OFT proposes guidelines on in-app purchases
Following its market investigation, the Office of Fair Trading (OFT) has published draft principles for the makers of online and app-based games.
The use of in-app purchases has become increasingly popular, particularly in games. This monetisation model involves the sale of game play extras to users in order to add an extra revenue stream. For example, the hugely popular app game ‘Infinity Blade’ enables users to purchase swords and other in-game items with real money for use in virtual battles as they progress through the game.
Although games such as ‘Infinity Blade’ mostly appeal to adults, there has been a marked increase in the number of games that use in-app purchases that are targeted at children. Public awareness of the issue was raised earlier this year by several high-profile news reports of children who had spent a fortune on in-app purchases — such as the British child who spent £1,700 playing ‘Zombies vs Ninja’ and another who purchased £980 worth of virtual doughnuts in ‘The Simpsons: Tapped Out’. It was, therefore, unsurprising when the OFT announced in April an investigation into the ways in which online and app-based games encourage children to make purchases…
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
For the tax year from 6 April 2014, the standard lifetime allowance has reduced from £1.5m to £1.25m.
One of the areas highlighted last year by the Regulator was the regulation of workplace DC pension schemes.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world