The Government of Serbia has adopted the proposed Act on the Management of Enterprises Owned by the Republic of Serbia, which foresees the transformation of public enterprises into joint-stock or limited liability companies. Twenty-three public enterprises are thus set to change their legal form. A complete automated English translation of the Draft Act is available here. In this transition, the equity capital of a public enterprise will be converted into shares or stakes, depending on the legal form. The change maintains the public enterprise’s legal subjectivity and business identity without liquidation or interruption of legal continuity, retaining its identity in […]
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In this second installment of our series focusing on the risks posed by artificial intelligence (AI) and the legislative initiatives in the US to address them, we will be examining the proposed AI Bill of Rights. The transformative impact of AI on our world is evident, from self-driving cars to facial recognition software. As AI technology gains potency, we must consider its potential implications for human rights. In response, the White House Office of Science and Technology Policy (OSTP) has released a Blueprint for an AI Bill of Rights (The Blueprint). The Blueprint outlines five essential principles for the creation […]
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I. Strengths of the GDPR The General Data Protection Regulation (“GDPR”), implemented in 2018, has played a vital role in safeguarding personal data in the era of information and communications technologies (“ICT”). As AI technologies continue to advance rapidly, questions arise regarding the effectiveness and adaptability of GDPR in addressing the evolving challenges of data protection. This article examines whether GDPR is ready for retirement or if it requires updates to address AI-related data protection concerns effectively. Namely, Artificial Intelligence (AI) is defined as a methodology used in machine learning to determine which one of several used models has the […]
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The Serbian government announced that it is looking for a strategic partner to develop a minimum of five self-balancing solar power plants with a total installed capacity of 1,000 MWac (or 1,200 MWdc) and a battery storage system with a minimum total installed capacity of 200 MW and the ability to accumulate at least 400 MWh of electric energy. The full text of the Decision of the Government of the Republic of Serbia in English is available here. The strategic partner will design, develop, build, and maintain the project before transferring ownership to the public power utility company (EPS) on […]
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In a landmark gathering at the White House, some of the most influential CEOs and leaders in artificial intelligence (AI) convened for a crucial discussion on responsible innovation and mitigating AI risks. The meeting, organized to foster collaboration and cooperation between the government and the private sector, brought together renowned figures from technology giants and AI-focused companies. In the series of articles we present to you, we will deal with the US legislative initiatives behind the above meeting, which concern various risks of using AI. Block Nuclear Launch by Autonomous AI Act In recent years, the rapid development of AI […]
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Last week, Branko Gabrić, our counsel, had the honor of being invited to speak at the South-East European Data Protection Congress in Belgrade. The congress was held to establish a forum for data protection professionals to facilitate the exchange of ideas, opinions, updates, experiences, and the application of best practices, ultimately boosting the data protection scene in the region. Branko participated in the central panel on the first day of the conference, which focused on “Transparency – Can Organizations Ever be Too Transparent?”. Alongside him were Boško Vojkić, Director of Data Protection at Ergomed PLC; Stevan Stanojević, founder of PrivacyOneStop; […]
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On Wednesday, our Senior Associate and a key member of our Banking & Finance team, Miloš Petaković, was invited to deliver a guest lecture on consumer protection for consumer loans in Serbia at the Faculty of Law of the European University in Rome. The class was held for the students of European Banking Law, led by Prof. Attilio Cristiano Vaccaro Belluscio. Miloš began the lecture by providing an overview of the history and general principles governing the banking system in Serbia and its position in the European context. He highlighted the regulatory and institutional landscapes that govern the banking sector […]
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The landscape of business registration in Serbia is changing, catalyzed by the advent of digital technologies. As of May 17, 2023, Serbia is set to embrace a comprehensive digital transformation by mandating all business entity registrations to be conducted exclusively via the Business Registers Agency’s (APR) eRegistration application. This move will render paper-based applications obsolete, bringing greater efficiency and practicality to the business registration process. This transition applies across the board to all legal entities in Serbia, including Limited Liability Companies (DOO), General Partnerships (OD), Limited Partnerships (KD), and Joint-Stock Companies (AD). This change not only streamlines administrative procedures but […]
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As part of the ongoing collaboration between the Biosense Institute and Gecić Law, as a mentor, our Senior Associate Nemanja Sladaković led two workshops within the 10th Module of the Biosense Accelerator, the cutting-edge immersive program for the region’s early-stage and growth-stage AgTech startups. The in-depth workshop titled “Legal ABCs for Startups” aimed to educate participants on corporate law basics crucial for startups to know before incorporation and in the early stage of development. The workshop covered various legal branches such as contracts, employment law, ESG, intellectual property protection, and dispute resolution. The interactive and engaging session allowed participants to […]
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With technological advancements changing both how antitrust laws are enforced and how undertakings violate competition laws, the fourth industrial revolution and the rapid growth of AI continue to affect this area of law, as many others. It is impossible to ignore the potential for AI to conquer markets and its ability to spot and fix basic market balance violations. Despite the benefits of technology for customers, it also threatens their interests by distorting market dynamics and impacting competition. Threat Using AI presents a potential risk as it allows for price collusion through price monitoring and algorithmic matching software. While […]
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