Business and Industry Law Articles

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




Georgia Court of Appeals Denies Grading Contractors' Claims

A grading subcontractor was not paid for putting in the roads in a new subdivision; after the construction lender foreclosed upon the project developer, the subcontractor sought payment from the bank. After the trial court awarded the subcontractor its full claim plus attorneys fees, the Georgia Court of Appeals reversed. Some very important lessons for subcontractors and lien claimants are made clear in the ruling.

Corporate Takeover in The Netherlands – Take Good Advice!

Now that the economy is improving again, we see an increasing number of corporate takeovers. Taking over a company is an important process both for the buyer and the seller, in which unfortunately many things can go wrong. Most disputes occur because the parties have not taken good advice or have not (have) committed their agreements in writing in a clear manner. Corporate lawyer Hidde Reitsma explains the in and outs of a takeover process and what the parties should consider.

4 Common Types Of Small Business Litigation Suits

While big corporations and companies get sued fairly regularly, small businesses are liable these days as well. Small business litigation suits are more common than people think, and they can have serious consequences for the companies involved, including costing huge amounts in legal fees and settlement costs, tainting professional reputations, and taking up valuable time and effort.

Eight Common Affirmative Defenses for Breach of Contract Lawsuits

Breach of contract lawsuits are common in the business world, but they can also be complicated. To win a breach of contract suit, you must present affirmative defenses to justify your actions and explain why you did or did not break the contract in question for an acceptable reason.

SAFE Issues New Regulations on Cross-Border Security

  By MMLC Group
On May 12, State Administration of Foreign Exchange (“SAFE”) issued Regulations on Cross-Border Security as well as its Implementation Guidelines (the “Regulations”). The Regulations has become effective on June 1.

8 Simple Changes To Improve Your Construction Contracts

In today's cut-and-paste world, even leading contract attorneys make mistakes. If you want to make your contracts easier to read and promote a problem-free project, then consider implementing some of the changes which we have suggested here.

Easier Rules for PRC Cross-Border Securities and Guarantees

On 12 May 2014, the State Administration of Foreign Exchange (“SAFE”) issued the Rules on Foreign Exchange Administration for Cross-Border Security (“Rules”) which became effective on 1 June 2014. The Rules relax government control of capital and simplify cross-border guarantee of loans and investment requirements in and out of the People’s Republic of China (“PRC”).

Liability of the Shareholder for Public Debts under Turkish Law

Tax Liability in Joint Stock (“Anonim Şirket”) Companies As it has been known, administration and representation of joint stock companies are carried out by board of directors of the company.

How to Answer Written Discovery in Your Case

You may have been told recently by your attorney that you need to answer written discovery in your case. This may come at a time when you are already stressed out by the fact that you are involved in a lawsuit. This article will give you some practical tips about how to manage the paperwork more easily.

Don't Make a Mistake--Read Your Contract

Last week, the Georgia Court of Appeals rendered a decision which is detrimental to subcontractor who do not thoroughly read and understand their construction contracts. The contract included a provision which made the individual signing the contract on behalf of the subcontract company personally liable for the contract's performance. The court permitted this provision to be enforced against the signatory.

China's MOFCOM Rejects Maersk's P3 Alliance

  By MMLC Group
This article looks at the recent decision by MOFCOM regarding Maersk's P3 Alliance, being only the second case ever where MOFCOM has refused approval. The implications of this decision need to be kept in mind by parties with large market shares, looking at entering into M&A transactions or cooperative ventures, affecting China.

How to Buy Residential and Commercial Real Estate in Egypt

Law description for business commercial companies established in Egypt. These rights have described according to the International Law in Egypt. Also the article says about private property in Cairo, Hurghada. But there are other rules for Sharm-El-Sheikh.

New Merger Control Legislation in Cyprus Enacted

The 2014 merger control regime replaces the previous framework in place since 1999 and increases the powers of the Commission for the Protection of Competition in assessing, investigating and clearing merger, acquisitions and joint ventures.

Licence and Registration, Please! – New Licensing and Registration Regime for Directors of Cayman Companies

On 4th June 2014, the Directors Registration and Licensing Law, 2014 (the “Law”) came into force in the Cayman Islands. The Law requires all directors (wherever they reside in the world) of “Covered Entities” to register with the Cayman Islands Monetary Authority (“CIMA”). The Law has also introduced a licensing regime for “Professional Directors” and “Corporate Directors”.

Developing Photovoltaic Power Plant in Turkey

According to the decision of Energy Market Regulatory Authority (EPDK) on 24 May 2012, EPDK is planning to accept photovoltaic power plant licence for total installed capacity of 600MW for production capacity by June 2013.

Setting Up a Company in Turkey

It is true say that company incorporation process in Turkey is relaxed following implementation of new Turkish Commercial Code. However, in terms of time, with it is length process Turkey is still well behind from most of the European countries

The UAE Competition Law (Federal Law Number 4 of 2012)

The UAE Competition law published in October 2012 and aims at regulating business and trading entities operating within the United Arab Emirates. The Competition law safeguards rights and interests of consumers at large and also aims at maintaining market sentiments.

Dubai - A Global Leader

The near collapse of major financial markets around the world in 2008; has clearly left a lasting legacy on many. Questions have been raised in past as to what led ot the crisis, people who were instrumental in driving the downturn

Corporate Structure, Levels of Legal Control Over a Practice

When the partners in a health care practice argue, usually it comes from one of these problem areas: control, compensation, exit. Today I�ll talk about control.

Responsibilities of the Limited Liability Company’s Manager

In a limited liability company, the manger can be appointed in the company’s memorandum of association or in a separate agreement. His appointment can be for a limited period or an unlimited period.

Articles of Association or Conversion into Companies Created Under AUDSC-GIE?

In order to harmonize them in the event of the new N-AUSC-GIE's entry into force", we have arisen, in an "ohada" purist context, the issue of the survivability of harmonized Congolese companies, which have not harmonized their articles of association with the provisions of Uniform Act on Commercial Corporate and Economic Interest Group of April 17, 1997, (AUDSC-GIE), when the New Uniform Act on Commercial Corporate and Economic Interest Group of January 30, 2014 (N-AUDSC-GIE) comes into force.

New Legal Framework to Promote the Public-Private Partnership in the Democratic Republic of the Congo

On February 11, 2014, the Democratic Republic of the Congo (DRC) enacted the Law No 14/005 creating tax, customs and parafiscal system of non-tax revenues and exchange control system applicable to Cooperation Agreements and Cooperation Projects, "PPP Law".

The Democratic Republic of the Congo is Legislating Leasing Operations

Through the decades, the economic environment of the Democratic Republic of the Congo ("DRC"), has been undermined by several problems causing unfavorable situations to carry out commercial, economic and industrial activities.

Love Hurts, and so Can Confidentiality

When you agree to say nothing to anyone, say nothing. To anyone.

Goose Bumps, Conundrums and My Happy Place - Words Matter

If you own a business, do business with a business, enter into contracts as a business or for a business, or if your livelihood now and for the foreseeable future depends upon what that thing you’re signing actually says, words matter.

The Problem Militating Against the Growth of Arbitration in Nigeria

Unlike commercial litigation where litigants spend many years in court for their dispute to be resolve by a Judge, an arbitration proceeding is fast and flexible. The parties agree on the process of resolving their dispute. Arbitration proceedings are confidential and an arbitral award is not subject to appeal. Notwithstanding the advantages of arbitration over litigation, there are many challenges facing Arbitration as a means of resolving commercial disputes in Nigeria.

New Anti-Corruption Law in Italy - Commercial Bribery

New criminal offences under Italian Law - Commercial Bribery and Undue inducement to give or promise benefits - Corporations at risk of fines and disqualification sanctions if not compliant - Setting up or updating a compliance program.

Tax on Legal Corporations in Costa Rica

Corporation taxes came into force on April 2012, which applies to all legal entities that are duly registered in the Costa Rican Public Registry (e.g. “S.A.”, “LTDA”, among others), as well for those corporations that are in the process of being registered or that will be registered in the future.

Requirements to register a “Sociedad Anónima” or a “Sociedad de Responsabilidad Limitada”

We resume the incorporation of the “Sociedades Anónimas” (S.A.), also known as Corporations, and the“Sociedades de Responsabilidad Limitada” (S.R.L.) or Limited Liability Companies, by explaining the legal information and requirements to submit and registered them into the Costa Rican National Registry.

Can Shareholders in Turkey Borrow From Their Company?

Majority of companies in Turkey are family owned companies as their equivalents around the world. It is predicted that over 70 % of companies are family owned companies in the world. Family owned companies differ from other companies by their policies and management. Mostly, in family owned companies “the boss” (mostly the founding partner of the company) takes over whole management of the company and wants to carry out all business by his hand even daily products purchase and expenses.

Extra! Extra! Read All About It! IRS Commissioner Announces That Changes Are In the Offing For OVDP 2012

On June 3, 2014 the new IRS Commissioner, John A. Koskinen, gave a speech before the International Business - OECD International Tax Conference. His speech covered the history of the offshore enforcement initiative since the UBS debacle in 2009. His remarks acknowledge what most professionals in the tax community have recognized since the inception: that OVDP needs more tweaking in order to meet the overall goals of enforcement and fairness.

Corporate Liability in Italy and How to Limit it - Italian version of FCPA?

Italian law on corporate liability in Italy is more and more being used as a powerful tool to involve corporations in criminal proceedings in order to push them towards a new culture of ethical corporate governance. In this article Marco Cozza outlines the legal framework and considers its likely impact on companies, top executives and shareholders.

Incorporating a Limited Liability Company in Italy

Limited Liability Company is one of the simplest companies to use in the Italian market with limited costs and -of course- limited liability. This article features the main steps and information you will need to incorporate it.

Guide to Set up and Maintain a Company in Argentina

Regardless the business field of the investment, there are certain general steps to start a business in Argentina and to keep it in a legal good standing. Following, we will set forth a general guide aimed as reference for those wishing to do or already doing business in Argentina. The guide describes the formation process of a Sociedad Anónima (or SA) for being this vehicle the most suitable one to channel foreign investments.

Escrow - A New Tool for Doing Business in the Ukraine

A matter of trust in business has a very valuable. It is no exaggeration to say that many good bargains are not made because of doubts that counterparties fulfill all the conditions. For example, in the case of contract of sale the seller is not sure he would get money for the sold goods and the buyer, in return, is not sure of receiving the goods

Alphabet Soup for Installment Agreements

What is an installment agreement? An installment agreement is an option for those who cannot pay their entire tax bills by the due date. It allows taxpayers to pay the amount due over a period of time

India Coporate Governance - A New Outlook

Provided is very informative, useful, and securing information about the changes introduced by the Indian Companies Act of 2013 to the realm of Corporate Governance. These changes and refinements in the practices of corporate governance in India are certainly very elegant and innovative for rendering the corporate world of India at par with that in most of the major and fast progressing economies of the world.

Entering Azerbaijani Market: Franchising and Distribution

In this note we provide general information about some of the legal issues that a foreign franchisor or supplier (in distribution agreements) should consider when entering Azerbaijani market.

New Rules in Albania for Combating Late Payment in Commercial Transactions

Invoices released to business and public entities are now an executive title in Albania.

Kazakhstan: Comparative Analysis in Forming and Running a Business

Now the Republic of Kazakhstan, as one of the leading economies of CIS represents jurisdiction open for investment activities, introducing the foreign investors with mounting economic opportunities, supported with favorable investment climate, advanced in development of legislation and business oriented tax and customs policy.

Arbitration: Your Counterparty is a Resident of Ukraine

Particularly, Ukraine, as the successor of the USSR, is the co-signatory of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) and the European Convention on International Commercial Arbitration of 1961, and the Law of Ukraine "On International Commercial Arbitration" almost verbatim repetition of the Model Law UNCITRAL "On international Commercial Arbitration" of 1985.

Technology & Communications Law - Malaysia

A basic insight into the laws of technology and communications in Malaysia.

Polish Joint Stock Company - S.A. (Spółka Akcyjna)

Polish S.A. (Spółka Akcyjna) is the most professional form of doing business in Poland by foreigners. A Joint-stock company is a legal entity with a separate legal personality from its stockholders. This is the safest way of doing business for the stockholders as they not liable for the company’s obligations, they only bear a risk up to the value of stock contributed.

Deconstructing the “Act of Production” Doctrine

Tax cases are document-intensive cases. As any white-collar criminal defense attorney knows all too well, summonses and grand jury subpoenas routinely seek documents. And there is a good reason why. If the government cannot get the requested documents, it often cannot make a case. It is for this reason that the seminal issue in document production cases is whether the taxpayer has a Fifth Amendment privilege with respect to documents that he possesses.

The Rules Governing Taxation of Foreign Nationals

Below are the rules governing taxation of foreign nationals.

New Law Passed to Modify Contract Law in the Cayman Islands

The Contracts (Rights of Third Parties) Law, 2014 (the “Law”) has now been passed into law in the Cayman Islands and is expected to enter into force shortly. The Law will grant to one or more persons who are not parties to a contract (each a “Third Party”) the ability to enforce rights and benefits expressly granted to the Third Party in the contract.

What to Do to Quickly Close the Business in Ukraine

Ukraine, as one of the largest countries in Europe, with over 40 million citizens, has been and is potentially attractive for business. Some western companies, especially last ten years, have opened in Ukraine many joint companies or subsidiaries. Some business was fine, someone had not suspected result.

Starting a Business in Azerbaijan

Some of the legal issues that a person starting business in Azerbaijan would need to consider. This article covers corporate registration, tax and employment aspects of starting and operating business in Azerbaijan.

Directors’ Liability: In The Event Of A Breach Of Duty, Directors Are Also Liable With Their Private Assets

Company directors of a corporation bear a huge responsibility as well as a high risk. If they breach their duties, they may also be liable with their private assets.

Growing Needs of (LLP) Limited Liability Partnership

Ours this informative web-article presents opulent information about the limited liability partnership (LLP) firms in India. These LLPs are enormously popular in nearly all economic sectors in India and abroad. Registered and regulated under the rules and regulations given in the Indian LLP Act of 2008, these LLPs are certainly highly suitable and preferable corporate entities for combining entrepreneurial talent and expertise of one partner, and capital and resources of the other partner.

Business Licensing in Albania - Albanian National Licensing Centre (NLC)

The licensing system is governed by Law no. 10081, dated on 23.02.2009 “On licenses, authorizations and permits in the Republic of Albania”, which sets out 45 categories for licenses, permits and authorizations.

Council Adopts European Account Preservation Order

The Council of the EU adopted yesterday the regulation establishing a European Account Preservation Order.

Responsibility of Sales Organizations for the Criminal Behavior of an Agent

In a judgement dated 15.03.2012 (Case No.: III ZR 148/11) the Federal Supreme Court of Germany (BGH) ruled that sales organizations can be held responsible for the criminal behavior of an agent.

The Change Of Company Object Of A GmbH (limited liability company) Can Be Considered A Re-establishment

On 03.06.2012, the Federal Supreme Court (BGH) held that the resumption of business operations associated with a new company object should be classified as an economic re-establishment. This must be disclosed to the court of registration; otherwise liability was likely to arise.

Fair Dealing by Directors under Hong Kong’s New Companies Ordinance

Fair Dealing by Directors under Hong Kong’s New Companies Ordinance

Decision of the Federal Supreme Court Concerning Advertising and Combined Offers

When merchandise is offered at an extremely low price and only in connection with the purchase of a main product this is called combined offers. This method of sales is increasingly used by many companies as a new marketing strategy.

Directors’ and Officers’ Liability in The Netherlands: the Beklamel Standard

At the time that a director or officer commits a company to an agreement, while he is reasonable aware that he cannot comply with this agreement, this director or officer can be held liable for any loss. This problem was recently addressed in the court of Maastricht (The Netherlands).

Limited Liability vs Joint Stock: Advantages and Disadvantages in Turkish Law Perspective

Due to the recent amendments in the Turkish Commercial Code and the equity principle between domestic and foreign investors, the number of established local and international companies has been increasing in recent years in Turkey. As a conclusion, the question which company type shall be established comes to the fore frequently. Before the clarification of differences between these company types, it is important to provide information regarding the legal amendments in Turkish company law.

Shareholders’ Liability for Public Debts in Turkish Law

As is known, administration and representation of joint stock companies are carried out by board of directors of the company. Members of board of directors can be elected by general assembly of the company from among shareholders or other third persons and board of directors can even leave the administration and representation of the company to only one member of the board of directors or other persons who are not member of board of directors as well.

Limitation Of Employment Contracts And Termination

Since coming into effect in the year 2000, the Labour Court Acceleration Act changed procedural rules of the Labour Court Act, but also set down an important new provision in substantive labour law. Its goal is to simplify and speed up labour court proceedings.

Sales Organizations Can Be Held Responsible for the Criminal Behaviour of an Agent

In a judgment dated 15.03.2012 (Case No.: III ZR 148/11) the Federal Supreme Court of Germany (BGH) ruled that sales organizations that provide capital investments are in certain cases liable for the criminal conduct of their sales representatives.

Regulations Of Commission In The Standard Business Terms (AGB) For Trade Representative Contracts

Trade agents contractual commission regulations can be ineffective if they are contradictory according to § 307 para. 1 sentence 2 BGB (Federal code of law).

Always, Always, Always Read the Contract

Think about the last contract you signed. Did you know which sections were negotiable? Which provisions, with negotiated changes, could have enhanced the value received from the contract?

The Importance of Proof of Ownership

There are many advantages to owning a business, assuming that ownership can be proven. Owning a business allows for personal wealth appreciation as the value of the underlying business increases. Corporate stock and limited liability entity ownership or membership interests provide an added benefit of liability protection.

Fighting Back Against Internet Defamation

The internet is a tempting forum for employees and competitors to get revenge by posting negative reviews. Many consumers read websites such as Yelp when choosing a businesses to patronize. We business-owners should understand this new phenomenon and deal with its repercussions, especially negative reviews.

Prospectus Liability

Prospectuses on investment opportunities are designed to provide investors with essential information for their investment decisions. Therefore, the prospectus must fully and accurately inform potential investors or purchasers about all circumstances of the offered investment model that are relevant or may be essential to his or her decision. In the case of negligence, improper or fraudulent misrepresentation in a prospectus, liability for the prospectus might arise.

Turkish Retail Sector: 2014 in Glance

The year 2014 is expected to be a year in the Turkish retail sector in which increasing differentiation in terms of profit earnings is going to be felt among the various different industries. Especially crucial to understand the increasing differentiation among different sub industries with the Turkish retail sector is the complex interdependence that Turkey's energy needs have created among traditionally unconnected sectors.

New Judgment Regarding The Liability In A GmbH

In this present case the Federal Court of Justice of Germany was concerned with the question of the shareholders’ liability in a GmbH in case of an economic re-establishment.

When Will the Cayman Courts Pierce or Lift the Corporate Veil of a Cayman Company

The general legal principles regarding corporate personality under the law of the Cayman Islands are similar to those under English law.

Two-person Ltd Liability Company: Requirements for the Dismissal of One of the Two Managing Partners

An important reason for dismissal and immediate termination of the service contract of managing directors of limited liability companies who are shareholders is given when the relationship between the two directors is profoundly disrupted and a normal cooperation is no longer possible. Prerequisite is that the managing director to be dismissed has significantly contributed to the discord. The fault or even preponderant fault of said director is not required.

Regulating Corporate Services Providers in Malta

On the 24th December 2013, Chapter 529 of the Laws of Malta was promulgated, comprising the new Company Service Providers Act. This Act aims to regulate corporate services providers with a view to strengthen the industry’s arsenal against abuse of the financial system for the purposes of money laundering and terrorist financing.

Higher Regional Court of Hamm on a Misleading Dental Advertisement Online – Competition Law

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.

What Should I Do When I Have Been Served With a Lawsuit?

Being served with a lawsuit whether the lawsuit is against you personally or against your business is a stressful thing. While the summons and complaint give you instructions on your deadline to respond to the complaint, those instructions are not complete. This article will help you remain calm when you are served with a lawsuit in Georgia by providing you with more detail on your rights after you have been served.

Validity of Notices of Fixed-Term Employment Contracts and Termination

Ever since year 2000, the Labour Court Acceleration Act is in force, a law to simplify and speed up labour court proceedings. It not only changes procedural rules of the Labour Court Act, but also sets down an important new provision in substantive labour law.

Azerbaijan Is on Its Way to Creating Ambitious Electronic Court System

Azerbaijan is creating its electronic court system. The President of the country issued the respective order (the “Order”) back few months ago . The Order lists the elements of the system. It should include electronic filing, case tracking, notifications, electronic cabinet etc.

Commission Regulations In The AGB For Trade Representative Contracts

Trade agents contractual commission regulations can be ineffective according to § 307 para. 1 sentence 2 BGB (Federal code of law) if they are contradictory.

Unpaid Income Tax Establishes Liability Of The Managing Director Of A GmbH – Company Law

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.

Notices Of Termination and Fixed-Term Employment Contracts Only in Writing

Since 01/05/2000, the Labour Court Acceleration Act is in force, a law to simplify and speed up labour court proceedings.

What makes a Lawyer Websites Effective?

If you have an existing website, or strategy to establish one in the near future, it's important to comprehend the characteristics that can make or break the efficiency of your online financial investment. An unappealing or badly constructed site will do more to hurt your business than to help it. In this article, we look at the basic elements associated with making a website effective.

California Insurance Agent Sentenced For Financial Fraud That Targeted Seniors

A Los Angeles area insurance agent accused of defrauding senior citizens will spend five years in jail and was ordered by the court to pay $1.2 million to compensate his victims.

White Collar Crime: Entrapment and Ignorance of the Law Can Snare the Unwary

The most common white-collar offenses run the gamut of nonviolent crimes from antitrust violations to money laundering. The FBI estimates that white-collar crime costs the United States more than $300 billion annually. These estimates do not take into account cases where aggressive and ambitious prosecutors snare an unwary person, who eventually pleads guilty in the face of intimidation and threats. Then there is the plethora of regulations where ignorant noncompliance is, nevertheless, a crime.

Add the Letter ‘T’ to FATCA, and No One’s Getting Fat Except the IRS

In 2010 President Obama signed P.L. 111-147, the Hiring Incentives to Restore Employment Act. The purpose of the law is in its eponymous title, but the IRS got into the act with the Foreign Account Tax Compliance Act (FATCA) provisions.

How to Best Locate Your Company in Turkey?

In the establishment process of a company, the question which comes to the fore first of all is where the company shall be established. Since the place of business of a company plays an essential role for an investor, he/she shall be informed about the advantages and disadvantages of special areas detailedly in the start-up phase, even if the company's sector is also relevant for investor's decisions regarding his/her projects.

Regulations Of Commission For Trade Representative Contracts

The contractual commission regulations of trade agents can be invalid if they are contradictory.

Acquisition of Polish LLC or Stock Company

The complicated process' of mergers and acqusitions are very often concluded by a simple contract - share purchase agreement. Polish M&A regulations do not differ from standards established in other countries, there are very few conditions to be met, however they must be strictly obeyed otherwise the deal might be null and void in view of Polish Law.

Whistleblowers Helping the Public By Exposing Fraud

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted to assist the government with discovering financial fraud. A recent SEC whistleblower received a $14 million dollar reward for reporting a real estate scam.

Embezzlement in Turkey

Embezzlement is typically seen at public sector however it has been a general issue in private sector as well and it may be a risk factor that causes serious financial loss.

Maintenance and Preservation of Partnership Structure in Turkiash M&A Transactions

The one of the most significant principle in an M&A transaction is “the principle of maintenance of partnership structure” (or the maintenance principle) under Turkish Commercial Code.

Share Types and Share Transfers in Accordance with Turkish Law

Share is the part of the main capital divided to a specific number of unit value. In accordance with the former Turkish Commercial Code (hereinafter shall be referred to as”the former TCC”) it is not mandatory for a Joint Stock Company (hereinafter shall be referred to as “JSC”) to issue shares. JSC reserves two types of shares. These are registered share and bearer share. A JSC may issue shares following the official registration of the company.

Collecting Debts In Germany

Trust is good, control is better. This is especially true when making the first delivery to a new customer. A lawyer can support your company by assessing customer creditworthiness. Experienced lawyers will also discuss strategies to protect you against the risk of default.

How a Bulgarian Limited Liability Company May Validly Transfer/Purchase Real Estate

The question whether the General Meeting of the Shareholders in a limited liability company (OOD) should adopt a special resolution for the conclusion of a transaction for transfer of ownership over real estate was disputable in Bulgarian legal theory and practice. The Supreme Cassation Court finally resolved this issue.

China Reforms its Registered Capital System for Companies

The Standing Committee of the National People’s Congress amended the PRC Company Law which amendments came into effect on 1 March 2014. Most of the amendments relate to the reform of the paid-up registered capital system which aims to simplify the company registration process in the PRC.

In Principle No Right To Restitution Of A Legacy Gifted During Lifetime – Law Of Succession

A legatee is only entitled to restitution of a legacy gifted during the lifetime of the testator under special circumstances.

Incorrect Turnover Projections Can Justify Damages Claims – Franchise Law

If a franchisee is not informed that turnover projections are based merely upon estimations then it is entitled to damages claims with respect to the turnover figures that have not been achieved.

Higher Regional Court of Hamm: Vouchers As Unfair Competition – Competition Law

Automotive garages cannot promote the repair of damage which is covered by comprehensive collision insurance by issuing vouchers for follow-up jobs.

Corporate Structure for a New Business

How to structure a new business venture focusing on small businesses that have only a few shareholders or partners. Four important issues for the structure of the business are share ownership, compensation, control rights, and lastly the shareholders’ exit from the business.

The California Revised Uniform Limited Liability Company Act and What It May Mean for You

The California Revised Uniform Limited Liability Company Act (“Revised LLC Act”) to be enacted on January 1, 2014 may dramatically affect companies with no operating agreements, or operating agreements that do not address the new default provisions under the Revised LLC Act.

How to Incorporate in Turkey

Summary information on formation of businesses under different types of commercial entities in Turkey.

Corporate Social Responsibility As Per New Indian Companies Act 2013

Corporate Social Responsibility (CSR), a term widely use for defining the responsibilities of Corporate world towards the society & environment. Although the term is not new in this Corporate world but its scope & meaning has undergone major changes from treating it as a mere charity in comparison with the responsibilities/duties of the Corporate towards the outer world.

Corporate Governance in Turkey: Lessons From The American Experience

Corporate governance serves as a tool in order to ensure accountability, transparency and responsible management on the part of the enterprises which have increasingly been finding themselves in a more competitive world.


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