Michael D. Stovsky
Chair, Intellectual Property Practice Group; Team Lead – IP and Technology Transactions
Overview
Mike leads Benesch’s Intellectual Property, Technology Deals, Data Security and Privacy, and Blockchain and Smart Contracts practices.
He has nearly three decades of experience representing technology companies from start-up to growth stage, middle market to Fortune 50, as well as major regional and national venture capital and private equity funds and their portfolio companies, and as lead outside counsel on technology transactions, intellectual property, privacy and data security, CIPP/US, GDPR DPO, and Metaverse law.
Mike provides advice and guidance with respect to the protection of trade secrets and other confidential business information, drafts and reviews confidentiality, non-competition, and non-circumvention agreements, and performs due diligence with respect to trade secret and confidentiality issues in the context of technology deals and M&A transactions.
He negotiates, closes and manages risks associated with complex, high-value, intellectual property and technology transactions and matters including:
- Systems implementation deals (including multi-site installed and cloud ERP, CRM, VOIP and ECM implementation transactions), strategic alliances, eCommerce, development, reseller, professional services, service level, telecomm, network services, equipment purchases, support & maintenance, and managed security services;
- Technology M&A (including substantial IT, FinTech, and data-centric deal practice), joint ventures and technology collaborations, and representation of VCs, PE funds, family offices, and their portfolio companies in capital formations, acquisitions, and divestitures including sophisticated due diligence and analysis, rep and warranty insurance issues, and risk allocation and mitigation;
- Metaverse, DeFi, and Web 3.0 law, blockchain platforms, distributed computing and ledgers, smart contracts, digital signatures, electronic contracts, crypto, NFTs, DApps, and DAOs;
- Life sciences technology transactions and M&A including pharmaceutical, biotech, medical devices, and agribusiness, collaboration, and license deals for major health systems, health product distributors and vendors (including EMR, EHR, RCM, and VOIP implementations);
- Inbound and outbound IP, IT and technology procurement, licenses, technology transfers, SaaS, IaaS, PaaS, BPaas, and TaaS deals, and IP acquisitions and divestitures, joint ventures, and open source issues;
- Global business process outsourcing transactions;
- Global data security and privacy compliance under US, Canadian, and EU law (EU GDPR and ePrivacy, CCPA/CPRA and other state law, HIPAA/HITECH, Gramm Leach Blilely, COPPA, FTC Act and Red Flag rule compliance), PCI-DSS, ISO 27001, ITIL, COBIT, and NIST standards, and data classification, breach response, records retention and destruction, and policies/procedures; and
- IoT and Industrial IoT (IIoT), 3D printing, and additive manufacturing.
What I Do
Featured endorsements
Experience
Served as outside counsel in connection with the completion of an agreement for the sale of Summa Health to HatCo. This represents one of the most significant healthcare system transactions in Ohio in recent years and one of the first in which a major health system has been sold to an affiliate of a private equity fund.
Represented a private equity buyer in its acquisition of a wholesale distributor of pipes, valves, and fittings.
Served as outside counsel to a developer of surgical instruments and spinal implants in connection with business issues, financings, sales of product lines and intellectual property and technology contracts and issues.
Served as outside counsel to a national real estate investment trust in connection with a major ERP software license and integration transaction with a major international software vendor.
Served as outside counsel to national condominium and apartment developers and owners in connection with satellite and cable television, broadband Internet access and VoIP services implementation agreements
Served as lead outside counsel to a major international tire and diversified products manufacturer in connection with a multimillion dollar business process outsourcing transaction with Salesforce.com to provide and implement SaaS.
Served as outside counsel to a Cleveland-based VoIP service provider in connection with a major ERP software license transaction.
Served as outside consultant to State Senator Eric Fingerhut with respect to the formulation of the Ohio Digital Signature Act – an amendment to the Uniform Commercial Code in Ohio to expressly permit digital signatures, including the formulation of the initial proposal for digital signature legislation for the State of Ohio, the preparation of materials for use in the drafting of a digital signature bill, aiding the Senator to develop broad-based bipartisan support for the measure, and participation in the legislative process.
Served as outside counsel to an international polymer and diversified products conglomerate in connection with intellectual property matters and technology contracts and issues, including data security and privacy and information technology services outsourcing.
Served as outside counsel to a consortium of major international software developers in connection with the analysis of intellectual property and business aspects of software patent portfolios, and the acquisition of software patent portfolios
Served as lead outside counsel to a major, international tire and diversified products company in connection with a $180 million technology services transaction with Verizon for the provision of all network services in the western hemisphere.
Served as lead outside counsel to a major, international, publicly traded manufacturer in connection with a multimillion dollar business process outsourcing transaction with SuccessFactors to provide IaaS for the storage of worldwide employee data.
Represented Vantiv, a leading provider of payment processing services and related technology solutions, in its acquisition of Moneris Solutions USA.
Provided document retention and destruction policy guidance and advice and prepared comprehensive document retention and data security policies for a publicly traded international manufacturing company.
Provided document retention and destruction policy guidance and advice and prepared comprehensive document retention and data security policies for a national real estate development company.
Provided document retention and destruction policy guidance and advice and prepared comprehensive document retention and data security policies for a major, international sports marketing firm.
Provided data breach disclosure compliance services to a significant, Ohio based non-profit entity with respect to a data breach event involving customer data on customers residing in the State of Ohio.
Served as outside counsel to a provider of onsite and online health care screening programs and related content and services in connection with general corporate intellectual property and technology matters.
Served as outside counsel to a national manufacturer of greeting cards and novelty items in connection with intellectual property and technology contracts and issues.
Served as outside counsel to a provider of logistics planning services to small and middle market companies in connection with general corporate intellectual property and technology matters.
Served as lead outside counsel to a major international polymer manufacturer in connection with a multimillion dollar business process outsourcing transaction with Sterling Commerce to provide and implement SaaS and IaaS.
Represents a growing computer network monitoring business in connection with its managed services agreements and corporate strategy.
Provided advice and counsel regarding global data security and compliance for a publicly traded, international manufacturing company.
Represented Worldpay in its acquisition of Moneris Solutions, Inc. from Moneris Solutions Corporation for $425 million.
Served as outside counsel to a developer of magnetic resonance imaging equipment in connection with intellectual property commercialization and protection issues, and corporate and securities matters, including aspects of $15 million venture capital finance transition.
Represented the home health division of this major national health products distributor in several complex, high value information technology implementation transactions involving transformative systems with major national and international vendors. Vendors included Cognizant and Deloitte. Representation resulted in the successful negotiation, documentation and completion of transformative information systems integration transactions involving the company’s enterprise operations.
Served as outside counsel to a Cleveland-based electrical parts distribution company in connection with a major ERP software license transaction with a major international software vendor.
Served as lead outside counsel to a major, international, publicly traded manufacturer in connection with a large scale IaaS implementation transaction with Amazon Web Services.
Served as lead outside counsel to a major international steel products company in connection with mobile application licensing on all major platforms (Amazon, Google and Apple).
Served as outside counsel to a major Ohio-based hospital system in connection with information systems, software license agreements and related technology issues, including a system-wide, multi-state VoIP implementation with major national and international equipment and service vendors.
Served as outside counsel to an international adhesives manufacturer in connection with the resolution of a dispute with a national ERP software vendor, the resolution of intellectual property issues in a significant international outsourcing transaction, the negotiation of a major multi-site ERP software license transaction with a major national software vendor, and with intellectual property and technology matters.
Completed a $67 million SAP implementation transaction for the entire Canadian business enterprise of an American global manufacturer and marketer of consumer and professional products.
Represent one of the pre-eminent internationally known technology companies in the field of virtual reality and augmented reality that is developing consumer technologies that will be instrumental to engaging in social networking and business transactions in the metaverse.
Represent one of the leading blockchain development companies in the United States with blockchain based applications that will be essential to connecting the physical world with the virtual world.
Represent a nationally known digital architecture firm that has developed a unique cutting-edge technology applicable to creating spaces in the metaverse.
Handled transactions on behalf of clients with national and international hardware, software, systems and medical device/life sciences companies.
Represented a major US private equity fund in connection with a multi-million dollar enterprise-wide SaaS subscription services agreement with salesforce.com.
Represented one of the largest manufacturers in the United States in connection with a $65 million global business process outsourcing transaction involving operations in the United States, Europe, South America, and Asia.
We serve as lead outside intellectual property and technology transactions counsel. Lead counsel in connection with a multimillion dollar software systems implementation transaction involving one of the largest software vendors and software integration firms in the world. The matter represents one of the largest copyright related licensing and services transactions in the region and displays our expertise in handling extraordinarily sophisticated, complex, high value IP transactions for the largest companies in the United States. We negotiated and documented the transaction, and provided counsel to our client in all facets of the transaction.
We serve as lead outside intellectual property and technology transactions counsel including the management and prosecution of the company’s extensive patent portfolio, and the negotiation and documentation of significant IP development, licensing and commercialization agreements. In connection with this, we recently completed a significant transaction with Flow Pharma, a major US pharmaceutical company located in San Francisco, California.
We serve as a lead outside transactional counsel to Infosys in connection with the negotiation and documentation of a variety of IP oriented technology transactions.
Negotiation, documentation and completion of a significant ERP software implementation transaction with a major, international healthcare software systems vendor involving the license of significant intellectual property assets and rights (software) and a substantial systems integration component with two of the largest systems integration firms in the world (HealthX and Wipro).
Representing a major healthcare technology company in several information technology implementation transactions involving transformative systems with major national and international vendors.
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Credentials
Education
Clerkships and Bar Admissions
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- Member, Jewish Federation of Cleveland
- Committee Member, Technology Committee
- Committee Member, Security Committee
- Committee Member, Overseas Connection Committee
- Chair, OCC STEM Education Subcommittee
- Co-Chair, Yom Ha’atzmaut Celebration Event (2020-2021)
- Member, Board of Trustees, Friendship Circle of Cleveland
- Member, Digital and Technology Advisory Committee, Cleveland Museum of Art
- Member and Co-Chair, Legal Node – Legislation Subcommittee, Blockland Cleveland
- Member, Cleveland Metropolitan Bar Association
- Member, American Bar Association
- Member, Committee on Law and Commerce in Cyberspace, Business Law Section
- Member, Science and Technology Law Section
- Member, Licensing Executives Society
- Member, Leadership Cleveland (Class of 2010)
- Former Member, Board of Trustees, Providence House
- Former Member, Board of Trustees, Beachwood Schools Foundation
- Former Member, Host Committee – 2019 Shout Out!, Cleveland Rape Crisis Center
- Former Board Member, IP Advisory Council, University of Akron Law School
- Former Adjunct Professor, Case Western Reserve University Law School
- Former Member, Anti-Defamation League National Commission
- Former Member, Board of Trustees – Ohio Region
- Listed, Chambers USA Leading Lawyers, Intellectual Property, 2022-2025
- Listed, Crain’s Cleveland Business “Notables in Law” (2022)
- AV Rated, Martindale-Hubbell Peer Review
- Listed, The Best Lawyers in America®: Information Technology (2007-2026), Technology Law (2023-2026), IT Outsourcing Law (2023-2026), Data Security and Privacy Law (2023-2026)
- Listed, Ohio Super Lawyers (2006)
- Listed, CrainTech’s “Who’s Who in Technology” (2002-2006)
- Recipient, Crain’s Cleveland Business “40 Under Forty” Award (1999)
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