartly share economics with employees and other team members. 

What challenges do Israeli companies face when it comes to the US market?

Israeli GPs probably have a leg up on raising funds from US investors. First, Israel’s reputation as the “start-up nation” lowers the barrier of entry that other prospective GPs face, at least when it comes to forming VC funds. Second, there are a lot of wealthy US investors who are favorably disposed to Israeli GPs, for religious, historical and cultural reasons. Israeli GPs will need to understand the American investor landscape, which changes pretty dramatically when you move from high net worth and family-office investors to more institutional investors. They will also need to understand the regulatory requirements, market terms and structures US investors will find most familiar and therefore comfortable.

If you could travel to Israel next month, what place would be at the top of your list to visit?

Jerusalem as Friday turns into Shabbat. Hands down.  

What is your favorite TV show right now?

Modern Family.

News from DLA Piper

  • Recent reports indicate that certain Iranian drones supplied to Russia and shot down in Ukraine contain parts and components from aerospace and defense companies of other countries. These companies face significant reputational harm when their parts or components find their way into Iranian military hardware. Here is a brief overview of the foreign direct product rule under the US Export Administration Regulations; US sanctions measures aimed at Iran; and how companies might mitigate diversion risk to Iran.
  • The 38 member countries of the OECD have adopted a groundbreaking framework that will limit how governments may access personal data held by companies. Although not legally binding, the OECD framework could assist companies in transferring personal data to certain jurisdictions. In moving data to OECD countries, businesses could leverage the framework to help justify their decisions, particularly with regulators. Find out more in this alert.
  • As the SEC continues to focus on ESG investing, private fund advisers must understand their existing legal obligations, as well as the possibility for new reporting and disclosure requirements. Private fund advisers are increasingly facing pressure from investors to provide more information with respect to the advisers' ESG-related activities. To learn more, click here.
  • In January 2022, the UK National Security and Investment Act came into force, requiring parties in a transaction to make a mandatory notification if the target is active in 17 sensitive sectors that can potentially give rise to national security concerns. To learn more about the first full year of the UK National Security and Investment Act 2021 and its implications, click here.
  • On December 14, 2022, the US Department of Health and Human Services Office of Civil Rights (OCR) ended the year with another settlement, its 22nd of the year, highlighting how easily social media can get covered entities and their business associates into trouble under Health Insurance Portability and Accountability Act of 1996 (HIPAA). This settlement concluded that a dental practice impermissibly disclosed protected health information (PHI) through social media when it responded to negative online reviews. This settlement serves as a good reminder that – unlike patients who may freely share their own private information in online reviews – covered entities and their business associates are subject to significant limitations under HIPAA when responding to those reviews, whether good or bad. The OCR also released a report on the use of online tracking technologies and HIPAA compliance. Click here to learn how the report impacts all healthcare providers and their business associates that have an online presence and use these types of online tracking programs.

Giving back to the community

In honor of International Volunteer Day in early December, our team volunteered for the fourth time this year at Leket Israel. Leket Israel, the National Food Bank, is the leading food rescue organization in Israel. In total, the DLA Piper team sorted and packaged 750kg of apples that were to be delivered to 360 families in need. In honor of Chanukah (December 19-26), we donated to eight worthy charitable organizations, one for each day of the holiday. Click on the links below for the full posts, including photos.

  • For the first day of Chanukah, we donated to Simcha Layeled, an organization dedicated to improving the quality of life for thousands of disabled and seriously ill children in hospitals and rehabilitation centers throughout Israel. We sponsored a game station, craft stations, a magician and donuts for the children to enjoy.
  • For the second day of Chanukah, we donated to Save a Child's Heart, an Israeli humanitarian organization that saves the lives of critically ill children suffering from heart disease in countries where access to pediatric heart care is limited or nonexistent. Prior to the holiday, our team and some wonderful clients packaged gifts for the children currently being treated in Israel.
  • For the third day of Chanukah, we donated Chanukah packages and donut decorating kits to Kav L'Noar’s school program. Kav L’Noar is a mental health organization that motivates youth at risk to become productive and responsible young adults and helps implement a holistic family-system model to promote positive change in the lives of them and their families.
  • For the fourth day of Chanukah, we co-sponsored a Chanukah party at Shalva National Center, the Israel Association for the Care and Inclusion of Persons with Disabilities. This organization is dedicated to providing transformative care for individuals with disabilities, empowering their families and promoting social inclusion. We were thrilled to have some members of our team join in the fun at this amazing event.
  • For the fifth day of Chanukah, we donated two walkers and a wheelchair to Yad Sarah, an organization that lends out medical equipment and does so much for individuals and families across Israel. Every year, Yad Sarah helps over 780,000 people get the medical support they need – from crutches and nursing equipment to home hospital beds and transportation for people in wheelchairs.
  • For the sixth day of Chanukah, we donated to the Koby Mandell Foundation, an organization that helps bereaved parents, widows, orphans and siblings who have lost loved ones due to a tragedy to rebuild their lives. This year we contributed to a three-day Chanukah camp in Eilat for approximately 300 children, ages 6 to 18, who have each lost an immediate family member.
  • For the seventh day of Chanukah, we donated to Lifeline for the Old/Yad LaKashish, whose mission is to give Jerusalem’s needy elderly a sense of purpose, self-worth and connection to mainstream society through creative work opportunities, essential support services and a warm community environment. Our team members enjoyed giving out donuts to the participants and lighting the menorah with them.
  • For the eighth day of Chanukah, we donated to Meir Panim, an Israeli organization that feeds the hungry, supports teens at risk and uplifts Holocaust survivors. Some of our team members had the opportunity to volunteer in the Meir Panim soup kitchen in Jerusalem and hand out donuts during the lunch shift.

Recent events

On November 23-24, DLA Piper co-sponsored the Homegrown Technologies for the New Middle East: UAE-Israel Tech Exchange Conference in partnership with Axis Dubai. Over the course of the two-day conference, a delegation of selected Israeli startups in the agtech/foodtech, small cities/mobility and impact/ESG sectors pitched, networked and engaged with UAE-based investors, corporations and business partners. Leo Batalov (Partner, Global Co-Head of Emerging Growth and Venture Capital, DLA Piper) welcomed participants and served as moderator of a smart cities/mobility panel discussion.

It was our great pleasure to host our international trade and national security colleagues Nicholas Klein and Nathaniel Bolin, partners in DLA Piper’s Washington, DC office, in Israel.

  • On November 29, we hosted an intimate dinner with team members and several key clients at private chef Nir Zook’s home in Old Jaffa, where Chef Nir put a Middle Eastern twist on a traditional Thanksgiving dinner. Nick and Nate discussed pressing issues related to the Committee on Foreign Investment in the United States (CFIUS) and increased enforcement by the US, as well as how Israeli companies doing business in the US may be affected.
  • On November 30, we co-hosted a Sanctions and Export Controls: Implications for Israeli Companies seminar with Israeli law firm Gornitzky & Co (GNY). The evening included networking opportunities and a panel discussion with Nick, Nate and Assaf Harel (Partner, GNY), who provided insights into recent developments in sanctions/export controls and how these issues are affecting many Israeli companies. They also spoke about how the US, EU and UK have imposed severe and escalating sanctions/export control restrictions on Russia, Belarus and, to some extent, China.
  • On December 8, DLA Piper, in collaboration with GNY and The Israeli Institute of Commercial Arbitration, held an international arbitration conference in Dubai, in the presence of senior jurists from both countries. The seminar focused on the evolving relationship between Israel and the UAE, including a discussion on the framework of the Abraham Accords and its impact on trade, investment and the wider dispute resolution landscape. At the conference, Judge Shamlan Al Sawalehi noted that the first Israeli case has already reached the courts of the DIFC, a free-trade zone within Dubai that has an independent court system, among other things, to attract foreign investment to the UAE.
  • On December 14, we enjoyed the fourth installment of our exclusive Regional Private Chef Dinner Series, where we ate a delicious Greek-inspired Chanukah-themed dinner created by the talented Chef Zissie. In the spirit of Chanukah, we also incorporated a giving element to the evening and packaged holiday gifts for the children of Save a Child's Heart (SACH). SACH's Director of Resource Development, Ido Gutin, also briefly presented on the tremendous impact of the organization – on sick children, their families and communities back home in Africa.

Coming soon

We are thrilled to be planning several in-person events for the coming months. Stay tuned for updates on the following:

  • Global M&A: February 2023
  • International Women’s Day: March 2023
  • Digital Transformation and ESG: Q1 2023
  • Global Life Sciences: Q2 2023
  • Israel Real Estate Summit: Q2 2023
  • Second Annual DLA Piper Charity Basketball Tournament: Q3 2023

Recent press