January 27, 2014 // Franchising.com // Shanghai - A deal led by Faegre Baker Daniels' corporate practice was named a "Joint Venture of the Year" by China Business Law Journal for 2013. The $237 million joint venture between FaegreBD client BesTV and Microsoft was recognized for receiving the first business license issued by the Shanghai Free Trade Zone.
FaegreBD represented BesTV New Media Co., Ltd. in its joint venture with Microsoft to become Home Entertainment Development. The company will engage in sales, distribution and marketing activities with respect to Microsoft's new generation of all-in-one gaming products.
"The establishment of the joint venture represents a possible lift on China's 13-year ban on foreign game console sales," said corporate partner Wendy Yan, who led the team. "This case also involves complex licensing and service arrangements between the parties in light of the current Chinese regulatory environment for the media and entertainment industry."
China Business Law Journal's independent editorial team selected winning deals, which were chosen based on a number of factors other than monetary value. The overall significance, complexity and innovative nature of the deals were also considered.
In addition to Yan, the team included associate Leo Tian, consultant James Zhang and partners Gary Weinstein and Brenda Robinson.
SOURCE Faegre Baker Daniels'
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