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Sheppard Mullin's The Legit Ledger

Sheppard Mullin's The Legit Ledger

Written by: Sheppard Mullin
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 The Legit Ledger is a podcast providing insights and practical tips on blockchain-related legal issues. Join Sheppard Mullin's Blockchain Team and their guests as they discuss legal issues resulting from blockchain technologies and business models and practical solutions for keeping their use legit, including NFTs, DAO's and generative AI.© 2025 Politics & Government
Episodes
  • Plunging Into the Future: What Companies Need to Know as They Embrace AI

    Plunging Into the Future: What Companies Need to Know as They Embrace AI
    Sep 5 2023
    In this episode of the Legit Ledger, Jim Gatto, a partner in Sheppard Mullin's Washington D.C. office and co-chair of its AI team, joins host Sarah Ben-Moussa to discuss what companies should know as they embrace generative AI, including key legal issues, the European Union's Artificial Intelligence Act, and unique due diligence concerns when acquiring or investing in companies that develop or use generative AI. What We Discussed in This Episode: What is generative AI, and why has it become so newsworthy? What are the key legal issues raised by AI? Who is liable if the output produced by generative AI infringes? Can you provide a broad overview of the European Union's Artificial Intelligence Act? How does the EU compare to the current landscape in the U.S.? Is it legal for companies to use your output to train their own AI models? What unique issues should be considered when conducting diligence for acquisitions or investments in companies using or developing generative AI? What are some of the most important things companies should do to minimize the risk when using AI? About James G. Gatto James G. Gatto is a partner in the Intellectual Property Practice Group in Sheppard Mullin's Washington, D.C. office, where he also serves as Co-Leader of the firm's Artificial Intelligence Team and Leader of the Open Source Team. Jim's practice focuses on AI, blockchain, interactive entertainment and open source. He provides strategic advice on all aspects of intellectual property strategy and enforcement, technology transactions, licenses and tech-related regulatory issues, especially ones driven by new business models and/or disruptive technologies. Jim has over 20 years of experience advising clients on AI issues and is an adjunct professor who teaches a course on Artificial Intelligence Legal Issues. He is considered a thought leader on legal issues associated with emerging technologies and business models, most recently blockchain, AI, open source and interactive entertainment. About Sarah F. Ben-Moussa Sarah F. Ben-Moussa is an associate in the Corporate Practice Group in Sheppard Mullin's New York office, where her practice focuses on domestic and cross-border mergers and acquisitions, financings and corporate governance matters. As a member of the firm's French Desk, she has advised companies and private equity funds in both the United States and Europe on mergers, acquisitions, joint ventures, financings, complex commercial agreements, and general corporate matters. As a member of Sheppard Mullin's Energy, Infrastructure and Project Finance team, Sarah also represents renewable energy companies, borrowers, financial sponsors, portfolio companies, commercial banks and other financial institutions in a variety of financing transactions. Her practice focuses on a variety of transactions in the energy sphere, representing renewable energy companies in project-level debt and equity financings of wind and solar facilities. Before joining Sheppard Mullin, Sarah spent a year and a half studying and working in France, focusing on corporate transactions and commercial contracts in Europe and internationally. Sarah is also committed to pro bono work, focusing on cases involving children seeking asylum or other immigration-related relief. Contact Information: James G. Gatto Sarah F. Ben-Moussa Additional Resources: Copyright Office Artificial Intelligence Initiative and Resource Guide | Law of The Ledger Training AI Models - Just Because It's Your Data Doesn't Mean You Can Use It | Law of The Ledger Solving Open Source Problems with AI Code Generators – Legal Issues and Solutions | Law of The Ledger Congress Proposes National Commission to Create AI Guardrails | Law of The Ledger Sheppard Mullin Launches Artificial Intelligence Industry Team | Sheppard Mullin Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week. If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show.
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    34 mins
  • Ripple v. Terraform, CFTC v. SEC – Where Next?

    Ripple v. Terraform, CFTC v. SEC – Where Next?
    Aug 17 2023
    In this episode of the Legit Ledger, Matthew Lisle of Wedbush Securities joins Sheppard Mullin partner Bill Kane and associate William Sierra-Pambley to discuss recent developments impacting the digital asset marketplace, including the Ripple and Terraform opinions from the Southern District of New York. What We Discussed in This Episode: There remains a lack of judicial consensus in applying the 1946 United States Supreme Court case, SEC v. W.J. Howey, where the Court delineated a three pronged test for determining what constitutes a security subject to SEC oversight. 77 years later the courts remain in disagreement on how to apply the Howey test as illustrated in recent US District Court decisions Ripple and Terraform. Cryptocurrency industry leaders want clear and comprehensive digital asset industry regulation to promote market transparency and investor confidence. Mr. Lisle provides his views on why the Commodity Futures Trading Commission ("CFTC") should be the chief digital asset regulator and how it would benefit the market. Mr. Lisle discusses a path forward for the digital asset industry facing continued regulatory uncertainty. Self-regulation and legislative collaboration are discussed along with constructive solutions the Global Digital Asset & Cryptocurrency Association has proposed. About Matthew Lisle Matt Lisle serves as Chief Compliance Office (CCO) for the Futures Division of Wedbush Securities, one of the nation's leading diversified independent financial services providers. A licensed attorney for over three decades, he has focused on legal and regulatory compliance in the futures industry for 25 years. Matt served as General Counsel for Drawbridge Lending, which Galaxy Digital acquired in 2020. At Galaxy, he served as CCO of the commodity pool and trading advisory business. Matt also co-founded and is Chairman of the Global Digital Asset & Cryptocurrency Association. About Bill Kane Bill Kane is a partner in the Business Trial Practice Group in Sheppard Mullin's Chicago office, where his national litigation practice includes complex commercial litigation and advice across industry sectors in corporate governance, director and officer issues, shareholder rights, media/entertainment, and regulatory issues. Bill represents clients before trial and appellate courts, administrative agencies, as well as private mediations and arbitrations. His government controversy practice includes representing clients in response to state and federal regulatory enforcement actions, including parallel proceedings, Presence Exams, and market issues related to 7 U.S.C. § 9 of the Commodity Exchange Act, including its application in the Fin-Tech industry. He further conducts internal investigations for company board of directors and executive management in response to threatened and pending claims. About William Sierra-Pambley William Sierra-Pambley is an associate in the Finance and Bankruptcy Practice Group and a member of the firm's Alternative Finance team and Blockchain & Fintech team. William represents corporate borrowers, financial sponsors, portfolio companies, commercial banks and other financial institutions in a variety of domestic and cross-border financing transactions. Some of the areas in which William has experience are senior secured and second-lien credit facilities in connection with broadly syndicated transactions, leveraged buyouts and add-on acquisitions. William also specializes in tribal-related financing projects. Contact Information Matt Lisle Bill Kane William Sierra-Pambley Resources Global Digital Assets & Cryptocurrency Association Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week. If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show. This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
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    30 mins
  • Copyright Issues with Generative AI with Jim Gatto and Yasamin Parsafar

    Copyright Issues with Generative AI with Jim Gatto and Yasamin Parsafar
    Apr 5 2023

    In this episode of the Legit Ledger, Sheppard Mullin attorneys Jim Gatto and Yasamin Parsafar explore copyright in the context of AI-generated works, including the recent registration guidance issued by the U.S. Copyright Office and the infringement issues that may arise with respect to training an AI model.

    What We Discussed in This Episode:

    • What two works did the Copyright Office specifically address in its recent guidance on the registration of AI-generated works?

    • What were some issues the Copyright Office sought to clarify by issuing the guidance?

    • What instructions did the Copyright Office provide for submitting works that include AI-generated material?

    • What copyright infringement issues arise with respect to training an AI model?

    • What are the potential consequences of infringement?



    About Jim Gatto

    Jim Gatto is a partner with the Intellectual Property Practice Group in Sheppard Mullin's Washington, D.C. office, where he co-leads the Blockchain & Fintech Team. His practice focuses on blockchain, interactive entertainment, digital art, AI and online gambling. He advises clients on IP strategies, development and publishing agreements, licensing and technology transaction agreements, and tech regulatory issues. Jim has been involved with blockchain since 2012 and has been recognized as a thought leader by leading organizations, including Best Lawyers in America 2021-2022; Cryptocurrency, Blockchain and Fintech Trailblazer, The National Law Journal, 2018; and Thought Leader on Blockchain & Cryptocurrencies, National Law Review, 2018.

    About Yasamin Parsafar

    Yasamin Parsafar is a partner with the Intellectual Property Practice Group in Sheppard Mullin's San Francisco office, where she serves as co-leader of the firm's Blockchain & Fintech team. Her practice focuses on protecting her clients' intellectual property rights through counseling, prosecution, enforcement and litigation. Yasamin leverages her litigation experience to strengthen and protect her clients' intellectual property, manage risks and position businesses to succeed in the event of a dispute. She frequently advises and protects brands venturing into web3 on various issues related to non-fungible tokens, metaverses, games, online marketplaces and other platforms.

    Contact Information:

    Jim Gatto

    Yasamin Parsafar



    Resources:

    Copyright Office Guidance on AI

    Copyright Office Artificial Intelligence Initiative and Resource Guide

    Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week.

    If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show.

    This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
    Show More Show Less
    26 mins
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