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Earnest money may be forfeited if bid is withdrawn
Allowing an appeal in National Thermal Power Corporation Ltd v M/s Ashok Kumar Singh & Ors, the Supreme Court held that a condition in a tender notice that earnest money would be forfeited if...
Arbitration refused due to vagueness of terms in clause
In System for International Agencies v Rahul Coach Builders Pvt Ltd, a single judge of the Supreme Court rejected a petition to appoint an arbitrator, holding that the arbitration clause in the sales contract...
Jurisdiction in section 8 applications
Ruling in M/S Sundaram Finance Ltd and another v T Thankam, the Supreme Court recently held that when an application is filed under section 8 of the Arbitration and Conciliation Act, 1996, the approach...
Orders of civil court not amenable to high court writs
Allowing an appeal in Radhey Shyam & Anr v Chhabi Nath & Ors, a three-judge bench of the Supreme Court recently held that judicial orders of civil courts are not amenable to writ jurisdiction...
New bankruptcy code for Indian companies
Considering the failure of the Sick Industrial Companies (Special Provisions) Act, 1985, and the Board for Industrial and Financial Reconstruction as suitable mechanisms for regulating bankrupt companies in India, the finance minister has announced...
Highlights of India’s budget for 2015-16
We highlight below some important changes that were proposed by the finance minister during his budget speech on 28 February:
Reducing corporate tax
The 30% corporate tax for domestic companies is proposed to be reduced in...
FMC and securities regulator merged into single body
Consolidation of the regulation of all markets under a single body has been a long mooted idea dating back to the Wajahat Habibullah Committee in 2003. However, the suggestion of a merger between the...
RBI can only govern debt transactions
Until now, section 6 of the Foreign Exchange Management Act, 1999 (FEMA), granted the Reserve Bank of India (RBI) powers to regulate, restrict or prohibit any capital account transactions in consultation with the government.
The...
Composite caps proposed for foreign investors
While foreign investment in most sectors is permitted up to 100% under the automatic route according to FDI policy, there are certain sectors to which sectoral caps apply.
In some of these sectors there are...
Details clarified for FDI in construction development
The Department of Industrial Policy and Promotion recently issued a clarification on Press Note No. 10 of 2014 pertaining to FDI in the construction development sector:
No new FDI can be brought in the...
Bill to address resolution of PPP disputes
The finance minister has announced that the government will soon introduce the Public Contracts (Resolution of Disputes) Bill to streamline institutional arrangements around public tenders and resolve disputes arising from these tenders.
The announcement follows...
Foreign investors get bigger slice of insurance pie
On 3 February, the Department of Industrial Policy and Promotion (DIPP) notified Press Note No. 3 of 2015, liberalizing foreign investment conditions in the insurance sector.
The changes introduced are as follows:
The business law digest...
Pepsi bottles up plants for Varun
PepsiCo India Holdings has transferred four of its bottling plants and two co-packing units to its franchisee bottling partner, Varun Beverages. The facilities, in Uttar Pradesh, Haryana, Chandigarh, Uttaranchal, Himachal Pradesh and Punjab, were transferred on...
Sun-Ranbaxy sell products to Emcure
Sun Pharmaceuticals and Ranbaxy Laboratories have sold seven of their formulations to Emcure Pharmaceuticals to comply with an order from the Competition Commission of India (CCI).
According to Khaitan & Co, legal advisers to Sun...
Reliance digs into Pipavav Defence
Anil Ambani’s Reliance Infrastructure has agreed to acquire a controlling stake in Pipavav Defence and Offshore Engineering Company.
The acquisition is said to be the largest to date in the Indian defence sector, which has...
Aditya Birla pumps funds into Ozone
Ozone Projects, part of Ozone Group, which is a real estate developer in Bangalore, has raised ₹1.41 billion (US$22 million) from Aditya Birla Real Estate Fund (ABREF).
The funds were transferred through a non-convertible debenture...
Lodha Developers senior notes issue
Lodha Developers International has issued US$200 million in 12% senior notes due in 2020.
J Sagar Associates was the domestic legal adviser to Lodha. The team comprised partners Berjis Desai and Kaushik Mukherjee, senior associate...
Screen time for Star India
Broadcast network Star India is to acquire the Screen brand from the Indian Express group.
The deal value has not been disclosed.
Screen publishes a weekly magazine on the film and entertainment industry and also owns...
Sun shines down on GSK Australia
India’s Sun Pharmaceuticals is to acquire the opiates business of GlaxoSmithKline (GSK) Australia.
The acquisition includes GSK’s opiates-related manufacturing sites in Latrobe (Tasmania) and Port Fairy (Victoria) and its portfolio of opiates products along with...
Amarchand mediation extended
The mediation between Shardul and Cyril Shroff, the managing partners of Amarchand Mangaldas in New Delhi and Mumbai, respectively, is to continue until the end of April. The brothers were originally to resolve a...
FDI cap rises to 49% for insurance
On 12 March, the Rajya Sabha, India’s upper house of parliament, approved the Insurance Laws (Amendment) Bill, 2015, which will increase the cap on foreign direct investment (FDI) in the insurance sector from 26%...
Plans for patent office progress
A committee appointed by Delhi High Court issued a report at the end of February suggesting ways to address the delays and the excessive backlog of pending cases at India’s patent office.
This is the...
Five join K Law partnership
Krishnamurthy & Co (K Law) has promoted five lawyers to salaried partner, taking its partner count to 10.
The new partners are Sankar Narayan Swamy and Sanket Sethia from the corporate practice and Priti Deshpande...
Four promoted at Chadha
IP boutique Chadha & Chadha has promoted four lawyers, taking its total partner count to seven.
Shivarpita Nailwal, Sonal Madan and Tarun Gandhi from the Delhi office and Gopal Trivedi from the Mumbai office are...
Veritas plucks Wadia Ghandy partner
Veritas Legal, a law firm set up in November 2014 by Abhijit Joshi, the former CEO of AZB & Partners, has poached litigation partner Rahul Dwarkadas from Wadia Ghandy & Co.
Dwarkadas has practised litigation...
Japan’s Soga spots India opportunity
Pankaj Singla, a former senior associate at Corporate Professionals in New Delhi, has joined Soga Law Offices in Tokyo as a foreign law researcher.
Singla spent some time in Japan at Kyushu University where he...
Eight lawyers made partner at JSA
J Sagar Associates has promoted eight of its lawyers as equity partners with effect from 1 April.
The lawyers are: Delhi-based Amitabh Kumar (regulatory and policy, competition law), Anupam Varma (regulatory and policy, dispute resolution)...
Khaitan & Co scores 100 partners
Khaitan & Co has promoted five lawyers to its partnership. According to the firm, it is the first Indian law firm to have 100 partners.
The new partners are Ashish Razdan (corporate), Kumar Saurabh Singh...
Court finds section violates free speech
The Supreme Court of India has ruled that section 66A of the Information Technology Act, 2000, is unconstitutional and should be struck down.
Section 66A relates to punishment for sending offensive messages by e-mail, phone,...
Valuable insights
Dear Editor,
We came across India Business Law Journal for the first time last month and found it to be an excellent publication. We particularly enjoyed the cover story of the February issue (Shutting up...
Interesting case
Dear Editor,
This is to bring to your attention the status of an ongoing case regarding a ship – the MV Seaman Guard Ohio – that is pending before the Supreme Court.
In October 2013, MV...
Mutual debts and the complications involved in China
Set-off is a fundamental concept in today’s economy. It is particularly important in the financial markets, where it performs a crucial role in facilitating financial transactions and reducing risk. In its basic form, the...
Switzerland quickly adapts to franc’s appreciation against euro
On 15 January 2015 the Swiss National Bank discontinued the Swiss franc/euro minimum exchange rate introduced on 6 September 2011. This decision was totally unexpected, surprised eve-rybody and came as a shock to the...
How to manage your trademark portfolio in the Middle East
Do you really need an experienced trademark attorney to manage your trademark portfolio in the Middle East, or can you simply manage your trademarks through entrusting the agent that quotes the least in its...
Kerfuffle around section 3(d) of Patents Act refuses to die down
Section 3(d) of the Patents Act, 1970, by far, has been one of the most controversial provisions of India’s intellectual property (IP) regime. While India’s domestic pharmaceutical industry vouches for its role in establishing...
Key points in sending a collection letter to domestic party in default
Due to the revision of macro policies, overcapacity in certain industries, financing and operational difficulties of industrial enterprises, etc., manufacturing-type foreign-invested enterprises recently are commonly facing the problem of domestic buyers defaulting on their...
FATCA reporting for Hong Kong and mainland financial institutions
Hong Kong financial institutions that had been scrambling to meet the 31 March 2015 deadline to file reports to the US Internal Revenue Service (IRS) under the US Foreign Account Tax Compliance Act (FATCA)...
Argentina’s legal framework spurs quick growth in biotechnology
Following on from a diversified menu of sectoral incentives to develop investment projects in Argentina, in this issue, we would like to focus on the sectors that demand a higher level of innovation, knowledge...
Return path for red-chip structures requires some sound compliance
With changes in policies towards variable interest entities (VIEs) in China, and in foreign capital market environments, the dismantling of well-erected red-chip structures followed by the seeking of domestic listings has become the choice...
Specialised IP courts lay solid foundation for future reforms
Arguably the most significant change in China’s intellectual property (IP) system in 2014-2015 is the launch of the specialised IP courts. Although the idea came from the mid-1990s, the speed with which China set...
Covering the bases in financing via corporate debt instruments
In order to guard against risks, the central government requires local governments to control and oversee the scale of issued debt, but relevant information shows that the issuance of debt by local governments and...
What to watch when taking equity stakes in urban commercial banks
In recent times, with the intensifying demand for a “full complement of financial licences”, another wave of acquiring equity stakes in commercial banks – especially in urban commercial banks (UCBs) – has rolled in....
Securing more comprehensive design patent protection
The design patent protection system in China has some unique advantages, such as low fees and rapid granting of rights. When hearing a design patent infringement case, a judge also faces relatively few difficulties,...
3D relief model for TV variety shows under IP framework
As stated in the previous issue’s column, the Copyright Law provides important relief measures for variety shows and their rights holders. In practice, courts can provide further effective relief measures for variety shows through...
Ignorance of prohibitory rights of marks inherent in cancellation system
The second section of article 49 of the Trademark Law specifies that “where a registered trademark is becoming a generic name in a category of approved goods, and the mark has not been used...
Balance needed in interpreting insurance contract obligations
In the rulings mentioned in last month’s column, even if there was no problem to finding that an insurance contract relationship had been established, and that the liability exemption clauses had not entered into...
Using sound taxation planning under ongoing system reforms
With the intensification of reform, China has undergone a number of tax reforms, two of which have been large. The first was in the 1990s, which saw the first steps taken in establishing a...
Good judgment
Having the Permanent Court of Arbitration conducting arbitrations in Hong Kong is a vote of confidence in the SAR, writes Secretary for Justice Rimsky Yuen, SC
Hong Kong began the year of 2015 with wonderful...
Global reach
As Chinese enterprises get more creative, they are increasingly facing IP protection problems when expanding abroad. Joanna Law reports on some of the challenges
With China’s ambitious goal of shifting the label of “made in China”...
Evidence management avoids building disputes
Evidence is crucial for finding facts in any case. Considering the finality of arbitration cases, parties need to pay more attention to adverse consequences caused by the inability to provide evidence.
In a recent construction...
Case profiles proof of pudding for HK arbitration
The Hong Kong International Arbitration Centre (HKIAC) introduced its Administered Arbitration Rules in 2008. Amendments were made to the rules and took effect on 1 November 2013, and were listed as one of the...
Dispatch developments in Shenzhen, Shanghai and Anhui
Following the amendment of labour dispatch rules in the Employment Contract Law in 2012, and the Interim Labour Dispatch Regulations that took effect in 2014, local governments have successively issued implementing rules for the...
Draft regulations on mass lay-offs released for public comment
The Ministry of Human Resources and Social Security released draft regulations on mass layoffs for public comment on 31 December 2014. The draft mass layoff regulations reiterate the requirements on mass lay-offs – defined...
Finer points of FATCA reporting for HKFIs
Under the Foreign Account Tax Compliance Act (FATCA) intergovernmental agreement (IGA) between Hong Kong and the US, the deadline for the first FATCA reporting was 31 March 2015. Here we discuss the reporting requirements,...
New measures for admission of talent, professionals and entrepreneurs in HK
In February 2015, the Hong Kong Immigration Department (HKID) announced new initiatives and enhancement measures to Hong Kong immigration policies governing the admission of talent, professionals and entrepreneurs. The new initiatives and enhancement measures...
Covington hires labour expert
Covington & Burling has recruited an employment expert in response to the increasing needs of its clients in China.
Grace Chen has joined Covington as of counsel in its Beijing office. She has more than...
BLP boosts its Asia presence with Haley & Co acquisition
Berwin Leighton Paisner (BLP) has laterally hired a key team of lawyers from Haley & Co in a move enhancing its arbitration, construction and major projects expertise in the Asia region.
Haley & Co founding...
Former NDRC official joins Jones Day in Beijing office
Jones Day has added a former deputy director of the China National Development and Reform Commission (NDRC) to the firm’s antitrust practice.
Xue Qiang joined the firm as of counsel in the antitrust and competition...
COLI buys property portfolio through two-way arrangement
China Overseas Land & Investment (COLI), a Hong Kong-listed developer of property projects, recently reached an agreement to acquire a portfolio of property projects from CSCECL, through what has been designed as a packaged...
Heavy fine sends warning signal to advertisers in China
A recent report from the Shanghai Administration for Industry and Commerce revealed a record case of false advertising, and China’s increasingly tightened regulatory control over advertising formed the backdrop for the case, a legal...
New tax rules aim at VIE-structured companies
New rules from China’s tax regulator signal that the country is actively participating in the global battle against tax avoidance and evasion, and Chinese companies with offshore VIEs (variable interest entities) are the main...
IP evolutions
This month, China Business Law Journal focuses on intellectual property (IP) in line with its commitment to the International Trademark Association and its 137th annual meeting, which is being held in San Diego in...
Grievance redressal agency for financial services to be formed
In the interest of enhancing consumer protection in the financial services sector, the finance minister has announcedthe creation of a task force to form a Financial Redressal Agency (FRA), which will address grievances against...
NBFCs to enjoy SARFAESI protection
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), provides certain measures for recovery of non-performing assets to “financial institutions” as defined under section 2(1)(m) of SARFAESI. The...
Exposing India’s dark underbelly
Is business driven by innovation or ill-gotten gains?
According to Rajeev Chandrasekhar, the former owner of BPL Mobile and a respected commentator on corporate affairs in India, it is the latter. His comment about the...
The other half
New rules under India’s Companies Act may mean more women in corporate boardrooms. Will this help to correct the gender imbalance across Indian businesses and law firms? Vandana Chatlani investigates
“Ihonestly think that there should never...
Tapping the London markets
Alasdair Steele, a partner at Nabarro, explores UK fundraising opportunities for Indian companies
London is a leading financial centre for international fundraisings. 2014 saw the equity markets come back to life following a period dominated...
Capital crunch
Will India Inc be forced to break its new found addiction to overseas debt markets? Rebecca Abraham investigates recent bond issues to find out
Over the past year several Indian companies of varied strength and...
The need of the hour
India must overhaul its machinery for resolving tax disputes, writes Aseem Chawla at MPC Legal
The efficiency of a tax administration system depends to a great extent upon the credibility of its dispute resolution mechanism,...
Taking stock
Indian lawyers reflect on the challenges facing the legal profession.
Vandana Chatlani reports
Brothers Shardul and Cyril Shroff, the managing partners of Amarchand Mangaldas have been engaged in mediation since November in an effort to resolve...
Time for action
Companies should prepare now for the introduction of the goods and services tax, which is scheduled to take effect a year from now. Girish Vanvari and Santosh Dalvi explain
An immediate concern for anyone contemplating an...
Blurred lines
With the boundaries between telecoms, retail and other sectors becoming less well defined, Kalpana Tyagi calls for a new approach to tackling competition law challenges
Telecommunications companies that traditionally offered only fixed line telephone services now...
Making sense of the budget
Rohan Shah, Rohit Jain and Divya Jeswant outline the key developments, their implications and action points for in-house counsel
The 2015-16 budget was expected to be a landmark event and finance minister Arun Jaitley announced several...
Special additional duty refund for ‘deemed sales’
Importation of goods into India attracts customs duties including special additional duty (SAD). This is in lieu of central sales tax/value-added tax (VAT) levied on the sale of goods in India. Notification 102/2007-Customs, dated...
Concept paper on finance SEZs: A welcome initiative
An increasing amount of business in Indian rupee denominated financial products and other financial products dependent on the performance of the Indian economy is either being conducted offshore or is being shifted to offshore...
Regulations fine-tuned for external commercial loans
The Reserve Bank of India (RBI), with a view to liberalizing the external commercial borrowing (ECB) norms, has introduced changes to the extant norms, which entered into force with immediate effect. The changes expanded...
Decoding requirements for construction-development
Real estate is one of the sectors which has always been watched closely by regulators and private equity investors. Foreign direct investment (FDI) is not permitted in any entity which is engaged or proposes...
Economic opportunities and company models in Italy
The opportunities arising from economic investment in Italy should be considered along with favourable factors such as an advanced know-how system, highly qualified human resources and a strategic geographical position between the Mediterranean area...
Hotel reforms in Dubai: Setting the stage for 2020
Known globally as both a business and tourist destination, Dubai is home to over 80,000 usable hotel rooms and has an average occupancy rate of 76%, the highest occupancy rate of any city in...
New insider trading rules: Issues for due diligence
The Securities and Exchange Board of India (SEBI) has recently published the SEBI (Prohibition of Insider Trading) Regulations, 2015, which, once effective, will replace the SEBI (Prohibition of Insider Trading) Regulations, 1992.
An inherent problem...
All you need to know about cover versions!
Cover versions are new recordings of a previously recorded or commercially released song by someone other than the original artist or composer. Usually non-commercial in nature, cover versions are often created by amateurs and...
Debate on nature of offence of copyright infringement
Section 63 of the Copyright Act, 1957, lays down the punishment for copyright infringement. Section 64 of the act empowers the police to “seize infringing copies” without a warrant. While from a copyright law...
Regulatory revival: Not an option but a compulsion
The Reserve Bank of India (RBI) has given foreign investors reason to cheer by bringing clarity to the vexed issue of optionality clauses in foreign direct investment (FDI). The regulator must be applauded for...
Top court upholds definition of non-performing asset
A key aim of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, is to facilitate the recovery of amounts due to secured creditors, without the intervention of civil...
CCI order set aside due to violations of natural justice
The Competition Appellate Tribunal (COMPAT), in a judgment on 23 February, held that the Competition Commission of India (CCI) must follow the principles of natural justice when discharging its statutory functions under the Competition...
Proposals to strengthen the clearing corporations
The core of risk management for any clearing corporation (CC) is collateral deposited by the stockbroker or trading or clearing member with the CC. Participants bring risk to the system by way of trades...
Resource investments must consider Aboriginal rights
Canada’s constitution recognizes and affirms treaty rights and other rights of indigenous peoples. This creates a fiduciary duty on the part of the federal and provincial governments with respect to Aboriginal peoples. The nature...
Long-term export advances: A boost for ‘Make in India’
In consonance with the Indian government’s campaign of “Make in India”, the regulators seem to be doing their bit to facilitate business and trade. Data from the Ministry of Commerce and Industry show that...
Law does not cover state’s public works department
In Shri Rajat Verma v Public Works (B&R) Department, Government of Haryana & Ors, the Competition Commission of India (CCI) refused to initiate action against the Public Works Department of the state of Haryana...
Madras High Court protects actor’s personality rights
Madras High Court granted an injunction to restrain the makers of the film Main Hoon Rajinikanth from using actor Rajinikanth’s name, caricature, style and image to prevent the infringement of his personality rights.
In Shivaji...
Served from India Scheme applies to foreign subsidiaries
In a single judgment on three petitions against the Union of India, filed by Yum Restaurants (I) Pvt Ltd, Nokia Solutions and Networks India Pvt Ltd, and EI DuPont India Pvt Ltd, Delhi High...
Delhi High Court upholds exemption for promoting trade
In India Trade Promotion Organization v Director General of Income Tax (Exemptions) & Others, Delhi High Court allowed the petition of ITPO challenging the withdrawal of certain income tax exemptions it was granted until...
Foreign exchange management rules modified
The RBI has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (TISPRO Regulations), by way of the TISPRO (Seventeenth Amendment) Regulations, 2014, as follows:
The...
E-filing option for form FC-GPR
Through a circular dated 12 February, the RBI has enabled the online filing of the advance remittance form (ARF) and FC-GPR form under the Indian government’s e-biz project. The ARF and FC-GPR form are...
Curbs on foreign investment in bonds amended
The Reserve Bank of India (RBI) through a circular dated 3 February has introduced conditions for foreign portfolio investors (FPIs) to make future investments in and redeem corporate bonds. The circular has introduced the...
Quality Investment merger approved
The Competition Commission of India (CCI) has given the green signal to Quality Investment Holdings for its proposed acquisition of the entire share capital of Destimoney Enterprises.
The proposed combination will also result in the...
Government sells 10% of Coal India
The Department of Disinvestment has divested a 10% stake in Coal India through an offer for sale on the BSE (Bombay Stock Exchange) and the National Stock Exchange of 315.8 million shares, with an...
Shanghvi buys 23% of Suzlon Energy
Sun Pharmaceuticals founder Dilip Shanghvi and his associates have purchased a 23% stake in Suzlon Energy.The deal was valued at approximately ₹18 billion (US$286 million) with an additional open offer size of approximately ₹28...
Mylan snaps up Famy Care units
Pharmaceutical giant Mylan will pay US$750 million in cash, plus additional contingent payments of up to US$50 million, to private equity firm AIF Capital to acquire certain female reproductive health care businesses from Famy...
Symphony Teleca scores with Aditi
Symphony Teleca Corporation India has completed the purchase of a majority stake of Aditi Technologies from the company’s shareholders.
Aditi Technologies helps companies run and transform their businesses with cloud platforms.
Symphony, a global innovation and...
New course for Indian lawyers
Chicago-based India Professional Education Group (IPEG), and the Society of Indian Law Firms (SILF), have announced that SILF will act as the certifying authority for IPEG’s new Level 6 Certification Programme for Indian lawyers...
TMT’s space mission with NUJS
Boutique law firm TMT Law Practice has partnered with the National University of Juridical Sciences (NUJS) in Kolkata to set up a forum for air and space law research and advocacy.
The forum is expected...
Bankers bat to beat lawyers in cricket
The bankers defeated the lawyers in their annual charity cricket match, which took place on 31 January in Mumbai.
The bankers were on top form, batting first to score 177 for 5 off 22 overs....
DSK clinches Masters Cup
DSK Legal delivered a stellar all-round performance to claim victory in the Economic Laws Practice (ELP) Masters Cup 2015 at the Police Gymkhana Cricket Ground in Mumbai on 22 February. This is the second...
Parsons completes walk to Bangalore
On 8 February, Chris Parsons, a partner and chairman of the India practice at Herbert Smith Freehills, completed a charity walk to raise money for the Loomba Foundation, which supports Indian widows and their...
SILF champions LGBT rights
The Society of Indian Law Firms (SILF) has published the 2013 Tagore Law Lectures in a book titled Sexual Orientation and Gender Identity – A New Province of Law for India.
The lectures, discussing the...
KhattarWong weds Withers
International law firm Withers has created a formal alliance with Singaporean law firm KhattarWong. In April, the two firms will form Withers KhattarWong, offering Singapore, UK and US legal advice to clients. Withers will...
IP boutiques confirm merger
IP firms Lall & Sethi and Singh & Singh have agreed to merge their practices by 1 April. The combined firm will be called Singh & Singh Lall & Sethi and will have nine...
PKA partner packs up for DGS
Bhumesh Verma, a former partner at PKA Advocates, has joined DGS Associates.
Verma, who has also worked at Khaitan & Co and Ashurst, said that after “five wonderful years” at PKA, he was happy to...
Cipla group general counsel quits for class
Murali Neelakantan resigned from his position as global general counsel of Cipla on 4 February to pursue policy work and teaching opportunities.
Neelakantan has taught courses at the National University of Juridical Sciences in Kolkata...
Legal services an asset
Dear Editor,
I refer to the possible opening up of the Indian legal market and your article on it (in the December 2014/January 2015 issue). I welcome the entry of foreign law firms into India...
Well-crafted article
Dear Editor
I read the cover story of the February issue (Shutting up shop) with great interest. I must compliment you on a very incisive, comprehensive and well-crafted piece. I especially liked the way that...
Non-compete clauses
In commercial transactions, it is common for one or both parties to provide non-compete undertakings. For example, in a business acquisition, the seller of the business may agree that it will not compete with...
Switzerland: enhanced tax transparency according to international standards
Based on a general decision taken by Switzerland’s Federal Council in March 2009, Switzerland provides for administrative assistance in tax matters upon specific request only, and exclusively for those jurisdictions with which a respective...
Understanding Dubai’s user-friendly rules for establishing a business
Dubai is a city with a diverse and vibrant culture. With an economy historically built on the oil industry, Dubai’s main revenues come from tourism, trade, aviation, real estate, and financial services.
Not only does...
India well on the way to granting protection for utility patents
Utility patents are relatively short-term rights granted for inventions that may not qualify under the stringent criteria of patentability like inventive step, or non-obviousness, but are inventions in their own consideration. Like patents, utility...
Pre-trial injunction applications and problems in dispute cases
The term “pre-trial injunction”, also known as a “pre-trial order to cease the act in question”, means that a party requests, before the institution of a legal action in a dispute case, that the...
China and Hong Kong: nowhere to hide for US tax evaders
Last December, a US court granted the Internal Revenue Service (IRS) permission to serve what are known as “John Doe” summonses on FedEx Express, FedEx Ground, DHL, UPS, Western Union, the Federal Reserve Bank...
Regulation aimed at accelerating development of auto industry
In the previous issue of this column, we presented an overview of the legal framework in effect, highlighting that foreign investors – and their investments – are protected by Argentine law. Their rights are...
