Practical Law The Journal is the award-winning magazine companion to Practical Law, covering a wide range of transactional, regulatory, and litigation topics. It publishes monthly in a digital-only format hosted on Legal Current reached out to the Practical Law The Journal team to discuss what readers can look forward to in the December issue.

What emerging issues and developments can readers learn about in the new issue?

Our feature article this month delves into the metaverse. Over the last few years, companies have poured significant capital into the metaverse, often on expectations of outsized future returns. Innovation involves risk, however, and it is inevitable that some of the players that are building and operating in the metaverse will face challenges that force them into restructuring or bankruptcy. Kizzy Jarashow and James Lathrop of Goodwin Procter explain the key considerations regarding ownership of metaverse assets, including content, cryptocurrency, and non-fungible tokens (NFTs), which will likely be a central issue in disputes over what constitutes property of the estate in a bankruptcy proceeding.

The December issue also explores the use of blockchain and smart contracts in the supply chain context. Blockchain has become increasingly important in the administration of systems that move goods around the world because it provides a secure way to verify transactions involving multiple parties that typically do not know or have reason to trust each other. Jeffrey Neuburger, Wai Choy, and Jonathan Mollod of Proskauer discuss the benefits, risks, and fundamental legal issues that supply chain participants should consider before implementing a blockchain system.

What other legal topics are explored in this issue?

This issue highlights several year-end action items that should be on counsel’s radar, including new compliance requirements under the Corporate Transparency Act’s beneficial ownership information reporting rule (BOI Rule), which becomes effective on Jan. 1, 2024. Daniel Stipano of Davis Polk explains the BOI Rule’s reporting obligations and exemption eligibility, as well as how it may impact loan transactions.

Additionally, as employers prepare for the new year, they should ensure their employee policies and handbooks are updated and legally compliant, especially given new state and local law developments. Inayat Ali Hemani of Practical Law provides best practices for creating, distributing, and maintaining an employee handbook, including compliance with the National Labor Relations Act (NLRA).

Employers should also annually review their executive and director compensation programs. Our Practical Law Employee Benefits & Executive Compensation team outlines actions that employers should take before the end of the 2023 calendar year to ensure their plans reflect best practices and comply with applicable legal requirements, including tax rules such as Section 409A.

The Journal also profiles leaders across the legal industry. Whom did you interview this month?

Among others, we sat down with Chief Judge Shelly Deckert Dick, the first female judge to serve in the Middle District of Louisiana. She offers practical trial advice to litigators and emphasizes the importance of mindfulness in career development.

How can readers access The Journal?

Readers can enjoy free access to The Journal on To view the content, they simply sign in to their Reuters account or, if they don’t have an account, they can register here. To be notified when new monthly issues of The Journal are published and get highlights delivered straight to their inbox, readers can also opt into our newsletter here.


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