SPS LEGAL:
BUSINESS CONSULTING COMPANY

Legal support for a cryptocurrency exchange from obtaining a license to preparing user documentation.

Advising a payment system from Hong Kong on the implementation of internal compliance mechanisms, preparation of client agreements and internal documentation. Dispute resolution in Hong Kong and other countries

Contract support for the creation of NFT paintings for the Tretyakov Gallery

The specialists of SPS Legal assisted in creating non-interchangeable tokens (NFT) based on a digital copy of paintings from the Tretyakov Gallery's collection. Specifically, the lawyers prepared an art licensing agreement between the museum and the British NFTLab platform. As part of the agreement:

- the paintings were insured against possible harm in the creation of their digital unique copy;
- the amount of commission the gallery receives from the sale of NFT paintings was established;
- work was done to identify legal risks in the contract;
- regulated promotional activities consistent with the museum's reputation;
- the ways of paying taxes on the sale of digital copies of paintings have been established;
- guarantees, compensation in case of damage, and the right of ownership are enshrined.

For example, in early 2022 the Tretyakov Gallery in partnership with NFTLab created a unique token for Mikhail Vrubel's painting "The Demon (sitting)" for 4.79 ETH (about $14 thousand). The Russian museum presented this NFT-painting to the American performer Justin Bieber. A total of 36 digital copies of works of art from the collection of the gallery were placed at the NFT-Auction. The most expensive of the collection was the NFT-token for a painting by Ivan Argunov "Portrait of an Unknown Woman in Russian Costume" for almost 45 ETH (about $124 thousand).

Enforcement of the award of the International Commercial Arbitration Court - 2020
Support of a case before the International Commercial Arbitration Court (ICAC). Represented defendant contractor in a dispute with a British company, based on a construction contract. The plaintiff claimed, based on Articles 450, 715 and 103 of the Russian Civil Code, that the contract should be terminated due to non-performance by the defendant of its obligations under the contract, and recover the advance payments made by the plaintiff. The contractor argued that the work was performed on time, there were no grounds for withdrawal from the contract.

In this case, the specialists of SPS Legal:
- prepared the defendant's position;
- Represented the interests of the Russian organization in the court of arbitration;
- assisted in the collection of evidence;
- prepared all the necessary documentation;
- secured representation in the United Kingdom judicial system.

The court only partially granted the plaintiff's claims and imposed liability for additional compensation of expenses incurred by the defendant. Subsequently, it was necessary to enforce the decision of the ICAC in Great Britain. As a result, the judgment was enforced.