The Norwegian Data Protection Authority has notified Stortinget of an infringement fine of two million kroner and imposed an infringement fine of four million kroner on Østre Toten municipality. In both cases, the Authority emphasizes that it is a clear management responsibility to secure the business against such attacks, and that two-factor authentication, awareness-raising and an appropriate risk and vulnerability analysis are key measures ...
As anyone who’s interested in trade mark law knows, it is possible to protect product shapes through trade mark registrations, but it isn’t easy. In some countries, it’s particularly difficult, as two recent cases show. Vespa Let's start with the positive news. Piaggio recently secured an important victory in its home country, with an Italian court ruling that a three-dimensional trade mark registration for the shape of the famous Vespa scooter is valid ...
Carmen Verdonck and Stefanie Vyncke wrote the chapter onBelgian Law in the 2009 edition of 'Getting The Deal Through: VerticalAgreements'. This updated edition examines the regulation of distribution practices in jurisdictions worldwide.Antitrust law1 ...
This inBrief highlights the different aspects of venture capital, animportant source of raising money for start-up companies which donot have access to capital markets. We discuss the different types ofventure financing through which start-ups can raise money andwhich are taken into account when assessing valuations ...
With the well-known challenges of the last ten months or so, market conditions deteriorated substantially over 2022 and the venture capital (VC) market became a far more challenging one in which to agree a valuation and raise money. While those challenges are not over, from speaking to VC clients and others, there's a cautious optimism that as 2023 progresses the market will slowly improve ...
The National Venture Capital Association (US) has prepared various model venture capital documents for use in the industry, including a term sheet (the “NVCA Term Sheet”). These model legal documents are available at www.nvca.org. The American Bar Association has further commented on the provisions in the NVCA Term Sheet, in particular adding commentary including outlining any differences between the California corporations law and Delaware law ...
One of the amendments to the National Internal Revenue Code, as amended (the Tax Code), which was introduced by Republic Act (RA) No. 10963 (the Tax Reform for Acceleration and Inclusion (TRAIN) Law) and took effect on 1 January 2018, was the increase of value-added tax (VAT) from 0% to 12% on the sale of goods and services to export enterprises upon satisfaction of certain conditions under the TRAIN Law. On 11 April 2021, RA No ...
The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax. Federal decree law No.8 of 2017 deals with VAT. The imposition of VAT will commence in the UAE from 1 January 2018 at a rate of 5%. The VAT law provides a framework for implementation of VAT in the UAE ...
Background VAS Holdings & Investments LLC v. Commissioner of Revenue, No. SJC-13139, currently on appeal before the Massachusetts Supreme Judicial Court, seeks to answer whether a state can tax a nondomiciliary on 100%—or any—of its capital gain derived from the sale of its interest in a subsidiary solely because the subsidiary did business in that state ...
The Virtual Assets Regulatory Authority (VARA) is a regulatory body established by the government of Dubai to oversee and regulate the virtual assets industry. In line with its mandate, VARA has issued a number of rule books, in particular the Compliance and Risk Management Rulebook (CRM), which sets out the regulatory framework for virtual asset service providers (VASPs) operating in Dubai ...
The issue of the Dubai Law No. 4 of 2022 regulating Virtual Assets in Dubai (VA Law) issued in March 2022 created a lot of buzz and further strengthened Dubai’s position as a global hub for digital assets. The VA Law also established the Dubai Virtual Assets Regulatory Authority (VARA) which was tasked with creating a legal framework for virtual assets sector ...
Although the start of 2020 also shook up the M&A world, the market recovered especially in the second half of the year. At Van Doorne, the M&A specialists experienced this in the number of transactions: 32 of them. This puts the firm in 8th place in the Mergermarket Benelux League Table, based on the number of deals. In 2020, in Europe almost $850 billion was spent on a total of 6,658 transactions. This is an increase of 5.6% compared to 2019 ...
On April 11 2013, the Philippine Bureau of Internal Revenue issued Revenue Regulations No 6-2013 (RR 6-2013) amending certain provisions of Revenue Regulations No 6- 2008, which provides for, among other things, therules involving the determination of the fair market value of shares of stock not listed and traded in the local stock exchanges ...
According to the Institute for Family Business, over five million family businesses in the UK generate more than a third of UK GDP. In 2018, the family business sector paid £196 billion in tax (over a quarter of the Government's total revenue) and employed 14 million people in the UK (50% of private sector employment) ...
The value-added services (VAS) subsector in Nigeria is projected to generate USD500 million by theend of 2021. The subsector, which is regulated by the Nigerian Communications Commission, requires licences and approval before any intending player can operate or participate thereof. In thisarticle, our Rapheal Irenenexamines the relevant regulations in Nigeria and considers the impact of VAS on the telecommunication sector ...
New regulations are in force that require occupational pension schemes providing defined contribution (DC) benefits to demonstrate value for members or face consolidation. The New Regulations The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (the new regulations) came into force on 1 October 2021 ...
Comments on the consequences of failure to observe the required form when selling shares in a limited-liability company and the possibility of correcting this defect. The current Commercial Companies Code went into effect in Poland in 2001, stiffening the requirements with respect to the form for transfer of title to shares in a limited-liability company (sp. z o.o ...
December 1, 2023 By: Leah Lively California Business and Professional Code sections 16600 to 16607 already invalidate agreements restricting California employees from pursuing any lawful profession, trade, or business, with limited exceptions mainly in the sale of businesses. Starting January 1, 2024, things are going to get more difficult (and potentially costly) for employers ...
As of June 21, 2022, importers of goods from China and other countries that contain China origin inputs of components or raw materials are subject to the enforcement provisions of the Uyghur Forced Labor Prevention Act (UFLPA). As a result, importers should now perform significant due diligence on all tiers of the supply chain of their imports and update their compliance policies and internal controls to address the risks of forced labor in their supply chains ...
From television commercials to naming rights for arenas, the topic of cryptocurrency has been hard to avoid. While cryptocurrency may be virtual, its creation or ’mining’ occurs in the real world. This mining poses a credit risk for utility companies, given the incredible amount of electricity required to operate a “mining” facility. For example, crypto mining company Core Scientific, Inc ...
By: Jack Darrington, Keven Rowe, and Landon Hardcastle Under a new Utah law, most providers of commercial financing or factors which are located in Utah or who lend to a Utah resident are required to register as a commercial financing provider with the Utah Department of Financial Institutions. Additionally, certain disclosures are required before engaging in most transactions. To some extent, the law mirrors Truth in Lending type acts passed in New York and California ...
The United States Trade Representative (USTR) announced a period for public comment on whether Section 301 product exclusions should be reinstated for certain Chinese-origin goods. The product exclusions eligible for potential reinstatement are the relatively small subset of exclusions for which the USTR had both previously granted an exclusion and an extension of the exclusion ...
