Business and Industry Law Articles

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




Business Environment in the Republic of Belarus: Review of Tobacco Industry

Law Firm Glimstedt presents the overview of tobacco industry in Belarus. The article covers the following matters: current business trends and opportunities, restrictions and advertisement, prices and taxations, production and import requirements.

Estate Tax Changes Loom Over Horizon

One of the things that you have to keep in mind when you are serious about crafting your legacy is the fact that updates to your estate plan are probably going to be necessary.

Choosing the Right Charity

Giving to charity is something that is personally rewarding, but it can also have value from a tax perspective.

QPRT For Tax Savings

If you are like a lot of people when you inventory your assets you may find that your home is the most valuable thing that you own.

2013 to Bring Changes to Estate Tax

They say that the only constant is change, and some of these changes are for the better while some of them are for the worse.

Recent Development of China’s Merger Control: A Review on the Penelope/Savio and GE/CSCLC Cases

China launched formally a comprehensive business concentration control regime on 1 August 2008 when its Anti Monopoly Law (“AML”) entered into effect.

How to Register a Trademark in Egypt

Registering a trademark in Egypt shall be carried out in accordance with the Intellectual Property Law No. 82/2002. Registering a trademark is not mandatory to use it in Egypt. However, it is preferable that the trademark's owner have his trademark registered. Said registration shall grant the owner of the trademark the exclusive right to use and license his trademark, prevent the other form registering same and take the legal procedures against any infringement of said trademark.

Restricted Securities 101

The Securities Act of 1933, as amended (the “Securities Act”) requires that the sale of a security be registered under the Securities Act, unless the security or transaction qualifies for an exemption from registration.

Private Placements 101

Regulation D, Rule 506 Offerings - To offer and sell securities in the United States, an issuer must comply with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), or must offer and sell the securities pursuant to an exemption from the registration statement requirements.

Investor Relations 101

Investor relations involve the dissemination of information regarding a publicly traded company to create awareness of the public company and its business and to increase its stock price. The person who provides the investor relations services is known as a “Stock Promoter”. Stock promoters have used illegal practices and are often the subject of enforcement actions by the Securities and Exchange Commission (the “Commission”) is the stock promoter.

FINRA Rule 6490

FINRA Rule, 6490, recently enacted in September 2010, requires issuers of equities and debt securities not listed on exchanges to provide timely notice to FINRA of certain corporate actions. These corporate actions include name changes, forward stock splits, reverse stock splits, distributions of cash or securities such as dividends, stock splits and other actions, and rights and subscription offerings.

New Listing Standards for Reverse Merger Issuers

On July 9, 2011, the Securities and Exchange Commission (“SEC”) approved rules to increase the standards for companies going public through a reverse merger to list on the New York Stock Exchange (“NYSE”), American Stock Exchange (“AMEX”) and the NASDAQ Stock Market (“NASDAQ”).

Regulation A

Regulation A was created under Section 3(b) of the Securities Act of 1933 (the “Securities Act”) to exempt public offerings not exceeding $5 million in any 12-month period by non-reporting companies, without restrictions on the types of investors that can take part in the offering. By: Brenda Lee Hamilton, Attorney Hamilton & Associates Law Group

How Do Powers of Attorney End?

You have the right to give other people the authority to make decisions on your behalf by creating a power of attorney.

Asset Protection Planning Tips

Asset protection is often coupled with thoughts of high-powered attorneys and other executives poring over your financial documents in order to reach one common goal – protecting your estate to include your assets and properties. However, it doesn’t have to be that complicated or that expensive.

Arbitration, Mediation and Conciliation

Advantages of Alternative Methods of Settling Disputes - Ability to quickly design conflict arbitration agreements or by inserting arbitration clause in commercial contracts between parties either separately or compromise before the arbitration court.

Life Insurance in Estate Planning

Life insurance is a key component to the estate planning process. Gone are the days when life insurance was primarily thought of as a means to pay for funeral expenses and burials.

Davis Family Will Retain Ownership of Raiders

There are few if any National Football League franchise owners who had the type of long-term success that Al Davis was able to achieve.

3.6% COLA for Social Security Recipients

People on Social Security will be receiving a cost-of-living adjustment for the first time since 2009 when 2012 rolls around.

Does My Revocable Living Trust Avoid Ancillary Probate?

If fully funded, your revocable living trust avoids both probate, in your state of residence when you die, and ancillary probate, in any other state where you own property. If you don’t fund your trust, it will NOT avoid probate anywhere.

Executing and Terminating Employment Contracts in Turkey

As Turkey maintains economic stability and growth for almost five years, the confidence of the foreign investors raised and new direct investments are executed more often. In this context employee related issues are of consideration to foreign investors and significance of the Turkish Labor Code ('TLC') elevate accordingly.

Meeting and Resolution Quorums for Joint Stock and Limited liable Companies

Joint Stock and Limited Liable Companies are two most common company types in Turkish practice. Therefore we will substantially proceed with meeting and resolution quorums of these company types after brief general information is provided.

Regulation Regarding Acquisition of Immovable Properties by Companies With Foreign Investment

Purpose, Scope, Basis and Definitions

Liaison Offices

A)Incorporation of a Liaison Office in Turkey - I. The new legislation concerning foreign investment in Turkey includes a clause stating that a liaison office is not allowed to conduct "commercial activities". There is no precise definition of what exactly is referred to by "commercial activities".

Content and Functionality of Signature Circulars in Practice and Under Turkish Law

Signature Circular is an official document signed before the Notary in which signature powers of the Company and its branches are determined and the limitations of such powers are detailed.

Incorporation of a Joint Stock Company by Way of Conversion from a Limited Liable Company

You may find the brief memorandum below which explains the legal status of incorporating a joint stock company by way of conversion from a limited liable company in the system of the Turkish Commercial Code (“the TCC”) and the procedure if such conversion is to be resolved.

Petroleum Market Law and Its Implementations

Petroleum Market Law numbered 5015 has been enacted at December 4, 2003, within the efforts performed to institutionalize the market economy and improve the competitive environment in order to update the current legal regulations in the petroleum and petroleum product industry and regulate the markets.

Termination of an Employment Contract with Just Cause

The employee is entitled to terminate the contract, whether for a definite or an indefinite period, within the presence of serious and important reasons determined in the Labor Law numbered 4857 (“the Law”), in the following cases and such reasons are classified in three groups.

Amendments to the Incorporation Terms of Real Estate Investment Companies

Communiqué on the Amendment to the Communiqué on Principles regarding Real Estate Investment Companies (Serial: VI, No: 26) (“Amendment Communiqué”) has been published in the Official Gazette on December 31, 2009 entered into force on the same date.

Duties, Authorizations and Obligations of the Board of Directors of Joint Stock Companies

Board of Directors of Joint Stock Companies is the body which manages and represents the company in the structure of joint stock company. In this regard, the BoD is liable to determine the company organization, to appoint the authorized individuals that manages and represents the company and to supervise them.

Breakthroughs Introduced with the Draft Version of the Turkish Commercial Code – Volume I

The draft version of the Turkish Commercial Code (“the Draft”) removed the current determination of progressive incorporation that is not applied. In addition, it is possible by the Draft for joint stock (“JSC”) and limited liable (“LLC”) companies to be incorporated by one shareholder and one partner.

Breakthroughs Introduced with the Draft Version of the Turkish Commercial Code – Volume II

The Draft Version of the Turkish Commercial Code includes seventy articles for the determination of mergers, spin-offs and conversions and such articles involve full protection of the shareholders, partners and other relevant parties. Merger and Spin-off types are acknowledged.

Work Permit, Work Visa and Residence Permit for Foreign National Citizens

Foreign national citizens are obliged to be granted work permit by the General Directorate of Foreign Capital in order to perform work inside the borders of Turkey. The application to the General Directorate of Foreign Capital is submitted by the Employer.

Characteristics of Key Legal Entities in Cyprus

There are three primary established business media in Cyprus: companies; partnerships and sole traders. Sole traders tend to represent smaller operational concerns and therefore, as a business takes off, many promoters of the business will primarily be concerned with considering the characteristics and applicable benefits of a company or a partnership.

European Parliament Calls for Gaming and Betting Law at EU Level

A recent vote take by the European Parliament (EP) resulted in a report causing a shift towards a more commonly adopted approach to issues arising from online gambling.

How a Revocable Living Trust Can Minimize Federal Estate Taxes

We all want to pay the least amount of tax dollars possible; a revocable living trust may be able to help minimize federal estate taxes.

17 Things You Need to Know about Your Estate Plan

There’s lots to know about your estate plan; that’s why it’s important to work with a qualified estate planning attorney.

Who Should I Choose as My Health Care Agents?

Your health care agents make health care decisions on your behalf if you are unable to provide informed consent at the time and have not already done so.

No More Business Complications Now

Corporate law attorneys are required in a number of aspects of a business and business affairs. Legal orders may sometimes require you to necessarily incorporate a new company to make sure that the correct paperwork is filed with adequate governmental requirements.

The Impact of the New Turkish Commercial Code on Joint Stock Companies and Limited Liability Companies

The new Turkish Commercial Code (NTCC) No. 6102 will enter into force on July 01, 2012. The ultimate purpose of the legislator is to modernize Turkish Commercial Law by adopting parallel provisions to the ones being used in the EU. In this respect, it provides a more practical procedure for establishment, includes various requirements to increase transparency, obliges companies to use generally accepted accounting standards and requires them to use information technology tools.

The Basics of a Financial Power of Attorney

A power of attorney is the next best thing to a magic wand.

Seniors on Social Security to Get Boost

One of the reasons why retirement planning attorneys always emphasize how important it is to make preparations for the future is because they understand the fallout that results from a lack of long-term planning.

Cuts by “Super Committee” Could Impact Elder Americans

Most people are well aware of the fact that the subject that is consuming the lawmakers in Washington is the federal debt.

4 Revocable Living Trust Key Players

The revocable living trust is a commonly used estate planning tool; it is often the center of an estate plan and has many benefits.

Start Estate Planning Early

It might surprise you, but the ideal time to start estate planning is the minute you turn 18 years of age and can sign legal documents. Start estate planning early, because it can become too late.

Who Needs to Plan for the Federal Estate Tax?

In 2011 and 2012, your estate will pay up 35% of any assets that go over your federal tax exemption amount.

Tax Act Expiration May Impact Your Estate Plan

You have to keep abreast of the ever-changing tax laws if you want to be prepared every step of the way as you are crafting your legacy over the years.

Probate Avoidance: Is it Right for You?

Hollywood’s depiction of Estate Administration leaves the impression that a last will is something that is read by an attorney and then the assets are handed out to the family members after a relative passes away. In reality, when you use a last will to express your final wishes your estate is going to have to pass through a process called probate.

Is a Mistake Strong Enough to Cancel a Contract According to Ethiopian Law?

If you want to know if a mistake in a contract can be strong enough to cancel it according to Ethiopian law you might want to read this.

Organ Donation

Advance medical directives are an essential part of an estate plan, but where and when do you express your wishes regarding organ donation?

Areas of Investment Provided by the Ethiopian Investment Laws for Domestic and Foreign Investors

Do you want to know about areas of investment permitted for investment according to Ethiopian law? Below you will find these areas of investment divided by sector of investment.

Tax Laws in Ethiopia

Brief note on the various tax laws of Ethiopia. In Ethiopia there are two types of tax. These are direct and indirect tax.

Ethiopian Trade Practice and Consumer Protection Laws

Brief note on Ethiopian Trade Practice and Consumer Protection Laws

Retirement Pitfalls

Retirement planning in any economy is a challenge, and people can make mistakes if they choose to go it alone. We discuss five common errors that are made by many in retirement planning.

Rights and Obligations of Employees and Employers as Per the Labor Law of Ethiopia

Brief note on the Rights and Obligations of Employees and Employers as Per the Labor Law of Ethiopia

Medicaid Planning Terms

Medicaid is a joint federal and state, need-based program that is often needed by senior citizens to pay for the catastrophic costs of nursing home expenses.

Reasons for Special Needs Trust

A special needs trust is an estate planning tool used to allow assets to be held in trust for the benefit of a physically or mentally challenged individual, or a person with a chronic or acquired illness. We outline four reasons to consider creating a special needs trust.

FAQ of 401K and Estate Plans

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.

Shareholder Agreements in Russia: Preliminary Results

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.

Do Your Estate Planning Early

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.

You Need These 4 Documents to Prepare for Incapacity

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.

Cyprus: An Advantageous Venue for Incorporation

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.

Considerations When Creating a Company in Cyprus

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.

Limitations on Marriage in Thailand

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.

Succession: Structured Solutions for Estate Planning

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.

Transfer of Technology under Egyptian Law

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.

Estate Planning Is Ignored by Majority

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.

Talk of Medicaid Cuts - A Source of Concern for Many Seniors

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.

Minority Shareholders Oppression in Cyprus companies and available remedies

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.

Be Cautious Before Entering Canadian Franchisee Market!

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.

Termination of Employment Contracts and Collective Dismissals as a Result of Mergers in Turkey

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.

On Social Security? Expect 3.6% COLA

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.

Oakland Raiders Will Remain in Al Davis' Family

Al Davis was an enigmatic figure who was loved by most in the “Raider Nation” but was sometimes criticized by outsiders.

Headquarters and Branch Concept for a Business Organization

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).

Branch Offices

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.

The Two Most Common Company Types; JSC and LLC

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.

Types of Shares and Share Transfers

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.

Keep Long-Term Care Costs in Mind

Unfortunately too many people don't take retirement planning seriously enough, and as a result a significant percentage of Americans are not prepared.

DIY Estate Planning Not Advised

We live during a time when everyday people can find information on just about any subject with the click of the mouse.

What Happens to My Life Insurance Policy After I Die?

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.

The Charitable Remainder Unitrust or CRUT

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.

Have Patience After Losing a Loved One

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.

How to Start a Small Business: The Basics

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.

Assisting with Long Term Care? Is a Caregiver Contract Right for You?

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.

What if I Don’t Want to Serve as Guardian?

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.

Will: Did You Know?

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.

DIY Estate Planning Kits and Software

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.

Regulatory Compliance for a Medical Practice

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.

The Corporate Filing Scam, plus a Few More Good Ones

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 for Your Estate

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.

Estate Planning Ignored By Many

People live busy lives and we are constantly being inundated with new challenges on a day-to-day basis.

Interim Rules on Implementation of a Security Review System Regarding M&A Transactions - China

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.

An Atlanta Criminal Lawyer Explains Search and Seizure

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.

Turkey's 2011 Privatization Plans

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.

Work Permit in Jordan

Procedures for getting a work permit in Jordan.

How To Avoid Will Challenges

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.

Are Baby Boomers Financially Prepared for Retirement?

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.

CRUT Can Be a Useful Part of Your Estate Plan

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.

Should Henry Update His Financial Power of Attorney?

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?


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