After having prepared the first draft of the new data protection law back in 2014 (which was ignored by the Government in the meantime, and even dismissed by the Ministry of Justice's introduction of a separate draft law in 2015), the Serbian Data Protection Commissioner ("Commissionaire")1 published the second draft of the new law on March 6th, 2017 ("Draft") ...
The March issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw Partner Jose Florante M. Pamfilo entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no ...
A debtor files for bankruptcy protection, and his or her creditors are sent notice of the filing. Despite having received the notice, due to a breakdown in internal procedures one of the creditors, a bank, accidentally takes action to collect on the debt after the filing of the bankruptcy case – thus violating the automatic stay. Since the violation was unintentional, surely the bank cannot be sanctioned, right? Wrong ...
In our previous articles (part one, part two and part three), we discussed ways in which trademarks are maintained and protected through filings that are mandatory and which filings would result in abandonment or cancellation if not timely submitted. There are also optional filings a trademark owner can take advantage of to optimize and secure its rights under a U.S. trademark registration. An Affidavit of Incontestability Under Section 15 is one such method ...
Originally published in the West Virginia Law Review ...
As consumer bankruptcy filings remain an all-too-common occurrence, many lenders continue to find themselves in the often murky world of bankruptcy. As a result, on top of ensuring adherence to the numerous confusing regulations applicable to commercial loan transactions, lenders must navigate the federal bankruptcy laws. This article sheds some light on one bankruptcy process lenders are often faced with: reaffirmation agreements ...
In the 21st century, cinema and film play a major role not only in our social activities, but also as a tool for learning about our history, addressing the issues faced in society and imagining what the future of a more innovative world would look like. However, the legal implications of telling a story through film, the cinema and television, go far deeper. Issues of copyright infringement, particularly within the Hollywood and Bollywood context, have found their way to the court room ...
The 2017 edition of the annual Brand Finance Global 500 report on the world’s most valuable brands was recently released. It’s fairly predictable, yet still makes for interesting reading. According to the report, the most valuable brand in the world is Google, which has a value of roughly USD109-billion. Google has leapfrogged Apple, which held the top spot for some five years ...
In terms of the Companies Act, 2002 (Cap RE 212) (the “Act”), every company incorporated or registered in Tanzania as a branch of a foreign company has an annual filing obligation with the Registrar of Companies, also called the Business Registrations and Licensing Agency (“BRELA”) ...
The background can be summarised simply: South Africa’s state broadcaster, the SABC, commissioned a filmmaker to make an investigative documentary for its factual genre TV channel. The filmmaker made the documentary and the SABC paid the fee (thus making it the owner of the copyright in the documentary under South African law). However, the SABC decided against airing the documentary ...
In addition to registering your trade mark with the Companies and Intellectual Property Commission (“CIPC”), brand owners should also ensure that their trade marks are protected online. One way of doing so, is by registering a domain name. What is a domain name? A domain name allows a party to establish its identity on the internet. It assists internet users to easily identify you on the internet and to access your site on the web ...
Government has proposed that companies and individuals no longer need the South African Reserve Bank’s approval for “standard intellectual property transactions” and that the “loop structure restriction for all intellectual property transactions” be lifted, provided that such transactions are arm's length and at a fair market price ...
There is currently speculation in the media that Liberal Finance Minister Bill Morneau's next federal budget will increase the capital gain inclusion rate from 50% to 75%. The combined marginal tax rate on capital gains is currently 26.7% for a resident of Québec. This rate would reach nearly 40% if the budget was to increase the capital gain inclusion rate to 75%. A $1,000,000 capital gain would thus generate approximately $133,000 in additional taxes ...
On February 23, 2017, Law N°21,000 (the “Law”) was published in the Official Gazette of Chile, creating the Commission for the Financial Market (the “Commission”), a professional body and technical entity that will replace the current Superintendency of Securities and Insurance (“ SVS “). The Law will enter into force in August 2018, or at an earlier date if the Commission becomes operational sooner ...
The IRS announced its 2017 annual "Dirty Dozen" list of Tax Scams on February 17, 2017. Finding individuals who are hiding accounts and assets offshore to avoid taxes continues to make the list, indicating this is one of the IRS's highest priorities ...
The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies ...
Political uncertainty dominates the headlines, with the fallout from Brexit continuing, leadership changes in the USA and further elections soon to take place across Europe. The legal landscape in Scotland also continues to change ...
Russia has significantly revised its arbitration laws by adopting two Federal Laws (hereinafter referred to as “Arbitration Laws”)1, which came into effect on September 01, 2016. The main aim of the arbitration reform in Russia was elimination of so-called “pocket” arbitration institutions and improvement of overall quality of arbitration process in Russia ...
The largest U.S.-based for-profit multi- campus international university became the first benefit corporation to go public on February 1, 2017 raising $490 million. This is a significant financial event and shows that the financial markets are available to companies that combine a positive social and environmental purpose along with shareholder profit ...
Corporate Income Tax Law: The most important change to the CIT Law is the introduction of the obligation for a non-resident tax payer to file the tax return for capital gains it generates in Montenegro. The non-resident will have to file the tax return within 30 days after the income was generated. The tax authorities will assess the tax in their resolution. Until now, capital gains tax was paid on a withholding basis ...
The Ministry of Transport National Infrastructures and Road Safety published a notice regarding a revision to the penalty amounts set out in the Aviation Services Law. Revisions were under the (Compensation and Assistance for Flight Cancellation or Change of Conditions), 5772 - 2012 (the "Law") and the Aviation Services Regulations (Compensation and Assistance for Flight Cancellation or Change of Conditions) (Domestic Flights) 5773-2013 (the "Regulations") ...
On 1 January 2017, the Liechtenstein reform of the private limited company (Gesellschaft mit beschränkter Haftung; "GmbH") entered into force. While being highly popular in many other European countries, the GmbH in the past led a merely marginal existence in Liechtenstein ...
Comment letters issued in 2016 by the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to reporting E&P companies relating to their 2015 annual reports continue, as in past years, to focus on disclosure issues such as the effects of low commodity prices and proved undeveloped reserves (PUD) conversion rates ...
According to a recent study, 25% of new cars sold around the world will be self-driving by 20351. A group of researchers from Princeton University estimates that by 2035-2050 over half of American cars will be self-driving2. Smart cars are currently being sold in Québec and their advent is sure to have repercussions on several players. Self-Driving Cars Smart cars use information and communication technology in accident prevention systems with varying levels of automation ...
A judgment “peppad” with advice A recent South African court decision neatly summarises some of the major issues that need to be considered when comparing trade marks in South Africa. In the case of Dinnermates (Tvl) CC v Piquante Brands International (Pty) Ltd and Another, the facts were that a company applied to register the trade mark PEPPAMATE and a device depicting a pepper with a stalk in classes 29, 30 and 31 ...
