Inventory meaning

How to use this Checklist This Checklist offers a structured approach to embedding AI governance within a professional services business. Robust AI oversight calls for a highly tailored method, aligned to the specific enterprise; it will vary by business type, risk tolerance, available resource, and the maturity of current governance arrangements. Nonetheless, this Checklist signposts the core considerations to support firms in adopting AI responsibly while safeguarding client trust, meeting regulatory obligations, and maintaining professional standards. Further reading Practice Note: Artificial intelligence and machine learning—an introduction to the technology Practice Note: The AI project lifecycle—a quick guide Precedent: Policy—use of generative artificial intelligence Practice Note: Negotiation guide—AI contracts Practice Note: Artificial intelligence—UK regulation and the National AI Strategy AI governance checklist—professional services Stage of implementation Key takeaways/further reading Define the scope: clearly set out what ‘AI’ covers for your governance framework (for example)...

UK Competition Appeal Tribunal delivers uncommon ruling on the application of competition law to online sales constraints (Up & Running v Deckers) Re: Up & Running (UK) Ltd v Deckers UK Ltd [2024] CAT 61 What was the background? The defendant, Deckers, distributes running footwear, including models sold under the HOKA label. The claimant, Up & Running, had long retailed HOKA shoes, with supply coming from Deckers. Though Up & Running chiefly sold HOKA products via a chain of physical shops and stores, it also offered them on its site, upandrunning.co.uk. When the Covid-19 pandemic struck in 2020, Up & Running was left holding significant unsold inventory that it could not move through its bricks and mortar retail outlets. While it needed to discount this stock to clear it, it was reluctant to do so on its primary website, upandrunning.co.uk, as it considered that would make it harder to sustain premium pricing for products and lines where there was no excess stock and—using Up & Running’s own...

Mergers Getty Images/Shutterstock meets the test for reference to phase 2 The CMA has issued its decision that the proposed acquisition of Shutterstock, Inc. (Shutterstock) by Getty Images Holdings, Inc. (Getty Images) meets the threshold for a phase 2 reference. Getty Images and Shutterstock both provide digital content, including photographs, illustrations, video and music. The companies operate platforms through which content is licensed to customers. Their content can be broadly divided into: editorial material, covering pictures and video of newsworthy events, people and landmarks; and stock (or creative) content, held in inventory and licensed for use across a wide range of industries...

Ryanair chief Michael O’Leary has welcomed yesterday’s framework struck with Booking to retail its flights, calling it a win for consumers and for the Irish budget airline. The carrier’s insistence on blocking some online travel agents from reselling its tickets has sparked competition complaints from rivals and a competition investigation in Italy. Speaking at a press conference in Brussels today, O’Leary said that all major European OTAs, apart from eDreams in Spain, have now agreed deals with Ryanair that provide direct access to the airline’s inventory. In exchange, they place reservations straight through Ryanair, guarantee customers Ryanair fares, and customers are no longer overcharged. The upside for Ryanair, he noted, is receiving each customer’s own credit card details and email address, allowing the airline to communicate with the customer directly rather than via fictitious emails or fake card details. Ryanair has criticised online intermediaries for adding extra fees for...

Understanding the IP portfolio Effective stewardship of an IP portfolio is vital to protect and enhance the worth of a business’s intangible assets. A well-structured portfolio enables right holders to pinpoint and safeguard core assets, advance commercial aims, and limit legal and financial risk. This Practice Note offers practical guidance for UK right holders and their advisers on running an IP portfolio efficiently. It spans legal compliance (keeping rights valid, current and accurately recorded) and strategic management (aligning IP protection with business goals). What is an IP portfolio? An IP portfolio is the collective set of registered and unregistered IP rights an organisation owns, holds under licence or otherwise controls. It functions as both a legal architecture and a commercial asset base that can generate income, attract investment and deliver competitive advantage. Portfolio management involves systematically recording, protecting, monitoring and exploiting these rights to ensure they continue to create strategic value. Types of rights commonly included Patents: inventions, processes, chemical compositions. Protection method:...

Background and key developments Regulation (EC) No 1272/2008, known as the EU Classification, Labelling and Packaging (CLP) Regulation, gives effect to the United Nations’ Globally Harmonised System for classifying and labelling chemicals (UN GHS) within the EU. Its principal purposes are to: determine which characteristics of substances and mixtures warrant a hazardous classification, and ensure this identification is communicated appropriately to customers The EU CLP Regulation has applied since 20 January 2009 (with staged transition periods up to 2015) and is directly applicable to suppliers that manufacture, import, use or distribute chemical substances and mixtures. This Practice Note addresses the packaging requirements under the EU CLP Regulation. For details on other elements of the EU CLP framework, see Practice Notes: EU classification, labelling and packaging of substances and mixtures (CLP): Regulation (EC) 1272/2008—snapshot EU CLP—chemicals classification EU CLP—chemicals labelling EU CLP—notifications to the classifications and labelling inventory EU Chemicals Strategy for Sustainability reforms...

FORTHCOMING CHANGE : On 30 January 2024, the Trusts and Succession (Scotland) Act 2024 obtained Royal Assent, representing the first review of Scottish trusts law in more than a century since the principal Trusts (Scotland) Act 1921 was enacted. The trusts provisions will require secondary legislation from Scottish Ministers before they commence, whereas the succession provisions took effect on 30 April 2024. Key changes intended to modernise the law are outlined in News Analysis: Trusts and Succession (Scotland) Bill passed. Practice Notes addressing Scottish trusts and succession will be updated as required to reflect this new legislation. This Practice Note explains the procedure for obtaining confirmation in Scotland for testate estates, in scenarios both where no inheritance tax (IHT) is payable and where IHT is due. For guidance on confirmation in intestate estates, see Practice Note: Application for confirmation in Scotland—intestate cases. What is confirmation? ‘Confirmation’ is a document issued by a Sheriff Court that confirms the appointment of executors, whether the appointment was made...

A: General information Register last updated: [ Insert date ] Updated by: [ Insert name ] Entry 1 Software: [ Office 365 ] Provider: [ Microsoft ] Version: [ insert ] Purpose: [ Word processing ], [ Email application ], [ Calendars ], [ Presentations ] Access: [ None. Available to all users ] Notes: [ Annual subscription model ] Entry 2 Software: [ insert ] Provider: [ insert ] Version: [ insert ] Purpose: [ Client relationship management (CRM) ] Access: [ Restricted to partners and senior associates ] Notes: [ A process ensures entries are reviewed on an annual basis ]...

Precedent Please click to view Precedent. The register is created in Microsoft Excel and is not downloadable into Microsoft Word directly. It is intended primarily for in-house lawyers working in commercial organisations. It helps you ensure all contractual documents are systematically and accurately recorded. Documentation may include, for example, agreements, deeds, leases, confidentiality agreements, NDAs...

This Agreement is entered into on [ date ] Parties [ insert name of supplier ] [ of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] ( the Supplier ); [ insert name of customer ] [ of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] ( the Customer ) (each of the Supplier and the Customer is a party, and together they are the parties) Background The Supplier is engaged in providing warehousing and transport services. The Customer is engaged in [ insert description ]. The parties have agreed that the Supplier will provide warehousing and transport services to the Customer on the terms contained in this Agreement...