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UAE Introduces Filing Requirements Relating to Beneficial Ownership - Deadline of 27 October 2020
Afridi & Angell, October 2020

On 24 August 2020, the UAE issued Cabinet Resolution 58 of 2020 on Regulating the Procedures of the Real Beneficiary (the Resolution). The Resolution, amongst other things, aims to establish a legal framework for identifying and recording details of real beneficiaries of entities licensed to conduct business in the UAE. The Resolution is an additional step towards the UAE’s efforts in combating money laundering, the financing of terrorism and illegal organisations...

Legal 500 Country Comparative Guides
AELEX, October 2020

AELEX is the exclusive contributor to the Nigerian Chapter of The Legal 500 (Legalease): Franchise and Licensing Country Comparative Guides. The country specific Guide provides a pragmatic overview of how businesses can set up franchises and also license their technology and intellectual property rights in Nigeria. The Guide was authored by our Davidson Oturu,Tiwalola Osazuwa and Kofoworola Oyegunle. Please click here to read the Guide...

Arendt Weekly Update - 16 October 2020
Arendt & Medernach, October 2020

The Arendt Weekly Update is a newsletter designed to give you the insight you need without overloading your mailbox. It lists the latest news, topical webinars, training courses and more. NEWSFLASHES   Budget 2021: various tax measures to address the impact of the COVID-19 pandemic and support a sustainable recovery On 14 October 2020, the Luxembourg government filed the budget bill 7666 with the Luxembourg parliament...

The Impact of VAT on Your Business in China
PLMJ, October 2020

Defining your strategy and analysing the market are crucial when making the decision to invest in China, but the tax efficiency of the business has its own specific issues and investors should not neglect them either. The Chinese tax system has particular characteristics that you must get to know before investing. In this informative note, we will address some basic aspects of value added tax and the invoicing system...

Equitable Remuneration for Performers and Producers: Has the CJEU Hit the Right Note?
Lawson Lundell LLP, October 2020

In a judgment of 8 September 2020, the Court of Justice of the European Union (“CJEU”) ruled that Member States are not allowed to exclude performers who are nationals of States outside the European Economic Area (“EEA”) from perceiving the equitable remuneration provided by Article 8(2) of the Rental and Lending Rights Directive...

Why Is My Company Being Sued For Patent Infringement In Waco, Texas?
Hunton Andrews Kurth LLP, October 2020

Nestled midway between Dallas and Austin, Waco, Texas, with a population of around 144,000 people, is the home of the Texas Ranger Hall of Fame and Museum, the Dr. Pepper Museum, Baylor University, and Chip and Joanna Gaines’ Magnolia Market; and it now has one of the busiest courts for patent infringement in the nation. Approximately one in five new patent cases in 2020 were filed in the Waco Division of the Western District of Texas (WDTX)...

Court Rejects Challenge to M&A Transaction Despite Activist Pressure
Hunton Andrews Kurth LLP, October 2020

 In Rudd v. Brown, the Delaware Court of Chancery dismissed a stockholder’s claim that directors had breached their fiduciary duties by pursuing a sale of the company to avoid a proxy contest threatened by an activist hedge fund...

How to Protect my Trademarks and Ideas?
Morgan & Morgan, October 2020

You are undertaking a project for a new business, a startup.You already have the financial/commercial side well thought-out, and have commissioned a designer to sketch a logo and design a corporate identity under the brand you have decided to use. You buy stationery, signs, business cards, among others...

Coronavirus: Financing Moratoriums
PLMJ, October 2020

To combat the economic consequences of the COVID-19 pandemic, the government approved Decree-Law 10-J/2020 of March 26 (the “Decree-Law”). The Decree-Law established a set of economic measures to protect liquidity and treasury, and in this document, we focus on the financing moratorium...

Russian Bankruptcy Moratorium Extended until January, 2021
ALRUD Law Firm, October 2020

This is to inform you that the Resolution of the Government of the Russian Federation dated October 01, 2020 No. 1587, has extended the moratorium on bankruptcy of companies, at the request of their creditors, until January 07, 2021. In this regard, we would like to draw your attention to the key provisions related to the moratorium regime and its extension. Moratorium – the first results...

New California Family Rights Act: State Family Care and Medical Leave Expanded
Hanson Bridgett LLP, October 2020

Key Points Effective Jan. 1, 2021, most California employees — even those who work for very small businesses — will be entitled to 12 weeks of job-protected time off work under the CFRA for qualifying reasons. Qualifying reasons for leave are broadly defined to include caring for a family member — including grandparents, grandchildren, adult children and siblings — with a serious health condition...

10 Legal Considerations When Starting a Hemp Business in Alabama
Bradley Arant Boult Cummings LLP, October 2020

So, you want to start a hemp company in Alabama. You have your big idea and a business plan ready, but you begin to wonder whether you should be thinking about any legal issues as you get your company off the ground. That’s where we come in. Bradley’s Cannabis Industry team has a deep understanding of the many unique legal and business issues that impact hemp companies in Alabama and beyond...

Non-Compete Agreement Series: Everything You Need to Know (And Probably Don’t) About Covenants Not to Compete - Mississippi
Bradley Arant Boult Cummings LLP, October 2020

The next state in our series exploring non-compete agreements is the Magnolia State, Mississippi. Unlike Texas and Louisiana, Mississippi’s noncompete laws are purely creatures of the common law.  Mississippi has no statutory scheme in place governing covenants not to compete. For this chapter we are joined by my partners Justin Scott and Slates Veazey...

Forefront: Social Media Time Bombs that Go TikTok TikTok
TSMP Law Corporation, October 2020

  An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth...

Management of Occupational Safety and Data Protection Risks Arising During Work from Home - Part 2
Szecskay Attorneys at Law, October 2020

Part 2 of this series is about data protection. In case of questions, please contact Zoltán Balázs Kovács. How do you secure data in the home office environment? What policies should be in place to secure data and devices? What does a data breach mean? Employers must comply with the principle of accountability and demonstrate compliance (including by way of applying proper internal policies). This is important also from the perspective of data security...

Companies (Amendment) Bill 2020 — Proposed Changes to Beneficial Ownership of Shares in Private Companies
Shearn Delamore & Co., October 2020

In this article, Lee Yuan Yao looks at the proposed disclosure requirements on beneficial ownership of shares in private companies under the proposed Companies (Amendment) Bill 2020.IntroductionOn 29 July 2020, the Companies Commission of Malaysia (“CCM”) released a consultative document seeking feedback on the proposed Companies (Amendment) Bill 2020 (“CA Bill 2020”)...

Snapshot: Corporate Income and Franchise Taxes in the USA
Bradley Arant Boult Cummings LLP, September 2020

How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C” corporations that have nexus with the state and are not classified as “financial institutions” or insurance companies subject to a separate premium license tax; and it levies a FIET on business entities classified as financial institutions havin

Supreme Court Raises the Stakes for Directors of Distressed Businesses
MinterEllisonRuddWatts, September 2020

The Supreme Court last Thursday released its long awaited decision on directors duties engaged on a company’s insolvency –Debut Homes Limited (in liquidation) v Cooper[2020] NZSC 100. The decision has profound implications for directors confronted with a business experiencing material financial distress and more broadly, for creditors, lenders and the insolvency profession...

Startup Financing
Morgan & Morgan, September 2020

A company’s need for substantial amounts of capital is intensified when looking to grow quickly, or develop an innovative product that will disrupt the market in a meaningful way. This is true to any company, and is especially true to innovative and disruptive startups, which aim at creating new markets, revolutionizing existing ones and prevailing over traditional market participants...

Shareholder Rights Directive II Transposition
PLMJ, September 2020

Law 50/2020 of 25 August transposed into Portuguese national law Directive (EU) 2017/828 of the European Parliament and the Council of 17 May 2017 as regards the encouragement of long-term shareholder engagement. This directive is known as the Shareholder Rights Directive II and it amends the previous Directive 2007/36/EC of the European Parliament and the Council of 11 July 2007...

EU and Competition Law News - Competition Law and Policy 2nd Quarter 2020
PLMJ, September 2020

I. Portuguese Competition Authority Portuguese Competition Authority publishes final version of its analysis of loyalty policies in telecommunication contracts In April 2020, the Portuguese Competition Authority (PCA) published the final version of its report on "Loyalty policies in telecommunication services"...

The Brown Act Finally Meets Social Media
Hanson Bridgett LLP, September 2020

Key Points Governor Newsom signed a new law establishing Brown Act rules for social media communications. Members of a legislative body may communicate on social media without fear of creating a serial meeting in violation of the Brown Act. Members of a legislative body may not respond directly on social media to other members of the same legislative body. On Sept.18, 2020, Governor Newson signed Assembly Bill (AB) 992 into law...

Companies Still Permitted to Hold Meetings Without Physical Attendance Until 31 December 2020
Arendt & Medernach, September 2020

THE LAW OF 23 SEPTEMBER 2020 REGARDING MEASURES GOVERNING HOW COMPANIES AND OTHER LEGAL ENTITIES ARE PERMITTED TO HOLD MEETINGS HAS BEEN PUBLISHED IN THE LUXEMBOURG OFFICIAL JOURNAL. This law enables companies and other legal entities (such as ASBLs) to hold general meetings and other meetings of the company’s corporate bodies without the need for physical attendance, even where this is not provided for in the company’s articles of association...

Dubai Family Ownership of Common Property Law
Afridi & Angell, September 2020

On 13 August 2020, the Ruler of Dubai issued Law 9 of 2020 to regulate family ownership of common property in the Emirate of Dubai (the Law). The Law aims to establish a legal framework for family ownership of common property in Dubai and to facilitate its transmission among successive generations. This concept of undivided family assets introduced by the Law also exists in other jurisdictions. There are many family run businesses in Dubai...

SEC Adopts Significant Amendments to Regulation S-K and Accredited Investor and Qualified Institutional Buyer Definitions
Waller, September 2020

The U.S. Securities and Exchange Commission (SEC) has adopted several significant amendments affecting disclosure requirements under Items 101, 103 and 105 of Regulation S-K and also expanded the definitions of “Accredited Investor” and “Qualified Institutional Buyer” under Rule 501(a) and Rule 144A, respectively. As SEC Chairman, Jay Clayton, announced in the press release, Items 101, 103 and 105 have not undergone significant revisions in over 30 years...

 

 

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