Business and Industry Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Business and Industry.
A retirement fund plays an important role in establishing a comprehensive estate plan, and we answer the most frequently asked questions regarding 401K accounts, the popular employer sponsored plans.
Before 1 June 2009 a concept of shareholders agreements was not recognized as a matter of Russian law. That is why joint ventures, project finance or structured M&A deals have been closing with the help of offshore vehicles. Now as the relevant amendments entered into force, Ligerion Group assess what is the route business is taking and what is the Russian court practice.
Don’t procrastinate when it comes to estate planning; do your estate planning early. Why? Because you may become incompetent or uninsurable. If that happens, it is likely that your estate planning goals will not be met.
Each individual has the chance of becoming incapacitated at some point during his or her lifetime. For many people, incapacity is more likely each year than death.
Clearly Cyprus holds great attraction as a business venue for investors – Michael Chambers explores why so many international businesses entities are drawn to Cyprus and how you can take advantage of the venue yourself.
Cyprus undoubtedly offers a considerably advantageous base for any business. Offering a highly beneficial taxation system and located at a geographically favorable position – it is little wonder that Cyprus enjoys a reputation as an international business center of excellence. However, before a company can be created, certain fundamental decisions need to be made about the kind of legal entity required and the manner in which it will operate.
The Civil and Commercial Code (CCC) of Thailand is the main source of legislation which provides who may and who may not get married under Thai laws.
The author has prepared this document to assist in the evaluation of alternatives offshore structures for the better planning of their assets, estate and business transactions.
The transfer of technology was firstly regulated by virtue of the Egyptian Commercial Code No. 17/1999. The above mentioned Law regulates the transfer of technology issue from Articles 72 to 87. The provisions of the aforementioned Law shall be compulsory applied to any transfer of technology agreement that shall be implemented in Egypt.
If you were to put your mind to the question you may assume that a significant percentage of people don't have an estate plan in place.
Theoretically speaking Medicare has always been intended to be a program that provides senior citizens with a health care safety net while Medicaid exists to give people with limited financial means access to medical treatment. However, over the years Medicaid has become more and more important to many of our nation's seniors, largely because of the fact that Medicare does not pay for long-term care expenses.
Cyprus fully recognizes the possibility that minority shareholders in a Company may become oppressed or unfairly prejudiced against on behalf of the controlling or majority shareholders and/or the board of the Company. There are various situations in which either the Company or minority shareholders’ interests are harmed by the majority shareholders under Cyprus law and the available remedies in such cases.
By OPARA Law PC
Canada is the foremost foreign destination for expanding franchises and a preferred entry point for cross border franchisers, especially for those seeking to enter the North American market. With high per capita personal incomes, a stable and reliable economy, and a sophisticated consumer culture, many franchisers find Canada to be an opportunistic and rewarding market. However the Business Franchise Law in Canada is too stringent and hence seeks attention.
While mergers and acquisitions have considerable advantages in terms of efficiency, they may also lead to significant employment issues and carry potential liabilities for the merging parties, especially when they involve large group of employees. The parties can reduce the risk of claims and detrimental effects of such mergers by addressing the issues in the negotiation process.
Americans who are relying on Social Security too heavily can find it difficult to get by, especially given the ever-increasing costs that they face. The law does allow for regular cost-of-living adjustments that are tied to the rate of inflation on a yearly basis.
Al Davis was an enigmatic figure who was loved by most in the “Raider Nation” but was sometimes criticized by outsiders.
A business organization may either perform its business activities from a certain place or establish work places in accordance with the necessity of the business activity. Some of such business organizations may perform similar activities of the headquarters within the directions of the headquarters (e.g. banks).
As per Turkish Law, foreign or domestic companies may establish a branch office in order to execute their activities. A branch office shall have no legal entity and shall be registered with the Trade Registry and represented by one or more representative/branch manager.
In line with the present legislation related to corporate law and the Turkish Commercial Code, joint stock company and limited liability company are the two most common company types. You may find a chart below that designates the fundamental characteristics of a JSC and its differences from a LLC.
A share is the part of the main capital divided to a specific number of unit value. In accordance with the current Turkish Commercial Code it is not mandatory for a Joint Stock Company to issue shares. JSC reserves two types of shares. These are registered share and bearer share.
Unfortunately too many people don't take retirement planning seriously enough, and as a result a significant percentage of Americans are not prepared.
We live during a time when everyday people can find information on just about any subject with the click of the mouse.
Many people choose to invest in life insurance. This can be a great way to offer protection to your loved ones, especially if you’re a provider for your family.
There are many things to consider when you are arranging your affairs financially for the latter portion of your life. Depending on the exact nature of your wishes and the form that your assets are in, a number of different financial instruments could be utilized in combination.
When you lose a loved one, give yourself time to grieve. Whether the death was sudden or expected, it is often best not to rush to make the decisions that are needed. One way to minimize the issue is by proper estate planning.
Everyone has one or two business ideas or adventures they would like to embark upon at one point or another. Some of these ideas turn into businesses immediately, while others need considerable work prior to doing so.
In many cases, family members help their loved ones with their long term care needs. This may be a better option than bringing in a stranger.
When asked to serve as guardian for a loved one’s minor children, you may feel compelled to serve. After all, you love your brother, sister, friend or cousin and their children.
A will is one of the most important estate planning devices. If you’re ready to execute a will, it’s a good idea to make sure that you understand the uses for this important document.
We live in the Internet age, and as a result there is a vast store the information available to all of us sitting right at our fingertips.
In this article, I give you a quick overview of the major regulatory compliance areas for physicians and medical practices, namely: Referral Laws -- Anti-Kickback and Stark Self-Referrals; Billing Medicare and Other Payers; HIPAA; and Supervision of Staff.
If you have a California corporation, you’ve seen this scam. By way of background, all corporations must file with the California Secretary of State an “Annual Statement of Information.” The form asks for basic information about the corporation such as the names and addresses of the directors and officers, and the filing fee usually is $25.
Choosing an Executor to handle your estate after you pass is difficult. It is tempting to name a spouse or family member – but do you know the responsibilities and duties of an Executor? An Executor is named within a will to administer an estate, and they will be tasked with several responsibilities during the probate process, which is the legal process that takes place in Probate Court that handles the administration of a deceased’s estate.
People live busy lives and we are constantly being inundated with new challenges on a day-to-day basis.
On March 4th 2011, Ministry of Commerce (“MOFCOM”) issued the Interim Rules on Implementation of a Security Review System regarding M&A Transactions Executed by Foreign Investors over Domestic Enterprises (the “Interim Rules”), which will come into effect on March 5th, the same day the Notice on the establishment of a security review system regarding merger and acquisition (“M&A”) transactions over domestic enterprises executed by foreign investors (“the Notice”) comes into effect.
Security Review System Regarding M&A Transactions Executed by Foreign Investors over Domestic Enterprises - China
Notice on the establishment of a security review system regarding merger and acquisition (“M&A”) transactions over domestic enterprises executed by foreign investors (“the Notice”) was issued by China's State Council on February 3, 2011, which will come into effect on March 5, 2011.
Search and seizure law protects one of the fundamental rights for Americans. In fact, the Founding Fathers thought that search and seizure was so important that they put it in the Bill of Rights: the Fourth Amendment to the Constitution says that the police are not allowed to do unreasonable searches and seizures.
For the year 2011, the Turkish Government has set a budgetary target of USD 9.5 billion for its privatization proceeds. This is a challenging figure, constituting more than 15% of the aggregate of the last 25 years.
When it comes to preparing your financial assets for transfer after your death, an estate planning attorney's advice is going to be invaluable on many different levels.
When retirement planning attorneys emphasize how important it is to make preparations for the future they do so because they are fully cognizant of the facts.
There are some estate planning instruments that can fit into your estate plan perfectly under certain circumstances that are not typically understood by the layperson.
Because a friend was recently hospitalized with a heart condition, Henry is thinking about his own financial power of attorney. Is it time to update?
Many clients ask whether they really need an estate plan. After all, they don’t have a cattle ranch, oil wells, or gobs of money.
Simple wills often provide that all assets will pass to the spouse; and, if the spouse is not then living, to all children, divided equally.
In this article, the author will briefly describe the procedure for registration of enterprises in the Republic of Moldova.
Cyprus is considered one of the safest European countries to invest in since its market is growing at a stable rate and its prices are competitive. If every perspective purchaser bears in mind the following points then a safe and prosperous investment will be carried out.
The Money Laundering (Prohibition) Act 2011 provides for comprehensive provisions to prohibit the financing of terrorism, the laundering of the proceeds of a crime or of any illegal activity. This Law further provides for a wide range of penalties and expands the scope of the supervisory and regulatory authorities in Nigeria to combat money laundering offenses. The fact that a money laundering offense was committed in different jurisdictions or different parts of the world is no longer relevant.
Background BKPM holds 2 (two) types of services on investment activity for the investor in the territory of Indonesia, which is the licensing service and the non-licensing service. Based on Article 1 paragraph 6 of Regulation of Chairman of BKPM Number 12 of 2009 (“Perka BKPM 12/2009”), what is included in the licensing services is any type of agreement to conduct investment which is issued by the Government and local government who has the authority under the regulations.
In Indonesia, regulations concerning Limited Liability Companies are stipulated under the Law Number 40 of 2007 on Limited Liability Companies (“Company Law”), which replacing Law Number 1 of 1995 Concerning Limited Liability Companies. Inside Company law, there are regulations of register of shareholder.
Background Foreign Company Representative Office/ Kantor Perwakilan Perusahaan Asing (KPPA) is the representative office established by foreign company or foreign companies outside the territory of Indonesia with a view to manage the interests of the company or the affiliated companies in Indonesia and/or in other countries and/or to prepare the establishment and development of foreign investment companies in Indonesia and/or other countries.
Before you decide to franchise your restaurant or business, there are a number of things you'll need to consider. This article examines five of these considerations: Is your restaurant "franchisable?" Have you opened more than one location? Are you able to support franchisees? Do you have a plan for marketing and advertising? And are you legally ready?
These are interesting times in the elder law community because of the fact that the population is aging so rapidly.
By TIM Services
Choosing which type of legal entity to register is one of the most important stages before undertaking business activity in Russia. The type of legal presence will influence all activity, including financial and tax reporting, customs and currency control. Therefore, an investor should pay special attention to determining the appropriate corporate form which will help him achieve his goals while meeting all legal requirements.
By TIM Services
According to the Part IV of the Civil Code of the Russian Federation the following requirements are established for corporate names of organizations.
If you’re like some people, you may assume that only rich people or people with kids need estate planning.
A Guardian / Conservator is appointed by the Court when someone is unable to make their own decisions and/or ensure their own care.
An overview of the role of assisted living facilities in maintaining the lifestyles of senior citizens,and when to consider a move to an assisted living facility.
By Molina & Co.
Panama and the United States approved the Trade Promotion Agreement (TPA).
By MMLC Group
This article looks at the Chinese competition law issues associated with the recently announced acquisition of China's Hsu Fu Chi, by Nestlé’s. Some are concerned that the transaction may not be approved by China's Ministry of Commerce on competition grounds, given its apparent similarities to the failed Coca-Cola/Huiyuan transaction.
Microsoft is currently in the process of acquiring the well known VoIP (Voice over Internet Protocol) provider Skype. This move has caused a great deal of concern to competing companies, some of which have filed objections in all applicable jurisdictions where the merger is being examined.
It is vital for businesses to carry some type of insurance coverage in order to abide by the law. It is wise to have a business attorney involved in the decision making process in order to avoid future legal disputes.
By MMLC Group
This update looks at major recent developments in legal and business issues in China.
Building a successful business embodies the American dream. As companies expand and the need to hire more employees increases, it becomes imperative to have all of your legal issues covered; therefore your business can be protected from legal ramifications.
Many people assume that because they’re young, healthy, and single, they don’t need an estate plan. You may think that you need to have a family to protect or need to be battling an illness in order to take the time to plan. This is not the case. Now is the time to create an estate plan if you are age 18 or older. Take a look at the following information to learn more.
By DCA Abogados
The legislation of the Dominican Republic contains an estatute that protects the agent or local distributor in his relationships with the foreign licensor. In fact, the Law 173, of 1966, de Protección a los Agentes Importadores de Mercaderías contains several dispositions that shall be noted when doing bussiness in Dominican Republic, some of them are the followings:
Whether you are the gambling type or not, you have no choice but to be involved in a high-stakes gamble regarding the estate tax. Depending on the whims of the lawmakers in Washington, your family may wind up paying nothing at all to the IRS or millions of dollars on the same amount of money.
It can be stressful and overwhelming for Grandma to think about the possibility of long term care,especially a nursing home.
The federal government and many states impose an estate tax on the value of your assets at the time of your death
Trusts are not just an estate planning tool to provide for your human family members. Many states now recognize "Pet Trusts" that allow you to consider your dog, cat or other companion animal as part of your estate plan.
The Foreign Business Act (1999) of Thailand (the "Act") generally restricts foreigners from engaging in most business activities in Thailand, without special permission as provided by the Act. Serious violations of the Act by a foreigner or facilitated by a Thai carry significant criminal penalties.
If you are doing business in Thailand you might have already had some experience with the local court system. An all too common complaint of the local business community is that court proceedings in Thailand are agonizingly slow.
A Sovereign Investment Authority (Establish, Etc.) Act, 2011 has established for Nigeria a Sovereign Investment Authority. This Authority is charged to receive, manage and invest in diversified portfolios the excess of the medium and long term revenue of the Federal, States, Local Governments and Area Councils. The Proceeds of these investments are statutorily required to create a savings base for the country, develop infrastructure that will attract local and foreign direct investments.
A lot of individuals who have not done any research into the subject assume that they are going to be drawing up a last will when they get serious about estate planning. In fact, you’ll see websites out there contending that planning your estate is the easiest thing in the world. All you have to do is purchase a blank generic last will document and fill in the blanks and it is as simple as that.
Many parents with children under the age of 18 create a will to name a guardian for their children should both parents die unexpectedly. While they name a personal guardian for their children, what about the financial aspect – particularly if their children inherit the parents property outright as well?
A Limited Liability Company (LLC) is an important investment vehicle for Israelis who operate in the US. An LLC is a company incorporated under the laws of one of the US states. In practice, LLC’s are often formed in the state of Delaware for administrative ease. They are relatively cheap to form and run. An LLC does not have shareholders, but rather members.
Don't think you need contracts for your website? Think again! Consult a lawyer today that specializes in internet law.
If you’re a small business with an e-commerce website you’d be best served making sure your site does substantiate understanding of the transaction and it does confirm assent to the terms in what the courts have uniformly called a “fair and forthright” manner. Here are five tips to help you do just that.
Estate planning is something that a lot of people put on the back burner for any number of reasons. Perhaps the most common one would be the fact that many individuals look at the average life expectancy of 78 years plus and figure that they have plenty of time before they have to start taking estate planning seriously.
Marketing and Advertising on the Internet is subject to the same laws as any other medium. Sometimes people do not follow those rules, and the FTC or State AG is involved.
A trust is a powerful estate planning tool,and there is more than one way to create a trust,including…
Unusual last wishes are nothing new in the estate planning business, in fact, there are several famous last wishes throughout history, including: Napoleon Bonaparte left a wish to have his head shaved and the hair divided up amongst his friends.
When an entrepreneur wants to form a business, it is be important for them to carefully select which type of business structure will best suit their needs. A business litigation attorney will be able to explain the advantages and disadvantages of each type of structure along with the tax consequences and how they will affect you.
There is this thing called spoliation of evidence and if you get caught doing it, well, just take out your wallet and start spilling the Benjamins.
What Constitutes a Supplementary Award of CIETAC Arbitration? – A Recent Interpretation by a Hong Kong Court
In an action brought before the Court of First Instance of High Court of Hong Kong Special Administrative Region (“Hong Kong”) for enforcing a CIETAC arbitral award earlier this year, Justice John Saunders rejected a claim that three official letters issued by the Secretariat of CIETAC constituted a supplementary/additional arbitral award.
When you are engaged in the process of estate planning one of the primary objectives is going to be to do what is necessary to prevent asset erosion.
They say that time flies, and it would appear as though a significant portion of the baby boomer generation is finding out just how true this statement is.
It is always sad to see a person pass away at a young age under any circumstances and perhaps we really shouldn't place celebrities on such a pedestal.
Do you want to know about areas of investment permitted for investment according to Ethiopian law?
Estate planning is an involved endeavor on a number of different levels. Of course you have to prepare your assets for eventual transfer to your loved ones, and this can be rather complicated for some people.
This articles presents in a summary form the operation of a Cyprus company.
There are folks who go through life with the vague belief that they will be retiring when they reach their middle 60s without recognizing the fact that this is not a given. The word “retirement” can sometimes sound like a entitlement and it would certainly be nice to be able to relax and enjoy the latter portion of your life without having to work. But in the end, the word simply defines the decision to step away from your career.
At the present time there are 10,000 people applying for Social Security for the first time each and every day because of the fact that the baby boomer generation is reaching retirement age. This in itself is a stunning statistic, but when you hear that this number of daily applicants is expected to persist for the next twenty years it really gets your attention. Are all of these people prepared for retirement financially?
When you are planning your estate failing to remember all of the people that you would like to include on your inheritance list is probably not going to be much of a concern. Yet, you may be surprised to hear that there are a lot of people who actually do fail to make provisions for loving dependents who are actually still living at home.
Understanding all the options that are available to you is key when you are planning for your retirement years. This is one of the reasons why it is a good idea to work with a retirement planning attorney well in advance of your retirement so that you can tap into that expertise and formulate a fully informed plan.
On the 06th of July 2011 the High Specialized Court of Ukraine on civil and criminal cases finally put an end to a long and fascinating story named "the legitimacy of concluding loan agreements in foreign currency."
This article aims to highlight the most essential legal requirements of Ukrainian legislation to foreign economic contracts which should help foreign companies to identify certain principal points subject to negotiations between the parties.
Any joint stock company, if it has at least two independent shareholders, is a center of interest of several parties being in diverse relations. The interest of each of the "co-owners" certainly has its vector. At that rate, the appearance of conflict situation is just a matter of time. The greater is the difference in the objectives of interests the less time is needed.
This article provides a brief overview of certain aspects of the Ukrainian antimonopoly regulations that may be of some help while considering the necessity of obtaining Ukrainian antimonopoly clearance in transborder M&A transactions.
Whether it’s a start-up project or a successfully running company, at some point in time every business faces a need to raise money for a variety of reasons. There are two basic ways to raise capital: either debt or equity. This article focuses on comparative analysis of primary disclosure requirements for debt and equity offerings.