Wai Choy has deep expertise in technology, media, outsourcing and intellectual property-related transactions and counseling and is a partner in Proskauer’s Technology, Media & Telecommunications Group, Blockchain Group, Life Sciences Group and Privacy & Cybersecurity Group. He is recognized as a trusted advisor to clients at various stages in their development and across industries, including technology, entertainment, media, asset management, financial services, e-commerce, life sciences, sports, healthcare and advertising.
Wai serves as Co-Editor of Proskauer’s Blockchain and the Law blog and counsels business and legal teams on blockchain and distributed ledger technology development, structuring and implementation, cryptocurrencies, non-fungible tokens (NFTs), fan tokens and other digital assets, and associated legal issues.
In the context of private equity, mergers, acquisitions and financings, Wai:
- Advises clients on technology, intellectual property, privacy and data security matters;
- Leads teams in conducting legal due diligence and provides industry-specific market insights;
- Drafts and negotiates key transaction documents, such as purchase, merger, transition services and intellectual property license agreements; and
- Represents acquired portfolio companies in their business operations, including key commercial transactions and strategic agreements.
Wai helps companies navigate legal and business matters in their day-to-day business operations and leads the structuring, drafting and negotiation of a wide range of contracts, such as:
- Service agreements for a variety of services, including outsourcing, software as a service (SaaS) and other hosted services, data analytics, digital marketing, software and website development, systems integration, technology implementation and payment processing;
- Collaboration agreements between strategic partners for the development, manufacturing and commercialization of new technology, products and services;
- Software license agreements and other complex intellectual property license and assignment agreements;
- Revenue sharing, joint venture, reseller, supply, equipment purchasing, manufacturing and other types of general commercial agreements;
- Content production, license and distribution agreements covering various business models and distribution methods;
- In the biotech, pharma and medical device arena, agreements covering research and development collaborations, intellectual property licenses, manufacturing, supply and distribution services, sponsored research, grants, revenue sharing and other strategic partnerships among commercial entities, academic institutions and/or charitable organizations;
- Terms of use, privacy policies and end user license agreements for websites, mobile apps and other software; and
- Advertising-related agreements spanning digital, radio and billboard media, including programmatic advertising platform agreements, lead generation service agreements, advertising reseller and affiliate agreements, insertion orders and advertising terms and conditions.
Wai also counsels clients and provides strategic advice regarding:
- Intellectual property, confidentiality, privacy, cybersecurity, right of publicity and defamation laws and issues;
- Use of open source code under various permissive and copyleft licensing schemes, including structuring combinations of open source code with proprietary code; and
- Internet, digital marketing and media-applicable U.S. laws.
Wai has been a guest lecturer on blockchain technology at Fordham University School of Law and is a frequent speaker on technology and media issues. Prior to joining Proskauer, Wai worked in the Business & Legal Affairs departments of Marvel Studios in Los Angeles and Marvel Entertainment in New York. At the University of Pennsylvania Law School, Wai served as Senior Editor of the University of Pennsylvania Law Review and was a Levy Scholar.
Education
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The Wharton School of the University of Pennsylvania, Certificate in Business and Public Policy
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University of Pennsylvania Law School, J.D.
Senior Editor, University of Pennsylvania Law Review, 2010-2012
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New York University, Tisch School of the Arts, B.F.A.
Admissions & Qualifications
- New York
Awards & Recognition
The Legal 500 United States: Media, Technology and Telecoms: Technology: Outsourcing 2020-2021
The Legal 500 United States: Media, Technology and Telecoms: Technology: Technology Transactions 2020-2021
The Legal 500 United States: Media, Technology and Telecoms: Telecoms and Broadcast: Transactional 2020
Blockchain and the Law Blog
Read the latest news and developments affecting blockchain and digital currencies
Edited by Jeffrey D. Neuburger and Wai Choy