Business and Industry Law Articles
Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Business and Industry.
January 4, 2017 By JGPC Business & Corporate Law
When looking for a law firm to represent your business, look for a firm experienced in helping small business owners.
January 4, 2017 By JGPC Business & Corporate Law
By becoming familiar with pros and cons of LLCs, entrepreneurs can better decide whether the LLC business entity is the right choice for their business.
January 4, 2017 By Matt Dickstein, Business Attorney
There are two basic elements to a buy-in: the amount of the buy-in price, and the time over which the price is paid. In this article, I discuss the latter element– buy-in to a medical practice in installments over time. I leave the first element, the amount of the buy-in price, to certified appraisers and the like.
December 29, 2016 By Parris Whittaker, Attorney at Law
Negotiations are a vital part of the process of agreeing the terms of a commercial contract, but when will such discussions have a binding effect on the parties?
December 27, 2016 By The Law Offices of R. Sebastian Gibson
Without a written partnership agreement for a business which two or more people own and operate in California, it may well be deemed to be a general partnership with each of the partners jointly and severally liable for the acts of the others and no mechanism for resolving deadlocks which require a majority vote. Business partners should have a partnership agreement drafted by an experienced partnership attorney and should understand the differences between partnerships and LLCs.
December 27, 2016 By Aleksey Pukha & Partners
From January 2017 the procedure of agreement conclusion will be simplified for services exporters.
Open the Retail and Wholesale Trading Sector in Saudi Arabia for Foreign Entities to be 100% Their Ownership.
The foreign entities in Saudi Arabia are allowed to have 100% ownership in retail and wholesale trading sectors.
In order to avoid disputes later, a band needs a band agreement which states how the band will divide their profits and which provides how decisions shall be made, how departing band members will be paid and the rights to use the band name after a break up or a band member departs. With the advice of a music lawyer, the right business entity can be chosen, and a music attorney in California can be utilized to obtain copyrights, and trademarks for the band name.
The Board of Directors of a CIF shall consist of at least two executive Directors and two independent non-executive Directors. The majority of the Directors shall be Cyprus residents. The independent non-executive Directors shall be persons of reputation and good standing, experienced and well-known in the business community for their skills and abilities, who can themselves, promote the company’s goals.
How well does your current contract management or contract administration process work? Do you know when your contracts expire or if they automatically renew? What are your termination rights if you are no longer satisfied with services or products?
The competitive business environment in which many businesses operate requires them to constantly explore new ways to enhance their competitive advantage over rival businesses. One way of doing this is by imaginatively making use of trademarks to differentiate the products and services they offer to the public from those of competitors in the market.
In Ghana , depending on the type of business you are involved in and there are 6 main business entities you can chose from. The body responsible for business entity registration in Ghana is known as the Registrar General’s Department (RGD).
There are two basic elements for when a new shareholder buys into a business: the amount of the buy-in price, and the time over which the price is paid. This discussion is about the latter element-- buy-in to a business in installments over time.
Owners of small and mid-sized businesses can spend nearly all of their time running their business, and leave little time to plan the strategy for continued growth and transition to a sale or other exit. Owners hope for a healthy selling climate when the times comes – whether when they retire, cash out and slow down, or sell and find a new venture. Yet, lack of preparation for transition to exit can have a negative impact on achieving a high sales price and successful exit.
A legal entity in Bulgaria may be used as a suitable vehicle for different purposes, including for outsourcing business development, for real estate acquisition, for cost saving and planning, for starting of joint ventures and others. The process of setting up a company in Bulgaria is inexpensive. The flat tax rate of 10 %, the relatively low commercial and labour costs and the membership of the country in the European Union makes Bulgaria a strategic business destination.
Alternative dispute resolution (ADR) forms can be quite helpful for business owners who find themselves ensnared in legal disputes and conflicts with customers and/or other businesses. Litigation takes time, and as the old saying goes, “Time is money.”
Money: without sufficient amounts of it, your new business idea is not likely to get very far. When starting a business or project, it is crucial to ensure that you have enough capital to pay for your startup expenses.
International or Foreign Companies are normally interested in establishing companies with limited liability in Jamaica. The Foreign Investors normally elect either to incorporate a Subsidiary Company or to register an Overseas or Branch company in Jamaica.
Trademarks help consumers to make informed decisions about goods and services that they purchase. Selection of branding for a business should include advice from a marketing professional and a trademark search performed by an intellectual property attorney. The trademark search can identify issues that should be promptly addressed and should prepare a business to either avoid a trademark office action or to develop a winning argument in response to the office action.
For the first time since 1983 when the Supreme Court issued its decision in Dirks v. SEC, the Supreme Court yesterday clarified what “personal benefit” the tipper of non-public, inside information must receive from the tippee to sustain a conviction against the tippee who trades on that inside information.
In the course of the reform in the state registration system at 6 October 2016 was adopted the Law of Ukraine «On the Amendments to Certain Legislative Acts of Ukraine regarding the improvement of the official registration of rights to immovable property and protection of property rights» and it came into force almost one month later.
Setting up a representative office in China is an option that is becoming more and more popular for foreign companies that would like a presence in China. Although the services that can be provided by a representative office are rather limited, a representative office can be a very useful vehicle for marketing purposes and building business links.
By Loeb Smith
Cayman Islands holding companies, operating companies, and investment funds structured as companies pay dividends and make other distributions to shareholders and investors all the time, but what are the Cayman Islands’ rules governing the payment of dividends and making of distributions?
A writer who signs a literary agency agreement or a book publishing contract without having it reviewed and negotiated by a literary rights or publishing attorney risks not having any idea how the terms contained in a ten to thirty page publishing contract can harm them. Scams abound in the publishing world and writers need to be aware before they sign a contract that obligates them to pay to have their book published and to purchase their own books.
Before entering into a franchise agreement, it is absolutely essential for prospective franchisees to have the terms reviewed and negotiated by an experienced franchise attorney.
As in the case of a managing director of a German Gesellschaft mit beschränkter Haftung (GmbH) [private limited company], the director of a limited company (ltd.) can also be liable if payments are made after the company becomes insolvent.
In commercial transactions, orders are not always recorded in writing. Negotiations are sometimes done in person, whereupon a client verbally accepts a contractor’s offer. It is possible that it is not clear who is actually the legal principal. This may cause problems, in particular if the client has not paid the invoice.
Whether you are a recent medical school graduate or a seasoned physician preparing for a change in your employment, it is important to know the basics before you sign a new employment contract.
On the way of creating your own business you can face the problem of registration of the company that might seem complicated and confusing.
By taking the right steps by having the right contracts prepared, documenting business dealings, limiting one’s exposure to jurisdiction in other states, understanding contract law, protecting intellectual property, avoiding breaches of fiduciary duty, incorporating to protect assets, and filing suit when necessary and going to mediation to prompt settlements of contract disputes, a business owner in California can save money and headaches and avoid unnecessary litigation.
Artists breaking into the entertainment industry often don’t know whether they need a talent agency, a personal manager or an entertainment lawyer to represent their interests. While a manager can help guide their career and help them find a talent agent, some just use a personal manager, while others utilize a talent agent, a manager, and an attorney. The terms contained in talent agency contracts and artist management contracts, as discussed in this article, are different as are their roles.
The reality: Honeymoon-Rough-Bold Despite all best efforts to maintain the “honeymoon” period, there will come time during the relationship where the franchisee and franchisor may not agree or see things differently; this is the “Rough” period… very likely, such period will evolve to a clear disagreement the “Bold” period which, if not managed properly, it can lead down an emotional and costly path. This is the reality in any relationship.
Poor payment discipline in Bosnia and Herzegovina is a burning problem of a modern society faced by all legal entities, but also individuals. The best prevention is regular checking the credit worthiness of business partners and refusing business with those who have difficulties in paying.
There are many sorts of business disputes where “emergency relief” may be called for. One common example is where trade secrets are stolen, often by employees or former employees. In view of that possibility, it is common for employment agreements to not only require the employees agree not to divulge company trade secrets, but likewise authorize the employer to seek emergency, “injunctive relief” to stop the use of stolen trade secrets.
A franchise agreement is the agreement concluded between a seller “Franchisor” and the buyer “Franchisee” by which the franchisor allows the franchisee to use its trade mark and provides him with the knowhow and the manual book of business (the rules, steps and manuals to run the business), while the franchisor is not liable for the franchisee’s illegal acts or conducts.
Most people do not regularly hire private investigators and seeking out a private investigator and selecting the best investigator can sometimes be a daunting and confusing task.
Companies, countries, and individuals who are interested in doing business abroad are looking more and more towards Israel. This has not occurred by accident. Israel has devised and implemented national policies to make it a world leader in technology and innovation. The result is a nation friendly to business investment. With the right business and legal guidance, investors are discovering tremendous potential in this small but sophisticated country.
Company formation in the Republic of Belarus (in accordance with the new law that came into force in January 2016).
Bangladesh is home to a growing number of foreign companies having adopted a liberal industrial policy by offering the foreign investors various generous opportunities; hence making Bangladesh one of the emerging hubs for foreign investment. Growing at over 6% continuously over the past decade and a huge local consumer base, the economy is an attractive destination for investment in a large array of sectors.
Hong Kong has one of the most expensive housing markets in the world. If you are an owner of a property enjoying an unobstructed sea view, you will naturally be quite unhappy about the loss of sea view caused by an adjacent development. This occurs quite often in the rapid building city of Hong Kong and was what happened to the plaintiff in the case of Yang Dandan v Hong Kong Resort Company Limited ( HKEC 2050).
Inheritance Tax Reforms Becoming an Impasse – Making Arrangements for Business Succession in Germany
The reforms to inheritance tax should have been cut and dried long ago. The Bundesverfassungsgericht (BVerfG), Germany’s Federal Constitutional Court, is now once again exerting pressure because of the failure to reach an agreement on policy.
Self-driving cars will undoubtedly become a widely-acceptable new technology in the near future. But, as with any new technology, mistakes can happen. In this case, dangerous car accidents that could ruin lives are a possibility, even though computerized cars are meant to make driving safer. And the manufacturers of these autonomous cars are pushing for protection from lawsuit through federal preemption. Here's why this could be a serious problem for drivers of autonomous cars.
One of the first decisions a business owner or practicing professional faces is choosing the best business entity for their organization.
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.
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.
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.
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).
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.
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].
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.
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.
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).
Decree Law 5 of 1997 included several improvements for the redomiciliation and powers of attorney for corporations which are still useful today
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.
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.