Business and Industry Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Business and Industry.
February 2, 2015 By Kydalov & Partners
Nowadays many foreigners plan to establish their own business in other country. It can be very profitable because every country has some advantages in comparison with other countries. For example, agro-industrial and agricultural spheres in Ukraine are developed on a very high level and the profit of having business in such spheres in Ukraine can be much higher than in other countries.
January 30, 2015 By Herdem Attorneys at Law
Turkey has been becoming a “shopping mall heaven” ever since 1988 which is the time that the first shopping mall was built in Turkey.
January 28, 2015 By Youssry Saleh Law Firm
Egypt has enormous mineral wealth, but it does not yet exploit it properly. This is because the participation rate of the wealth in the gross national product, according to the Ministry of Planning for the fiscal year 2013/2014 is estimated 4% only. This production percentage is nothing in relation to the wealth that Egypt possesses.
The largest part of all documents confirming one or another status of the foreign person by some country will require a further legalization according to current regulations of any other country, where a foreign national plans to work and/or reside in the future.
It's not a secret that Ukraine is still one of the market dark horses in context of entrepreneurship. Not many of large companies venture to base their businesses here despite of the wide range of potentially profitable areas for investment. The events of winter and spring of 2014 scared even those who worked steadily for our economy for years. However, now due to the current European course, there are good prospects for the climate improvement in this area
On December 4th the Official Gazette published Law 1/2014 amending the Capital Companies Act to implement corporate governance modifications. This reform is based on the Report of the Committee of Experts submitted to the Council of Ministers on the 23rd of May 2014.
The majority of construction contracts include a provisions referred to as the "No Damages For Delay" clause; a well-drafted clause can limit a party's exposure to damages in the event of a delay on the project's schedule. Despite these provisions, there are exceptions to their enforceability.
In 2014, the share of Cyprus companies exceeded 30% of the total foreign direct investment in Ukraine. Following the recently imposed duty to disclose beneficial owners, the proposed denunciation of double tax treaty with Cyprus initiated by the Ukrainian government, and the improved Ukrainian transfer pricing rules, the question is whether it is still good to do business in Ukraine through Cyprus.
This article intends to highlight and decipher some of the most common clauses that appear in a typical business contract. These basic provisions, called boilerplates, are included in agreements to protect the contracting parties. They typically follow a standard format and they are worded carefully in order to hold up in a court of law. Even though most contracts include these boilerplates, many people do not read nor understand what they are signing.
Don’t say it if you don’t have to, and never in writing.
Who gets the patient medical records after a physician leaves a group medical practice? Here's a proposed structure that is fair and resolves the problem up-front for all sides.
Business clients dealing with international trade frequently asked us whether an independent bank guarantee issued under the URDG 758 (the ICC Uniform Rules for Demand Guarantees 2010) is valid, binding and enforceable under the Italian law or not and, if not, whether and how it can be amended in order to ensure it is valid, binding and enforceable as an independent bank guarantee under the Italian law.
This reform is of crucial importance since it makes numerous amendments to the listed company’s regime.
Savings of up to €48 million thanks to new rules for cross-border judgments.
Turkey, as an emerging market, has its ups and downs to invest from time to time. These times depend on several different factors, but tracing them has crucial importance for investors. Focusing into Mergers & Acquisitions deals can be inspiring when taking decisions for investments.
In the past lawyers for the hospitality and entertainment industry, for restaurants, hotels, festivals, events, and attractions in California handled matters such as food safety, contracts with entertainers, alcohol regulations, or injuries on hotel properties. Hospitality and entertainment lawyers in places like Palm Springs today must also seek to protect guest confidentiality and safety at live music pool parties, film and music festivals, major sporting events and more.
Procedures of Land Acquisition in the Framework of Investment – Land Acquisition Deriving in Indonesia
Land Acquisition in the framework of investment is particularly regulated by Decree of State Minister for Agrarian Affairs/ Head of the National Land Agency Number 21 of 1994 on Procedures of Land Acquisition for Company in the Framework of Investment (“Kepmenag No.21/1994”).
Like lawyers, private investigators may charge in a variety of ways. In order to have a clear understanding, ask for a written explanation of fees.
The jurisdiction of courts ends at state borders. This makes it difficult to enforce claims against foreign debtors. Notwithstanding this, creditors can be helped to ensure that justice is done to them.
Despite the fact that the German market is considered to be the third biggest economy in the world, with an annual turnover of (if you mention turnover an exact figure is expected) Billions of Euros, Israeli business presence in Germany is still relatively poor. How should business be done in Germany? Which Israeli businesses succeed in Germany and in interacting with Germans, and how can the Israeli “Chuzpa” be more helpful? These are things one ought to consider.
Legal proceedings are not decided in court; rather, it is comprehensive and detailed preparation that is decisive for the successful conduct of a case.
Your IRA is protected from creditors if you have to file bankruptcy, but what happens to that IRA if you die and leave it to a child? Many assumed that the inherited IRA retained that creditor protection in a child’s bankruptcy. The United States Supreme Court ruled otherwise in Clark v. Rameker, 134 S. Ct. 2242 (2014).
The rules pertaining to voluntary disclosure in the event of tax evasion are set to be tightened from 2015, but even now a voluntary declaration has to be able to satisfy certain conditions for it to be effective.
As part of the implementation of the Competition Ordinance (Cap 619), the Hong Kong Competition Commission (“Commission”) is required to issue guidelines on how it expects to interpret and enforce the Ordinance (Section 35). For that reason, the Commission together with the Communications Authority on 9 October 2014 jointly published 6 draft guidelines (“Guidelines”) for public consultation.
A recent decision by the Supreme Court of Ohio highlights the importance of having clear terms in contracts between general contractors and subcontractors, especially in regard to payment provisions.
Parties to a contract usually feel a sense of security knowing that their agreement is embodied in a written, properly executed document containing all of the agreed upon terms. However, if such an agreement is a “dual source” supply contract executed under Michigan law, the parties may not be as secure as they believe.
Just how limited is your liability if you own a limited liability company?
Voluntary disclosure can spell a return to a state of legal tax affairs for tax evaders. However, despite growing pressure, voluntary declarations should be thoroughly considered and well prepared.
TQM is commonly known for the principles of continuous improvement, awareness of total cost of quality, recognition that everyone holds responsibility for quality, customer orientation/focus, process orientation, commitment of senior management etc. However, quality has been commonly associated with industries where it originated and not with services which are difficult to measure, evaluate and apply a zero-defect concept to.
Legal action can be taken even against the assessment notice of a tax office. Those who get involved in a tax dispute normally require plenty of stamina and competent legal representation.
The finance ministers of the G20 are continuing to expedite the fight against tax evasion. Account data is rapidly set to be automatically exchanged among them.
In order to assert oneself in an increasingly global market, many firms are making growth their priority. Yet there are many legal aspects that need to be observed in cases involving takeovers, acquisitions or mergers.
Thanks to relatively favourable conditions for the financing or use of property, leasing enjoys great popularity. The lease agreement regulates the corresponding rights and obligations.
The receipt and service of papers play a vital role in international procedural law, e.g. they set in motion important time-limits.
The German Federal Court of Justice (Bundesgerichtshof (BGH)) reached a decision on September 18 in a trademark lawsuit and prohibited the defendant from using a registered colour trademark (Az.: I ZR 228/12).
Twentynine Palms Marine Accidents and Fatalities on CA Hwy 62, The Killer Highway - A Personal Injury Tragedy
At least 182 people have died on CA Hwy 62 since 2002. More than 90 lives have been lost since 2007. The risks of dying on Hwy 62 make this highway a dangerous road to travel and the stretch of Hwy 62 from 29 Palms to Palm Springs one of the most dangerous stretches of highway in California. Marines from the Twentynine Palms Marine Corps Air Ground Combat Center and personal injury attorneys who represent grieving families know all too well what is known as “The Killer Highway.”
By STA Law Firm
Setting up a business in a new jurisdiction often calls for deciding on legal structure of entity to be incorporated. Investors may consider setting up a sole proprietorship, a limited liability partnership, joint-venture from of business or operate as co-operative society. There is no yardstick in choosing the entity type - a lot depends on careful planning, understanding governance norms, exit strategy & more. The best choice isn't always obvious or readily available.
In January 2015 the Treasury Department issued regulations to establish banking relations and allow U.S. companies to export items for sale in Cuba without the trade barriers that have existed for decades. While some Republican leaders have criticized Obama’s actions, normal relations with Cuba are only a matter of time and the opportunities for attorneys representing American and European companies wishing to pursue commercial opportunities in Cuba have never been greater.
Untaxed illicit earnings in foreign clandestine accounts are preying on the minds of more and more tax evaders. A voluntary declaration can ensure they sleep easy again.
Corporation tax is a type of income tax for legal persons, e.g. corporations. It is for this reason that some of the rules of income tax are applied to its taxation.
Yes, a minor can legally enter into a contract. However, whether the contract is enforceable will depend on a number of factors.
Voluntary declarations leading to immunity serve as an incentive to return to a state of legal tax affairs, yet they will only succeed if they are error-free.
German tax law is complex and constantly changing. It is therefore easy to unwittingly render oneself guilty of tax evasion. The consequences can be drastic penalties.
When a person indicates that he or she is not planning to perform his or her obligations under the contract, this is considered anticipatory repudiation. The party who was not planning to breach the contract can use anticipatory repudiation in order to seek remedies against the other party.
The planned tightening up of voluntary declarations supposedly has cash registers ringing. Die Welt reports that this will apparently entail additional revenues of around 15 million euros a year.
The State Duma was sent a draft law on mandatory biometric registration of citizens of Russia. According to the authors of the draft law, mandatory biometric registration will allow getting away from the practice of presenting identity documents and will allow solving problems in the law and in the social sphere in time.
The state looks to profit even from gifts, levying gift tax as soon as the tax allowance is exceeded. There are, however, different possible arrangements in connection with gift tax.
Heirs must file an inheritance tax declaration with the tax authorities. If the estate includes illicit earnings, these must be reported immediately.
There is always the beginning and the end. Upon being appointed as directors, many of these directors may not be aware of the requisite notice period of resignation from their high office.
The pressure on tax evaders continues to rise. Since North Rhine-Westphalia announced an additional purchase of CDs on tax evaders, Hessen is now also not ruling out this option.
In Thailand, business formation in Thailand is very expensive in order to comply with the rules and regulations set forth by the government. Many might have expected that it is going to be cheap, but it is more of a hassle than one could anticipate.
Due to the advancing pace of globalisation, international tax law is becoming increasingly more important. This affects private individuals, but especially internationally operating businesses.
As exception to liberty of contracting and unlike a number of other industries, Turkey's petroleum industry imposes certain obligations to petroleum right owners in contracting the conduct of the petroleum operations. At the first glance this seems that it aims to strengthen the management of hazards by enhancing the safety however the liability imposed to petroleum right owners in case of contracting the operations still remains unclear in terms of limitation.
For many people, tax law is a closed book. Expert help is frequently necessary in order to pay taxes correctly and at the same time avoid giving away too much money.
A brief description of corporate vehicles commonly used for doing business in Russia.
Planned obsolescence occurs when a product designer creates a design that is meant to phase out after a certain period of time. This makes the product have a lifespan of a limited duration, often influencing consumers to upgrade to a more expensive model. Many times, the product fizzles out just after the warranty period.
There are many different types of business entities, each having their own advantages and disadvantages. This article intends to define and explain some of the most common entities. Since people have different goals and circumstances, it is important for one to know which option is the best fit for his or her business.
Buying a franchise can be an immensely profitable business opportunity. You can sell goods and services that have instant name recognition, and get training and support that can help you succeed. However, buying a franchise is no guarantee of success. Here is some useful information about franchises to consider before you decide to purchase one.
Germany Tax Evasion: Only Those Who Take Notice of the Details Pertaining to Voluntary Declarations Emerge Unpunished
It is a misapprehension to believe that a voluntary declaration automatically leads to immunity following tax evasion. Strict rules apply for voluntary disclosure.
On September 24, the federal government adopted a tightening of the rules for voluntary disclosure in the event of tax evasion. Amounts shall only remain unpunished up to 25,000 EUR.
Risk Of Discovery Continues To Increase – Return To A State Of Legal Tax Affairs Via Voluntary Declaration
Owing to so-called group enquiries, German tax investigators are able to retroactively search for tax evaders in Switzerland up to February 1, 2013.
Public Chamber of the Russian Federation held a hearing to discuss issues on improving legislation of the Russian Federation in the field of migration control. Part of the hearing dealt with the basic provisions of the second version of the bill "On Immigration Control of the Russian Federation".
On November 24, the President of the Russian Federation signed the Federal Law eliminating the need for foreign citizens obtaining a work permit in the Russian Federation who arrived via a visa-free regime. From January 1 2015 for the implementation of the work in Russia CIS citizens have to be issued a patent. The patent will allow the specified foreign citizens to work as for legal entities and for physical persons.
Anyone coming into an inheritance generally has to pay inheritance tax. However, by observing certain regulations, they can ensure that the tax authorities take a smaller share.
Like other jurisdictions, Russia has a set of requirements which may impact upon persons considering investing or investing into Russian businesses.
The Foreign Business Act of 1999 generally restricts service businesses under Category (21) of List Three, with certain explicit exemptions such as hotel management services under Category (17). Furthermore, the Ministerial Regulation Re: List of Service Businesses Exempt from Requiring a Foreign Business License of B.E. 2556 (2013) also exempts certain businesses related to securities and investment from requiring a Foreign Business License.
Effective January 1, 2015, a new regulation on opening and closing branches and representative offices of non-Russian companies shall come into force in Russia.
In large construction projects, it is not unusual to have a joint venture between parties; when these joint venture agreements are terminated, however, the specific terms must be scrutinized. A recent Georgia Court of Appeals case discusses some important issues such as fiduciary responsibility, contract ambiguity, and indeminification.
Debt collection is a complicated juridical procedure, especially if your debtor is in the other country. Along with the already familiar problems there are some additional aspects (like linguistic barrier, country’s specific legislation). It seems nearly impossible, but it can be solved easily. To solve the problem, a foreign businessman needs Ukrainian lawyers’ help.
The Russian Law "On the Protection of Competition" (the "Competition Law") came into effect on October 26, 2006.
To successfully structure a cross-border transaction, it is important to do a careful antimonopoly law analysis at an early stage.
Distribution agreement is not a concept that is well-developed in Russia. There is not an established court guidance on most of the terms and conditions a reasonable non-Russian supplier seeks to include into the distribution agreement.
In different countries Patentability of business methods has always been the subject of controversy. Ukraine is not exception of this rule.
Immigration laws are very important factor for the developing countries who used to export manpower to developed countries. In the developed countries, the immigration practices are handled by skilled lawyers but unfortunately in Bangladesh it is mainly handled by brokers,agents, Travel Agencies and illiterate people. That is why the applicants are not getting proper legal advice and facing serious problems as well as harassment regarding Immigration matters.
The economic boom in UAE has resulted in huge developments and a considerable increase in trade. This in turn has led to a rise in transactions which require a fast debt recovery mechanism.
A large part of our judgment collection law practice is collection of labor awards, or more specifically enforcement labor judgments. Essentially, these result when an employer fails to properly pay an employee for wages, overtime pay, or otherwise violates California labor laws.
The Investment Promotion Act of B.E. 2520 (1977) allows three categories for foreigners to enter Thailand in addition to the standard immigration rules. Section 24 of the Act allows for foreigners to enter the country in order to survey investment opportunities. Section 25 allows foreigners who are skilled technicians or experts (and their dependents) to enter the country to work for a company that has been promoted by the Board of Investment (BOI).
Testing of foreign citizens in the Russian language, history and basic understanding of Russian law. In the Public Chamber of the Russian Federation the issue of control over the organization where foreign citizens are tested for knowledge of Russian language was discussed. This issue is particularly relevant in relation to foreign citizens who hold certification, but are not able to speak in Russian.
A recent decision by the Georgia Court of Appeals has given homeowners loop-hole against lien claims as the lien claimant's summary judgment against the homeowner was reversed.
Strong relationships with customers remain the key to successful contractual lending and borrowing arrangements in the UAE. However, lending on the strength of relationship (or name) alone is not economically viable or justified.
Since last 10 years the financial developments and the promising financial and technological progresses notably in energy, tourism and infrastructure sectors have attracted the foreign investors' interest.
How a marital dissolution action can affect an family business in California.
When the business faces a cash flow problem, many business owners use the payroll taxes collected but not yet turned over to the IRS.
First to be explored is the legal nature of the so called “nominee shareholder”. Nominee shareholder is a shareholder of a company holding shares nominally only, that is, only in name. In such a way the identity of the ultimate beneficial owner (“UBO”) of the shares is not disclosed.
The German government has approved a bill to tighten the rules for voluntary disclosure in the event of tax evasion. The law is expected to enter into force on January 1, 2015.
Collecting on a judgment even in ideal circumstances can often be a time-consuming and complex process, and that presumes the debtor is solvent, and doing business and/or making money. When the judgment enforcement against a debtor who is a company or legal entity, which appears to be (or is) out of business, the process can be considerably more troublesome and taxing.
The practical effect of indemnity provisions in commercial contracts is dependent upon the detail in their drafting, an important ruling has confirmed.
Joint ventures take many different forms but few have such an unusual background as a recent dispute involving what started as a simple agreement.
An association is frequently established as a way of pooling the strengths of individuals to form a strong special interest group. Legal and fiscal aspects must be observed when establishing an association.
By STA Law Firm
All change is not growth, as all movement is not forward (Ellen Glasgow). The term ‘change’ in simplest form means going from one state to a new state. Although the word ‘change’ is broad enough to connote positive as well as negative change, the likelihood of ‘change’ unfolding positive or welcoming outcome cannot always be pre-determined. A well-conceived and planned change could however result in positive if everything related with the plan goes right.
Many foundations serve charitable purposes, but there are also those foundations that are run for private benefit, such as the family foundation. The latter can e.g. be used to avoid inheritance disputes.
Breaches of the terms of a contract may entail legal consequences, such as e.g. damages claims. It is therefore all the more important to regulate rights and obligations in the contract in detail.
Family owned businesses may thrive over multiple generations. To have lasting success, the family owned business needs to transition ownership from generation to generation. To preserve family harmony and maintain a healthy business, it may be best to transition ownership to family members that are active participants in the business, while allowing non-active family members an opportunity to “cash out” and direct their funds elsewhere as desired by their preferences.
It is becoming increasingly difficult for tax evaders to remain undetected due to the automatic exchange of information between EU member states, particularly as Switzerland has signalled its willingness to cooperate.
Partnerships between agents and principals in agency relationships don’t always go smoothly. In this case, a dispute arose between a travel agent and a travel operator related to ‘price manipulation’.
In January 2014, the judge hearing the application for interim relief at the Amsterdam district court was required to pronounce on the continued operativeness on a company of a shareholders’ agreement. Company law specialist Hein Hoogendoorn explains the judgement by the judge hearing the application for interim relief on this question.
The use of the slogan “the only complete programme throughout Germany” in an advertisement for a dental care programme is misleading in the opinion of the Higher Regional Court of Hamm.
Unpaid Income Tax Establishes Liability of the Managing Director of a German Limited Liability Company
In terms of the overall responsibility, a managing director is also liable for the income tax of employed workers that is not paid to the tax office.
North Rhine-Westphalia’s (NRW) Minister of Finance, Walter Borjans, announced in the Rheinischen Post Online that NRW will continue purchasing CDs with data on suspected tax evaders.
Contractors and suppliers, whose labor, services, equipment or materials were used to improve real estate, may be entitled to file a claim of lien under the Georgia Mechanics and Materialman's Lien Statute if they are not paid. Navigating this law, however, can be difficult so we have put together this step-by-step guide to help you understand the complexities of Georgia's Lien Laws.