Business and Industry Law Articles
Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Business and Industry.
Most entrepreneurs feel overwhelmed by all of the decisions that they must make when starting a new business.
If a trade union breaches its duty not to engage in industrial action as stipulated in a collective agreement, it renders itself liable to pay damages vis-à-vis its contractual partner. This follows from a recent ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court.
The term FIDIC stands for the International Federation of Consulting Engineers, FIDIC was established in 1913, headquartered in Genève, and is aimed at finding a resolution in construction sector. The first edition of the conditions of the contract for works of Civil Engineering Construction was published in August 1957.
It is a common misconception that oral contracts are not enforceable. It is true that certain agreements must be in writing to be enforceable.
There are 6 types of companies/business entities that can be registered in Ghana. Helpful for a start-up or large multinationals alike to chose the entity that suits their business operations in Ghana.
In simple language, the processes and players involved in registering a company in Ghana are helpful for start-ups and large multinationals alike intending to start a business in Ghana.
How to Establish and Incorporate a Limited Liability Company in Romania Using a Corporate Lawyer in Bucharest
What seems to be relevant in the present article is the current legislation in Romania which allows any private or corporate entities to incorporate a limited liability company in Romania. In this regard, the article proposes to give an overview of the legal steps in order to incorporate a limited liability company in Romania by a corporate lawyer in Bucharest.
KYC or know your client seems to be a mantra repeated by many institutions these days, whether is it from banks of financial authorities the mantra KYC is repeated.
The Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, has ruled that if a company redeems competitor’s discount vouchers this is generally not considered to be unfair and does not constitute a violation of competition law (Az.: I ZR 137/15).
“Unverzüglich” Is an Acceptable Deadline for Taking Remedial Action for Defective Products in Germany
If a purchased item is defective, the buyer can demand that subsequent remedial action be taken. According to a recent ruling of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, “unverzüglich” (immediately) is an acceptable deadline in relation to this remedial work.
The inheritance tax reforms have still yet to be finalized. With the Bundesrat, the upper house of the German parliament, having blocked the draft legislation on July 8, no further decision is expected to be taken before the autumn.
There are few endeavors more exciting and captivating than owning a restaurant. But don’t let the allure of being a restaurateur distract you from the risks and challenges that come with acquiring any business.
The employment landscape has changed over the last few years and many small and mid-size companies today operate with outside help – contractors or freelancers who perform important tasks but who are not full time employees on your payroll, or even third party companies who consult on a new product or service.
In a step to further ease and quicken the pace of incorporation of a company in India, The Ministry of Corporate Affairs amended the Companies Incorporation Rules by enacting the Companies (Incorporation) Fourth Amendment Rules, 2016 and released a simplified form for the incorporation of a company named Simplified Proforma for Incorporating Company Electronically (SPICe)otherwise known as Form INC-32.
Our team has worked with numerous attorneys over the years, and by far the most common goals have been generating more leads, which convert to clients, and more time, so attorneys can focus on growing their practices. By implementing these 3 types legal videos for your firm, you can do just that.
Anyone who includes false statements in their application documents risks having their employment contract terminated with immediate effect.
The Necessity and Some Problematic Aspects of the Choice of Law Clauses for International Transactions
In their day by day practice business entities very often conclude transactions that have cross border nature for example a company may conclude a contract with the entities from deferent country and even from different legal system. In this context, the important issue that need to be considered is which law would be applicable to the contract concluded between such entities.
By KM Legal Net
Franchise can be a wonderful approach to achieving success in life, as for many people owning a franchise can be a less risky alternative to a standard corporate job. Surely, the empowerment this strategy represents and the reliance on a consolidated brand can be an attractive opportunity, but it is important to carefully consider the terms of the agreement you sign when becoming a franchisee.
Panama has a Corporations Act, which facilitates business and investment, so it is recommended to entrepreneurs take advantage offered by this type of society, when starting your business.
The court system in Romania is still to many a confusing impenetrable system. In the past the rules and regulations seem to have a mind of their own which only the judges and a few practioners seem to fully understand. Fortunately, with a more up to date approach and exposure of the legal system to the EU rules this is no longer the case which it
According to a ruling of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, from July 12, it is possible to effectively withdraw from loan agreements featuring the wording that the withdrawal period shall commence “frühestens mit dem Erhalt dieser Belehrung” [at the earliest upon receipt of this guidance] (Az.: XI ZR 564/15).
Proper written form should always be observed when it comes to commercial tenancy and lease agreements. Oral agreements may not be effective in cases where there is doubt, as demonstrated by a recent ruling of the Oberlandesgericht (OLG) Dresden [Higher Regional Court of Dresden].
The lack of a manufacturer’s warranty when purchasing a used vehicle may represent a material defect that justifies the buyer rescinding the purchase agreement. That was the verdict of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice.
When organizing and planning a business in Florida, you have the option of many entities, each of which have their advantages and disadvantages. General partnership is one of those type of entities the owners of a business can form to conduct their business operation.
With its stellar growth, Dubai has been known for alluring every business opportunists due its efficient licensing rules, infrastructure, and ease of work. In a survey "the World Bank's Ease of Doing Business Survey for 2014," the Emirate has been indicated as the easiest places to do business. If you're an expat and looking to begin a new business, you need to be informed about the business law and regulations.
Many UK nationals have purchased in Bulgaria an apartment, a house with land or simply a piece of land in the mountains or near the seaside to build on it or just as an investment. Such properties have been acquired either personally by the investors or through an investor´s owned Bulgarian entity that represented a vehicle to overcome the legal restrictions applicable at that time for the acquisition of land in Bulgaria.
The managing director is responsible for ensuring proper payment of social security contributions. If these are not paid, he could potentially be personally liable for this.
Claims arising from a D&O (Directors & Officers) insurance policy can be ceded to the employer. That was the verdict of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, in its ruling of April 13, 2016 (Az.: IV ZR 304/13).
Infringements of competition law or antitrust law can prove to be costly for businesses. That much is clear from the annual report for 2015 that was recently published by the Bundeskartellamt, Germany’s Federal Cartel Office.
Contracts often become the centre of commercial disputes. The five necessary key components of a legally enforceable contract are offer, acceptance, consideration, intention to create legal relations and certainty of terms. If any one of these are absent, or disputable then it may mean that a legally enforceable contract was never created.
Decree Law 5 of 1997 included several improvements for the redomiciliation and powers of attorney for corporations which are still useful today
Saudi Arabia’s economy showed an impressive performance in the retail sector as per survey of 2015. Saudi Arabia’s retail sector is the largest in Gulf Cooperation Council (GCC), representing 42% of the council’s market size, followed by the UAE (29%) and Qatar (11%).
To conduct a business activity in Armenia registration of a company, basically of an LLC is required. The expediency of a business activity, by means of a LLC registration, is firstly conditioned by the legislative opportunity of incurring limited liability. The founder of a company, as compared to the registration of a PE, does not put his/her property at a risk in the case of suffering losses.
Having one of the lowest corporate tax rates in Europe and a wide network of double tax treaties, Cyprus is a very attractive and established jurisdiction for registering companies. The country is well known for the high standard of service providers such as law firms and accountants. English is widely spoken and the country has a pro-business environment and investor-friendly mentality. This article examines the advantages and process of setting up a company in Cyprus.
Big rewards can be reaped by owning investment properties, but so too can big risks. One common threat real estate investors wish to avoid is personal liability for judgments resulting from a lawsuit.
It is important to bear in mind when removing a managing director from his post for good cause that an employment relationship exists as well. These two legal relationships ought to be considered separately.
The franchise contract in Spain has no specific regulations, although there are some pre-contractual duties that the franchiser must fulfil in order to give greater protection to the franchisee, which is always considered the weaker party.
Nearly every discussion on the status of the Tel Aviv Stock Exchange (TASE) questions whether Israel’s corporate governance rules have contributed to the downtrend in the number of companies listing on it.
“In this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin strikes again. However, in the world of high tech and Israeli tax there has been some uncertainty as to whether entrepreneurs, whose shares are subject to a reverse vesting mechanism or a holdback upon their sale, should be paying income or capital gains tax.
By failing to prepare, you are preparing to fail.” Wise words from Benjamin Franklin. From day one most Israeli entrepreneurs are already looking for their exit. Unfortunately they are not always prepared and preparation is the key.
It is possible to believe the innovations of the Sharing Economy are due to a collective and empowering business model that places the emphasis on the individual and that this is a revolutionary outgrowth of information accessibility. However, one would be dismissing the very economic fundamentals that are the foundation for future growth and prosperity of the larger global economy.
Do you have an idea for a business and want to get started on the right track? Do you want to reduce your personal liability exposure from the business’ liability? Do you want to go into business alone or with others, and properly differentiate each other responsibilities and obligations? If so, you may want to consider setting up a limited liability company or commonly referred as “LLC”.
Investing in a franchise is attractive for many people seeking to own their own business since you are purchasing a proven business model and get assistance from the franchisor in marketing and other important business operations.
By KM Legal Net
Doing Business in Italy - It should be noted that there are subtle differences compared to other countries and it is important that these are understood before deciding to set-up a company in Italy.
The favourable environment is contributing to the increasing significance of M&A transactions among German businesses again, with mergers and acquisitions supposed to be a way for companies to strengthen their market position.
One important issue when establishing a company is choosing the appropriate legal form.
Changes to the legislation of Ukraine for small and medium-sized businesses.Recent projects of changes in legislation concern primarily small and medium business, as this business actively uses organizational and legal forms of business such as limited liability company (more than 95% business associations have just such legal form) and company with an additional liability.
On 24 March 2016, the PRC Ministry of Finance (“MOF”) and the State Administration of Taxation (“SAT”) jointly released the Notice on the Comprehensive Roll-out of the Business Tax (“BT”) to Value Added Tax (“VAT”) Transformation Pilot Programme (Circular Caishui  Number 36) ("Circular").
The first question international clients usually ask lawyers in Romania is how long will it take to incorporate a company. For an experienced law firm, that should be an easy question to answer, but like most things in the current business world, the answer is not as simple as the question would lead you to believe.
It is often the case that a purchaser of a business does not have the resources for a full cash sale and will request that the seller finance some of the purchase price. This can be advantageous for both parties, but requires that the parties consider a number of issues, as we highlight in this article.
One type of entity people sometimes ask us about is the California statutory “close corporation.” In general legalese a “close corporation” means a closely held corporation, a corporation that has only a few shareholders, usually people who work for the corporation.
The global fashion industry has emerged in the 21st century as one of the fast-growing and most dynamic economic sectors in the world.
What constitutes insurance “bad faith” in California? What can a policy holder do to hold an insurance company responsible and accountable for the protections of a valid policy? California insurance law is quite complex, and a policy holder should never attempt to interpret or take action against an insurance company without strong legal advice and representation.
Individuals and business interests in San Diego are often denied coverage under valid insurance policies. The first question to be answered is: “Does the coverage in my policy cover the specific circumstances of my claim?” The second question to be answered is: “Is the insurance company acting in good faith with respect to my policy claim?”
Since the beginning of the year, the MS Conny Schifffahrtsgesellschaft mbH & Co. KG (a shipping company) has been the subject of insolvency proceedings (Az.: 504 IN 16/15). The fund vessel MS Cornelia now appears to have been sold.
By MMLC Group
On August 5, 2016, the State Administration of Industry & Commerce (“SAIC”), released a draft of the Regulations on the Implementation of the Law on the Protection of Consumer Rights and Interests (“the Regulations”) for public opinion solicitation. This article reviews the main issues raised.
Typically, most business people do not want to be in a situation where they feel compelled to get out of a contract before the end of the contract term.
The two houses of the Indian Parliament recently passed an historic bill which aims to enact a common goods and services tax (GST) among the federal and the state governments of the Republic of India.
Unauthorized private use of a work computer can justify dismissal without notice. That was the verdict of the Landesarbeitsgericht (LAG) Sachsen-Anhalt [Regional Labour Court of Saxony-Anhalt] in its ruling of May 26, 2016.
In accordance with the Constitution of Ukraine, foreigners and stateless persons who are in Ukraine on legal grounds enjoy the same rights and freedoms and also bear the same duties as citizens of Ukraine.
While the worlds of law and fashion may seem as far apart as one can imagine, legal matters are inseparable from any career or aspirations in the fashion industry. To understand why fashion law is so important, one must start with what it is and why it should matter to you.
The registration process to the prospective founders of a Latvian limited liability company (in Latvian: Sabiedrība ar ierobežotu atbildību or SIA) involves several stages:
If you are selling or leasing your home, you must comply with the Real Estate Transfer Disclosure Law. That law requires that sellers provide the prospective buyer with a Real Estate Transfer Disclosure Statement (“TDS”).
A written contract plays a vital role in any business transaction. Apart from making the agreement between concerned parties legally binding, contracts can also serve as future references, part of the business’ policies, as well serve as proof in the event of misunderstandings, complaints or disputes needing litigation proceedings
In Romania, and perhaps in the rest of Europe, little attention seems to be paid to Data Protection and the implication of the regulations which are passed both at European Union and Romanian National level.
The Internet has become an important business tool for brand promotion. Any company that wants to successfully put its products or services across to the public can’t get around the benefits of the global online market anymore.
Is your foreign company trying to set up a business arrangement in Pakistan?
Contracts are integral to the success and smooth functioning of every industry, and fashion is certainly no exception.
The Bundeskartellamt, Germany’s Federal Cartel Office, has imposed fines totalling 242 million euros due to illegal price-fixing agreements between manufacturers and trading companies.
When it comes to fixed-term employment contracts linked to a specific assignment, employers need to take care and precisely define when the assignment in question has been fulfilled. Temporary employment can otherwise turn into a permanent position.
Corporate re-structuring and M&A occupy a significant share of the corporate finance world. M&A transactions resulting in a formation of a larger entity. Corporate finance deals with the other side of the coin as well and does the opposite by minimizing organizations through spinoffs or tracking stocks.
Efficient compliance management systems (CMS) exist primarily to protect one’s business and are becoming an increasingly crucial factor for many small and medium-sized firms.
In most states, including Florida, it is not required for a Limited Liability Company (“LLC”) to have an Operating Agreement, but it is always recommended to create one. The reasons are several, as we shall see below.
Being an employer in any jurisdiction seems to become more complicated as time goes on. I was recently reminded of this when we were advising an international client of the Firm on employment issues in Romania.
The complexity of procedures for implementing surrogacy requires fixing contractual relationships between the parties and fixing the potential risks for each party.
Anyone who withdraws from a real estate loan concluded between 2002 and 2010 stands to potentially benefit from low interest rates and save a lot of money. Having said that, withdrawal only remains an option until June 21, 2016.
By Planet Depos
Litigation involving foreign witnesses can be challenging. Paralegals will no doubt find that their cases will require the services of both deposition interpreters, also known as legal interpreters, and realtime court reporters who are up to the task.
The most plausible reason of getting an immigration permit is making investments to the Ukraine economy by a foreigner, that is a convertible currency in the amount not less than one hundred (100) thousand USD registered in the proper order
If you are opening a new restaurant in Florida or are the new owner of an existing restaurant, you are required by law to obtain a business license from the Florida Department of Business and Professional Regulation’s Division of Hotels and Restaurants before you can begin operation.
There are many reasons franchisees decide to sell their franchise – life changes like death, divorce or retirement comes to mind – and if you are looking at investing in a resale franchise, you should neither discount nor leap into it without careful investigation.
At the end of March, the Bundeskartellamt, Germany’s Federal Cartel Office, imposed fines amounting to around 21 million euros against the so-called “Sanitär-Kartell” (cartel in the sanitary sector) on account of anti-competitive agreements.
Advertising for pharmaceuticals is impermissible if the content of a promotional statement is not based on sound scientific evidence. That was the verdict of the Oberlandesgericht Koblenz (OLG) [Higher Regional Court of Koblenz].
Having gained experience in providing legal advice to private companies and joint-ventures involving a Thai-based partner, it has become apparent that disputes in business operations tend to arise from the appointment of key management who are not favored by the other business partner.
If a party sues for breach of contract, the onus is on that party to prove the validity of a contract. This party has the duty to show that all of the necessary elements are present. The following elements must be in all valid contracts
Starting and running a small business has never been more challenging. Now more than ever the small business owner has to navigate a patchwork of confusing and oftentimes contradictory laws and regulations that can add extra costs to legal compliance.
The Law of Ukraine "On amendments to some legislative acts of Ukraine on the protection of investors" included a norm of judicial consideration of disputes between business entity and its official by the economic courts to the Economic Code of Ukraine, even after his official powers have been terminated.
Declarations of discontinuance are a possible consequence of violations of competition law. They can be tied to a condition, but for this to happen strict requirements need to be met.
Last fall, the SEC initiated disciplinary proceedings against financial advisor and self-proclaimed “Financial Myth Buster” Dawn Bennett, accusing her of publicly inflating her client assets under management (or “AUM”) and exaggerating her investment returns.
In general : Business entities in Egypt that have been incorporated after the enactment of the Law 8 of 1997 enjoy further guarantees and incentives.
Most investors and companies that wish to incorporate a company in Romania chose to form a limited liability company (SRL). As Romanian lawyers we are often asked to advise on the type of company to be formed. In many cases we agree with the client’s initial instructions as to the form of the company to be incorporated.
Consider: the case of foreign entities marketing their products to Egypt directly without the requirement of business entity incorporation in Egypt but with the help of certain form of representation.
Franchise agreements: In general terms, a franchise agreement is a contract in which one part known as franchiser, allows the use of its intellectual property (Know-how, trademarks, patents, copyrights, etc.) to another person, called the franchisee, with the aim of economically exploit a business or company within a given geographical area.
The long announced plans of Ukraine in relation to massive privatization are being gradually implemented. The importance of privatization is backed by the need, on the one hand, to fulfill the state budget, and, on the other hand, to increase the effectiveness of state enterprises’ management.
The company name is a very important part of the business, because thanks to their names companies can promote their brand in the market, shape the perception of consumers, a name can become a trademark, etc.
In a recent case before the Court of Appeal of Amsterdam, a dismissal of a company’s own application for bankruptcy was upheld in appeal. The Court of Appeal found that the authority of a company to apply for its own bankruptcy had been misused. When is there misuse?
One of the most common business disputes involves a breach of contract, where lawsuits are filed because one party believes another party has failed to deliver on the terms of a written – or sometimes oral – contract.
If you are selling a business then you should ensure that you minimize any ongoing commercial liability by limiting or excluding liability under the corporate warranties or indemnities.
Legal Framework: Post 25th of January, 2011 Revolution Direction following Revolution of 25th of January, 2011, Egypt has been heading towards the future in a slightly different track. Political and economic distress has led to significant changes in the political, economic and legal landscapes.
Business owners place significant faith in the hands of their employees. Unfortunately, sometimes this trust is misplaced and insider employees commit major fraud against the business. Florida companies of all sizes have been seriously damaged by employee business fraud. If you believe that your company has been victimized by an employee, please contact an experienced West Palm Beach business fraud attorney for immediate legal assistance.