Business and Industry Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Business and Industry.
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.
The fundamental transformation in Turkish economy has been observed during the massive privatization process since 1994. The investment opportunities in Turkey are particularly attractive in the framework of country’s ongoing attractive privatization agenda. The involvement and participation of international investors is highly encouraged by the law in course of current privatization program.
It is a fact that, the Turkish Commercial Code (hereinafter referred to as TCC) numbered 6267 and dated 1957, has been implemented and in force more than 50 years. While most of the European Countries have made amendments to their commercial regulations in accordance with the recent developments, no major amendments were made to the TCC. On this ground, it became insufficient in terms of new market requirements and need of global market economies developments.
This article provides information to law firms and their clients to help them strategize on how best to get their foreign commercial arbitration awards enforced in Ghana.
No matter whether contracts are written or oral, they are meant to fulfill a promise – and when they’re broken, the non-breaching party can pursue legal remedies. Breach of contract is one of the leading causes of lawsuits for damages and court-ordered “specific performance” of the contract in the U.S. courts.
Recently, many local and international investors request to obtain more information as regards Turkish Natural Gas Market Law. The main aim of this article is to ensure a brief overview on Natural Gas Market Law in Turkey and accordingly to inform the readers concerning essentials of the legal structures such as the sources of natural gas market law, the type of natural gas market licenses, administrative procedures, administrative fines and sanctions and competition.
The main aim of this article is to introduce business establishment models and procedure in Turkey to foreign direct investors who has intention of doing business in Turkey.
A resolution stated that food prepared from transgenic products must contain this information on its label, whether or not there is proof that the products are harmful to health.
Estate planning involves numbers,legal instruments and tax awareness,but the fact is that it also involves people.It is not always as simple as saying okay,I have five heirs,they all get a fifth of the estate and they can use it as they say fit.
Background: Construction service is one of the activities in the field of economy, social and culture which has important role in the achievement of various objectives to support the realization of the national development goals. Therefore, the implementation of construction services needs to be regulated to carry out the orderly of the construction work.
We have a tendency to treat death as though it is some sort of taboo subject,but the fact is that it is as natural as birth and something that we will all face at some point.
Healthcare directives allow you to remain in control of your health care decisions.They are an essential part of your estate plan.Below are the legal documents that comprise healthcare directives.
Estate planning is a legal process that allows you to prepare for the future.It is important to take advantage of this planning so that you are able to outline your wishes and have a plan in place for the unexpected
“A general overview on Oil Market Law in Turkey” by Att. Arzu Ongur Ergan
Are you wondering why to become a franchisee? Are you stuck not knowing whether you would make a better business owner or franchisee? Deciding to become a business owner is just one of the many decisions that have to be made when it comes to running a business.
It is important to understand the fact that the initial estate plan that you put in place is probably not going to be appropriate forever. If you were to visit with an estate planning attorney when you are a young adult you may execute advance health care directives, put together a last will, and make sure that you have adequate life insurance coverage.
Franchise relationships sometimes end badly. Depending on your perspective, a bad ending might be the franchisee quitting the system, or the franchisor terminating or refusing to renew the franchise. By this time, one or both sides have a lot invested in the bad relationship, which leads to posturing and threats and sometimes litigation.
All franchise relationships end sometime, usually by the franchisee selling the franchise, dropping out of the franchise system or getting kicked out. In this article, the author briefly summarizes what happens when a franchisee sells, leaves or quits a franchise system, or when the franchisor terminates or refuses to renew the franchise.
Medical and dental offices need special lease provisions. All leases need a little negotiation and revision, but leases for physicians and dentists need a little more. In this article, the author discusses some advanced lease provisions that health care providers frequently need.
Some tenants need special lease provisions, for example, medical practices and businesses in the computer industries. In this article, the author discusses special, advanced lease provisions that tenants frequently need.
One of the things that you must concern yourself with when you are planning your estate is the looming specter of the estate tax. At the present time the estate tax exclusion is $5 million and the rate of the tax is 35%. So you may think that you are not exposed to the estate tax if your estate is worth less than $5 million. However, these parameters are not permanent.
The volume of e-commerce has been constantly expanding in Turkey. The total e-commerce volume of 15,2 million TL recorded in 2010, is expected to expand by 50% in 2011.
By BFD Lawyers
Limited Liability is an often misunderstood concept, especially with regard to small business owners.
Long-term planning is challenging because you have to anticipate future events. Some are personal and unique to you and your family, and others are changes to the collective landscape that we all must deal with. The best way to proceed is to be aware of the current lay of the land with a full understanding of all of your options. Of course this is best achieved with the expert guidance of an experienced estate planning attorney.
If you have a dog, cat or other pet, you know that the unconditional love and affection our pets devote to us improve the quality of our lives in ways nothing else can. Who Will Care For Your Pets? If you have a dog, cat or other pet, you know that the unconditional love and affection our pets devote to us improve the quality of our lives in ways nothing else can. This is why they deserve our respect and dedication even after we pass away or become incapacitated.
Chances are you’ve already heard a lot about the attributes of Living Trusts: avoiding probate and legal quagmires, sometimes lowering estate and/or income taxes and protecting privacy. Yet it’s also important to receive solid estate planning guidance before making final decisions, and to carefully weigh the benefits and potential drawbacks.
Estate planning is an essential part of life and death. In planning for our future and our family’s future, we must take stock of who we are, what our goals are, and how we want our estate distributed. With the easy availability of do-it-yourself Wills and Living Trusts, it can be all too tempting to take care of your estate planning needs yourself, rather than pay, what may seem like high fees, to an estate planning attorney.
The benefit of SBA 504 Loans for Growing Businesses.
Here is a list of reasons why you may want to start your own small business.
If you purchased real estate as part of a business purchase, if you inherited real estate, if you are retired and own properties you want to turn into rental properties, the organizational engineering you do is not just to save on taxes. The cheapest form of insurance you can buy may be the limited liability you gain when you keep your property in a limited liability company (“LLC”) or limited partnership designed to protect you from the liability associated with property.
Increasingly, businesses are including alternative dispute resolution (ADR) clauses in standard business-to-business and consumer contracts, and even businesses without ADR clauses opt for ADR procedures to resolve disputes while keeping court and legal costs to a minimum.
Before you take steps to dissolve your partnership—general, limited, or limited liability—get state and federal income tax advice, and make sure you fully understand the financial ramifications of shutting down your business.
A general partnership forms whenever you associate with at least one other person to run a for-profit business.
S-corporations and C-corporations share many of the same advantages and disadvantages. Probably the single biggest drawback to both forms of corporation in Arizona is the difficulty of proper incorporation. The process is much more complex—and requires much more accountant and attorney involvement—than forming a limited liability company, sole proprietorship, or partnership.
1. Character as Destiny: Sometimes That’s Not Good. - Ralph Waldo Emerson -- who wrote the essays Self Reliance and Compensation, among others -- might have loved my law firm Clients, who tend to be hard-working, self-reliant, persevering and intelligent, just to name a few of their good personality traits. In short, they have “Character.”
The European Commission has faced the challenge of being able to fund a number of policy areas where the EU could be more effective, by acting at EU level, in preparing its proposals for the future budget of the European Union. In its proposal, based on the Europe 2020 Growth Strategy, a new funding potential can be seen attempting to ease the direct impact of the national budgets with the creation of a new Multiannual Financial Framework (MFF).
For some people, the idea of spending money on an estate planning attorney might seem like an unnecessary expense.
Appointment of Board of Directors and Board of Commissioners of the Limited Liability Company - Indonesia
The Law Number 40 of 2007 on Limited Liability Company (“Company Law”) regulates the provisions about one of the most important organs of the limited liability company (“Company”), that is, Board of Directors (“BOD”) and Board of Commissioners (“BOC”).
To create an order in the investment activity, the authorized body needs to set out a line of licensing process before an investor could conduct the investment activity in the territory of Indonesia. Investment Coordinating Board (Badan Koordinasi Penanaman Modal) (“BKPM’) introduced a system, namely Integrated One Door Service (Pelayanan Terpadu Satu Pintu) (“PTSP”) whereby investors can enjoy certain facilities.
Nearly two hundred years ago Benjamin Franklin wrote, “Nothing is certain but death and taxes.” In current times, probate is often the step that occurs between a person’s death and the payment of their remaining taxes. Probate is the legal process supervised by the court system which insures that a deceased person’s estate is properly distributed and all remaining bills are paid.
Many people think that wills are only for the rich. I do not have a lot of property, why should I worry about having a will. Some people just do not like to think about dying and drafting a will seems morbid. If you do not execute a will before you die, you die intestate. Dying intestate means that what property you have will be divided among your remaining relatives by the laws of intestate succession.
With professional special needs planning, you can rest assured that money set aside for a loved one’s care will be protected, as well as not hinder their ability to receive other kinds of assistance.
The estate tax was repealed in 2010 due to a provision that was contained in the Economic Growth and Tax Relief Reconciliation Act of 2001. This was a welcome respite from what many derisively refer to as the “death tax,” but it was scheduled to return in 2011. When the tax was last in effect in 2009, the exclusion was $3.5 million, and the top rate of the tax was 45%.
Estate planning is part of the broader field of elder law, which invariably includes retirement and incapacity planning. All of these things are connected, and to put it bluntly, you can't pass along what you don't have. So the expenses that you incur during the years that precede your death are going to impact your estate quite profoundly unless your wealth is truly extraordinary.
Assisted living is a type of residence for the elderly and disabled that may need assistance with daily living, but don’t necessarily need around the clock care like is available from nursing facilities. When someone lives in an assisted living residence, they have far more privacy and independence that they would have if they were a resident at a nursing facility. Residents of an assisted living facility are free to come and go whenever they choose.
Probate attorneys are a calming and supportive presence, guiding the executor of an estate through the process of estate settlement. When a loved one dies and you’ve been named in a position of responsibility, executor, it can be an overwhelming and stressful time in your life. The probate attorney knows this and will help you.
Due to provisions that are contained in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, the estate rate was reduced from the 55% that had been scheduled down to 35% in 2011 and 2012.
The first priorities when you are engaged in the process of estate planning are usually going to involve inventorying and positioning your assets, but it is important to remember the recipients as well. The inheritances that you will be leaving behind to your loved ones are going to be going to specific individuals who have unique personalities and proclivities.
Traditionally people tend to think about estate planning as the practice of drawing up a last will. They assume that alternate vehicles of asset transfer, such as trusts, are only something that the wealthy should consider. This is really not the case because there are a number of pitfalls involved in using a will as your vehicle of transfer, and they stem from the fact that your estate must pass through the process of probate when you use a will.
If you have a family business that you would like to pass down to the next generation, a Family Limited Partnership may be an estate planning tool to consider.
In the European Commission’s Communication regarding the contribution of the regional policy in the area of smart growth in the Europe 2020 strategy, the central role of European regions in this process is primarily recognized.
When you are in a small business partnership with others you must approach estate planning differently than those who don't have assets tied up in a business.
It is a known fact that cases of "food poisoning" or food-borne illnesses rise in the summer months, mostly due to warmer temperatures, a rise in humidity and the fact that people get together for picnics and barbecues, where washing facilities are not readily available.
Those who are planning for the latter stages of their lives are tasked with the responsibility of trying to make projections with regard to the expenses they can anticipate.
One of the most pressing matters facing lawmakers on Capitol Hill at the present time is the federal budget.
When you are planning for the future there are a number of different components that you must include if you want to be totally prepared for any and all eventualities.
Foreign investors and companies who would like to set up a 100% foreign owned company in Thailand may resort to establishing a Thai representative office with reference to its main office elsewhere outside Thailand.
The Anti-Monopoly Law (“AML”) opens a new landscape for merger and acquisition practice in China. Regardless where a merger takes place, if the transaction satisfies the prescribed conditions, it must be filed with China's Ministry of Commerce (“MOFCOM”), the agency charged with enforcing the merger control laws in China, for business concentration review.
California Whistleblower Qui Tam False Claims Act Lawsuits for Treble Damages on Government Contracts
The California and Federal Laws on False Claims on Government Contracts and Public Works Contracts create the risk of Liability for Treble damages, Civil Penalties and disbarment in WhistleBlower Qui Tam Lawsuits for all government contractors which could effectively wipe out any possible profits on public contracts.
One of the primary reasons why it is advisable to retain the services of an estate planning attorney when you're planning for the future is the fact that every situation is unique. Though there are websites that would tell you otherwise as they to try to sell "one-size-fits-all" template documents, the best course of action is going to vary on a case-by-case basis.
Many people equate estate planning with the creation of a last will. While it is true that the last will is the most widely used estate planning vehicle it is not always the best one. The primary reason why alternatives are often suggested is because of the fact that your estate must pass through probate when you use a last will as your vehicle of asset transfer. Many people choose to avoid probate, and there are a few good reasons for doing so.
One of the challenges that you face when you are planning your estate is the fact that its distribution will be your final act of giving. You will no longer be there when your loved ones need assistance, so this final act of giving is a profound one indeed. Of course some of your family members will usually need the help more than others, but none of them will be more dependent than the four-legged variety.
Estate planning is a legal matter that differs a great deal from some of the other issues that you may have encountered that required legal advice on a couple of different levels. For one thing, estate planning involves some very sensitive and highly personal information. Of course there is the financial side of things, and revealing all of your financial data to another person is always going to require a certain level of trust.
It is often said that you should use the correct tool for the job at hand, and in a very real sense the difference between amateurs and professionals has everything to do with utilizing the right tools.
Planning for the latter portion of your life has its ups and downs. When you are immersed in your working years and find yourself looking forward to an active retirement it can actually be fun to map out a financial strategy that will culminate in the ability to enjoy your golden years to the utmost. And though it certainly couldn't be described as “fun,” most people are aware of the fact that they must engage in estate planning as well.
The M&A market in Belarus is in the making at present. However, in recent years the M&A activity has become more intense in such areas as banking, telecommunication, insurance and other sectors, mainly due to the heightened interest in Belarusian economy and constant liberalization of business regulations.
In the liberalization of the economy is actively conducted and actions for improvement of investment climate are carried out. In spite of the fact that the Republic of Belarus has worsened its positions in Doing business rating that was made by the World Bank in 2010 in comparison with the previous year and has taken only the 68th place among 183 countries, positive tendencies in the legislation regarding improvement of all indicators are observed.
Recently, M&A activity in the Republic of Belarus has been increasing. Despite the fact that in comparison with other member-states of the Commonwealth of Independent States (CIS), the scope of M&A transaction in the Republic of Belarus is much lower, rates of growth of M&A market in Belarus have almost doubled as compared with 2009.
In the course of business activity companies often face the necessity of transfer of Internet websites. The difficulty of this transfer is that a website in the Republic of Belarus is not considered as an object of intellectual property in contrast to Russian Federation. However, other objects of intellectual property can be used on a website (for example, website design, data base, trademarks and others).
In this article, the author discusses how a non-licensed person can work with a professional practice, including the use of an administrative/management service company.
For small business owners, estate planning needs to be a big deal.
Many people have heard of filing a Will Contest,but many people are not aware that Trusts may also be contested,modified,or even terminated.
In establishing a Limited Liability Company (the “Company”), the Company shall have deed of establishment to obtain the status of legal entity from the Minister of Law and Human Rights (“Minister”).
In the limited liability company (“Company”), capital is the primary factor which allows the Company to conduct their business activities. The Law number 40 of 2007 on Limited Liability Companies (“Company Law”) has set out the provision on the company capital.
Practically, in Indonesia, Limited Liability Company is the most common form of business entities. Therefore, it is necessary to arrange laws and regulations concerning the Limited Liability Company as set out in Law Number 1 of 1995 on Limited Liability Company (“Law 1/1995”), which has been replaced in 2007 because it was no longer suitable for the developing economy in the Republic of Indonesia.
Based on Article 8 paragraph (1) of Law Number 40 of 2007 on Limited Liability Company (“Company Law”), it is stated that a deed of establishment must contain the articles of association (“AoA”) and other information in relation to the establishment of the Company. AoA is the document that contains the internal regulations and the management of the Company.
According to the Regulation issued by State Minister for Public Works Number 28/PRT/M/2006 Year 2006 (“Minister Regulation”), it is allowed for the representative of foreign construction legal entities (“Foreign Entities”) to conduct their business in Indonesia after fulfilling some requirements.
A foreign company wishing to establish a business in the Democratic Republic of Congo has an option between registering as an external company and forming a subsidiary in Congo. The choice between the one and the other hinges mainly on issues of convenience, privacy and tax. Sometimes, the issue of risk, or rather the limitation of risk, also comes into play. The decision at the end of the day is really a commercial one.
By Amaris Law
With the promulgation of the Regulation on Travel Agencies as of February 20, 2009 (“Regulation”), China has opened its doors to the foreign investors in the tourism business. However, the door of outbound tourism business is still firmly closed to the foreign investors. This Article will discuss the way to promote outbound tourism by setting up foreign invested travel consulting company in China.
A lot of contract disputes could be prevented with a little bit of planning during the contract formation stages. Many individuals and small companies incorrectly assume that it was their lack of expertise that led to a problematic contract.
During the ongoing crisis, the private and public sectors are under attack, often unable to react to the destructive power of evolution. Trade transactions are hit by uncertainty due to the ongoing liquidity constraints.
On 4 May 2011, China’s Ministry of Commerce (“MOFCOM”) published draft Administrative Measures Concerning Capital Contribution with Equity in relation to Foreign-invested Enterprises for public comments (“Measures”).
It is no secret that there are some rather arcane terms tossed around in the legal profession, giving rise to the notion of "legalese." Estate planning has its share of somewhat confusing terminology, and this is in part because of the fact that there are a number of variations of the same basic legal instruments commonly utilized.
When you are planning for the latter stages of your life it is important to recognize the substantial costs associated with long-term care. Each year the MetLife Mature Market Institute releases a detailed survey that places long-term care under the microscope, and the 2010 figures are sobering to many observers.
The provisions contained within the tax relief bill that was passed through Congress and signed into law around the middle of December of last year are scheduled to expire at the end of 2012. If no new laws are passed to change the status quo, the estate tax exclusion will return to $1 million in 2013, and the tax will carry a 55% maximum rate.
When you're in the earlier stages of estate planning you are probably preparing in a rather general way for something that seems like it is a long way off. This is a good idea because it is important to have at least a rudimentary estate plan in place from a young age.
We heard a lot about the legislation that was passed in the middle of December that is now being called the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as we were ushering in the new year. As a result of this action the Bush era tax cuts were extended and the Social Security payroll tax was reduced by nearly a third for 2011. As has been widely reported there were also some changes that affect the estate tax.
Throughout your life you pay so many taxes you actually become desensitized to just how comprehensively you're being taxed at every turn. From the start you're left holding perhaps four dollars out of every ten that you earned after paying income taxes.
When you're making plans for the latter stages of your life there is more than one facet to consider. Of course the financial considerations are a large part of the exercise, but there is a health-care component to keep in mind as well. People are living to extremely advanced ages these days, and the older you get the more likely it is that you will go through a period of incapacity before you pass away.
One of the most amazing demographic realities of our time is the rapid aging of the United States population. The baby boomer generation is reaching retirement age, and as a result senior citizens are the fastest growing age group. This is more than just a statistical oddity that is interesting to mention. It also has practical implications that are very relevant to anyone who is engaged in retirement planning.
Doing things for yourself that are otherwise done by professionals can be a way to save yourself some money, and some people actually enjoy these DIY projects a great deal. If you confine your efforts to a certain milieu you can actually make a hobby of it, and many people do, obtaining all the right tools or equipment over time.
The recently passed Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that brought the estate tax rate down to 35% has been a hot topic of late. In case you are unaware of the back story, the rate of the tax was scheduled to revert to the 55% that was in effect in 2001 upon the “sunset” of the Bush era tax cuts at the beginning of 2011. The tax was repealed for 2010, but from 2007 to 2009 the rate of the tax was 45%.
When you are making out your mortgage check each month the thought may cross your mind that it would be nice to be in the position of the lender, receiving the checks rather than sending them. These days there is a loan product on the market that can make this daydream a reality: the reverse mortgage.
Probate is the legal process of estate administration, and when you start to take an interest in estate planning you will see frequent mention of probate avoidance strategies. We have covered some of them in this space and there are some valid reasons to look for ways to avoid probate.
Being in a position to bequeath a large sum of money and/or property and other assets to your heirs can be very satisfying, providing you with the peace of mind that comes with knowing that they will be provided for financially when you are no longer going to be there for them.