Business and Industry Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Business and Industry.
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.
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.