Cape Town property pulls foreigners

first_img12 June 2013Foreign buying activity in Cape Town’s most sought-after suburbs has picked up markedly since the start of the year, predominantly on the back of the weak rand, according to property agency Seeff.Since January, about 75 properties to the value of almost R566-million have been snapped up by foreign buyers, the equivalent of more than 80 percent of the 89 units to the value of around R570-million that sold during the whole of 2012, Seeff’s managing director for the areas, Ian Slot, said this seek.This includes nine sales above the R20-million mark – four of which were bought by African buyers. The shift in activity to African buyers and emerging Eastern markets such as China and India is also becoming more prevalent, Slot said.African buyer activity has already more than doubled, with 12 property sales to the value of just over R142-million compared to about six property sales for the whole of 2012.Nigerian buyers top the list, with four properties that includes an apartment at Cape Town’s V&A Waterfront for R25-million and a luxury home in Bantry Bay for R30-million.  An Angolan buyer also paid R30-million for a home in Camps Bay.Buyer activity from the emerging Eastern markets such as China and India has also more than doubled for this year so far, said Slot. A total of 10 properties to the value of just over R61-million have sold to Eastern buyers compared to only four sales during 2012.Chinese buyers top the list, with six property sales compared to only two during the whole of last year, he added. Five of these sales were below the R5-million price band, while the sale of a Camps Bay mansion topped this at a selling price of R7.296-million. Two Middle Eastern buyers also invested in Camps Bay holiday homes, including a modern villa sold for R9.75-million.European buyers account for 28 property sales to the value of just under R155-million; about 40 percent of all buying activity.About 18 properties to the value of R63-million were sold to British buyers.Buying activity from the USA remains low at only three property sales compared to two sales during 2012.The majority of sales, 52 properties (69 percent) worth more than R470-million, took place in the suburbs of the Atlantic Seaboard. This includes 11 sales to African buyers.The highest activity was in Camps Bay with 16 sales, followed by Sea Point with 11 sales. Sales in Cape Town’s central business district and City Bowl suburbs account for 23 units (31 percent), mostly to British and European buyers, Slot added.While foreign buying activity had improved over the last few months, Slot said that overall volumes were still down since 2009, when 435 properties with a combined value of over R1.5-billion sold to foreign buyers.This positive foreign buyer sentiment in the lead-up to the 2010 Fifa World Cup had since been stifled by the continued uncertainty in the UK and European economies. The upside of this was that many UK and European buyers had looked to shift their funds into South African property, and the weak rand had served as a significant incentive. This made property here even more attractive as a safe haven, he added.While foreign buyer activity for this year accounted for about 13 percent of the total sales volumes (81 out of a total of 608 units sold), Slot said that this percentage was always moderated by sales of foreign owned properties. For the 2012 year, for example, about 89 out of the total of 1193 properties sold were to foreign buyers, representing eight percent of all unit sales on the Atlantic Seaboard and in the City Bowl. In contrast, 117 foreign-owned properties were sold during the same year.Sapalast_img read more

Google Acquires Teracent: Wants to Offer Smarter Display Ads

first_imgfrederic lardinois A Web Developer’s New Best Friend is the AI Wai… Top Reasons to Go With Managed WordPress Hosting Related Posts 8 Best WordPress Hosting Solutions on the Market Tags:#news#NYT#web Why Tech Companies Need Simpler Terms of Servic… According to Google, Teracent’s offerings will help the company to improve display advertising on the Web. Since acquiring DoubleClick in 2007, Google has released a number of new features to improve its display ads. Earlier this month, Google also acquired mobile advertising company AdMob. Neither Google nor Teracent released any information about the financial details of the transaction, which is “subject to various closing conditions.”Teracent’s most well-known competitor is probably Dapper, which also offers dynamic display ads based on factors like a company’s inventory or a user’s location.While Google was on a buying spree in 2007, when the company acquired 16 companies, it only bought 2 companies in 2008. So far, Google has acquired 5 companies and products in 2009: reCaptcha, On2, Gizmo5, AdMob and Teracent. Google just announced that it has acquired Teracent, a display ad company that specializes in creating customized display ads in real-time based on machine-learning algorithms. While regular display ads always look the same for every user, Teracent’s ads are automatically created from multiple creative elements and can change according to factors like geographic location and language, as well as the content of the website, time of day, and the past performance of different ads. As Andy Beal describes it, this is basically “multi-variate testing for your banner ads.”Teracent also offers solutions for optimized video and mobile display ads. Interestingly, Teracent is currently working with Yahoo to offer its Mobile SmartAds on Yahoo’s mobile properties. It will be interesting to see if Google will continue this partnership.last_img read more

Coming to Terms – Why Terms of Use are Critical for Your Company

first_imgRelated Posts Tags:#click through agreement#EULA#How To#license#terms of service#terms of use#web Feras Mousilli is a founding partner of Lloyd & Mousilli (www.lloydmousilli.com) and advises clients on technology law issues. He specializes in counseling start-ups through Fortune 100 companies on intellectual property. He served as Senior Corporate Counsel for Apple & Dell and as a patent attorney with the DLA Piper law firm.Mr. Mousilli acted as President Elect for the Association of Corporate Counsel in Austin and a Guest Lecturer at the University of Texas and UC Berkeley Schools of Law. He is the proud recipient of the Covington Pro Bono Award and was selected as a Texas Rising Star in Super Lawyers by Texas Monthly.Feras holds bachelor degrees in Biomedical Engineering & Computer Science, and a Masters in Computer Science Engineering from Johns Hopkins University. He earned his Juris Doctor from the University of Texas School of Law. How Data Analytics Can Save Lives Follow the Puck What it Takes to Build a Highly Secure FinTech … Feras MousilliTechnology Lawyer AI: How it’s Impacting Surveillance Data Storage Every time you’ve installed a piece of commercial software, you’ve invariably been presented with what must have appeared to be legal gibberish- a seeming difficult to read, needlessly long, solid block of text that was almost impossible to understand. Most people never bother to read the information presented- quickly scrolling to the bottom of the page, checking a box, clicking on “I Agree” or doing whatever it takes to get past this legal hurdle to access the software.Despite the relative ease with which these legal terms are bypassed, or the wide range of names they are called (e.g., Terms of Use, Terms and Conditions, T&Cs, Terms of Service, End User License Agreement, EULA, etc.) these terms contain critical contractual language limiting your rights as a user of the software or service and granting rights to the use of your information and data to the software publisher, among a host of other conditions and limitations.Terms of Use are your Playground Rules, placing users on notice upon entering your playground.While this may seem like a nefarious or underhanded practice to take advantage of unwitting users, it is actually business critical for the software publisher to be able to prevent abuse of the software or service by malicious users, hackers, or even competitors. These terms also limit the liability for the business for claims that may be filed by the user of the software in ways that the business could never have anticipated.Just as every business has different requirements that vary by size, industry, and region, software terms are not one size fits all, and should be customized to meet the specific service offering, secure the rights required, and mitigate the associated risks unique to the business model.In this article, we will examine the various types of terms that should be included in a business’ terms of use to help setup the conversation you should have with your lawyer.Playground RulesAs the business providing the software or services being offered, you are setting the “Playground Rules.” Your Terms of Use are your Playground Rules, placing users on notice upon entering your playgroundWithin the Terms of Use, you can spell out exactly what activities are prohibited on your website or platform. You can create a laundry list of prohibited practices, anything from use of profanity, multiple accounts, harassment of other users, etc. There are way too many terms that could be potentially included here to be discussed in detail, but it is sufficient to know that a social media platform would have very different terms from a personal finance management application.At a minimum, it should allow your business to stop abusive users, terminate access or accounts at your sole discretion, and enforce restrictions and guidelines that you spell out in the Terms of Use. Users must follow your terms to access, use, and interact with your software or service.Limiting Your ExposureNo matter how long you’ve been in business, users invariably find a way of surprising you with a confounding use of your software that you may never have anticipated. It’s baffling how these corner use cases often become the most litigious in their demands or claims when your software fails to continue meeting their needs.A potential scenario follows. Your small business lead platform quietly becomes the default CRM for a statewide real estate agency that can no longer access closing contracts when your servers are offline for unscheduled maintenance. All of their real estate closings have to be rescheduled, loan rates are no longer valid, and the buyers are looking for blood.While this may seem unreasonable in reliance, your terms of use can also limit the liability for your business for claims that may be filed by the user of the software in ways that the business could never have anticipated. A limitation of liability clause can easily set the maximum exposure for your business to the license fees paid by the user.Your State, Your LawsWhile electronic distribution over the internet or app stores lets you distribute your software offering far and wide, the last thing that you want for your business is to be dragged into court in some unfamiliar jurisdiction, with unanticipated state or country laws you are now subject to.  You may strategically use your Terms of Use to contractually set out venue requirement in your home state and country and designate the governing law to be used in the event of a legal issue arising.It may also be preferable for your business to require arbitration proceedings for any legal issue that arises with your users, rather than allow for litigation, as a cost saving measure.Rights, Rights, BabyFor many software and service offerings, the information received from users (i.e., photos, written content, reviews, purchase transactions, behavioral tracking, and other data) serves as an essential element of your value proposition. But have you properly secured the right to the use of this information? For creative material, the copyright vests in the author and you will need to ensure you have been granted the right to the use of this material. Your Terms of Use is the vehicle to obtain a license to the use of any intellectual property that a user provides on your platform.Terms of Use can allow a license to any IP a user provides on your platform.Oftentimes, platforms with user-generated content tend to allow users to retain ownership to their content, but take a very broad license for the use of the material. This heavy-handed approach can cause customer satisfaction issues, as evidenced by the backlash Facebook and other content sharing sites have experienced when they expanded their rights to the user content. This license needs to be crafted for your specific business requirements to secure the rights you legitimately need to fulfill your platform objectives.This information collection also raises the issue of privacy rights that is a topic in its own right and addressed in a separate article covering the usage of Privacy Policies.User Generated HeadachesMany platforms allow for users to create content that is visible to other users on the platform or publicly. Often times this user generated content includes the ability for users to upload photos, audio, or video to make the content more engaging and attractive. The viral user video that got all the press for your platform? Turns out it included clips from Game of Thrones and HBO isn’t happy about the copyright infringement.DMCA can provide a defense against user copyright infringement liabilityFortunately, you can provide a defense for your business from copyright violations your users may create by virtue of complying with the Digital Millennium Copyright Act (“DMCA”). The DMCA helps protect businesses and apps from having legal liability for any copyright infringement that takes place due to the actions of its users, if they follow the procedures required. While the DMCA is a United States law, other countries around the world have laws regarding copyright infringement.In order to comply with the requirements of the DMCA defense to infringement, your Terms of Use need to include (a) clause that states you will take down/remove any material that turns out to be copyrighted if the violation is brought to your attention, (b) provide a method by which the third-party copyright owner can report a copyright violation, and (c) have a policy in place for responding to take down notices for violating material reported.Unlawful ContentIn addition to the copyright issues from user generated content, your business can still run afoul of content considered unlawful in any number of jurisdictions around the world. Many jurisdictions worldwide have laws restricting material that is considered hate speech, inflammatory, child pornography, graphic violence, depictions of abuse, and other material considered unlawful content. These interpretations vary widely in their scope and breadth.Your Terms of Use can address this issue through a relatively straightforward clause restricting any unlawful content and stating your policy of removal of any such offending content upon review.SummaryHopefully, you have developed an appreciation for the benefits and risk mitigation measures springing from having a comprehensive Terms of Use tailored to your specific business requirements.While not required by law, one of the greatest benefits to having an effective Terms of Use for your business is the intangible one from having clarity of your users on their expectations and responsibilities in using your software and services and will pay dividends in customer satisfaction.You can learn more about terms of use and intellectual property protection by visiting this Intellectual Property Introduction page.Feel free to contact Feras Mousilli at Lloyd Mousilli, LLC if you would like to discuss your terms of use strategy.last_img read more

BCCI forms special committee to probe England tour debacle

first_imgThe BCCI on Monday formed a special committee to probe the Indian team’s debacle during their England tour. Giving this information, BCCI president N. Srinivasan said the panel would be headed by former cricketer Mohinder Amarnath and former captain Anil Kumble.The decision was taken at the board’s annual general meeting held in Mumbai.India were whitewashed in the Test series, followed by a one-off Twenty-20 match and finally in the ODI series.The board, however, appealed to Indian fans to support Team India, saying, “The Indians will bounce back. It was a bad series.”Earlier, sources had told Headlines Today that Amarnath might replace Yashpal Sharma as the representative from the north zone in the BCCI selection committee.India’s first World Cup winning team member Amarnath had once called the selection committee a bunch of jokers.The BCCI chief also said former captain Sourav Ganguly will replace Sunil Gavaskar as the technically committee head as the former opener “has resigned”. “We are yet to get his (Sourav’s) consent. I hope he agrees,” Srinivasan said.last_img read more