Recent reforms of mining laws in African nations have led to a movement away from regimes regarded by many as "investor friendly", with states seeking to assert greater control and generate increased revenues from their resources. However, the importance of a stable regulatory framework in attracting foreign investment has also been recognised. As states attempt to balance these competing goals, an increased focus on the harmonisation of mining law regimes across African regions could provide comfort to investors.
On 11 February 2014, the Council of the European Union unanimously adopted the new EU public procurement regime which had been approved by the European Parliament on 15 January 2014. Read more about these directives here.
In the past 50 years women’s legal status has improved all over the world. But many laws still make it difficult for women to fully participate in economic life - whether by getting jobs or starting businesses. Discriminatory rules bar women from certain jobs, restrict access to capital for women-owned firms and limit women’s capacity to make legal decisions. Gender differences in laws affect both developing and developed economies, and women in all regions.
Both the Russian and French courts considered asymmetric clauses to be inequitable and as such, invalid. In light of these decisions, caution should be exercised whenever you are considering incorporating an asymmetric clause.
The aim of a liquidated damages clause is to specify in advance the indemnification for a party that suffers from a breach of contractual obligations. Non-performance of a contract, without any evidence of actual damage, is grounds for pre-estimated compensation. This clause obviously limits the necessity to seek indemnification in court and is in demand in business contracts. However, if challenged, its efficiency may be greatly reduced by the intervention of a judge who has the power to modify the amount of the compensation determined in the contract. The distinction between liquidated damages and penalty clauses has a greater impact in common law countries than in those influenced by Civil Code tradition. This QuickCounsel assesses several court decisions in various European countries that bring to light these differences.
On average around the world, starting a business takes 7 procedures, 25 days and costs 32% of income per capita in fees. To operate and expand, the firm will need financing—from shareholders or from creditors. Raising money in the capital market is easier and less costly where minority shareholders feel protected from self-interested transactions by large shareholders. Good corporate governance rules can provide this kind of protection. But among the 189 economies covered by this article, 46 still have only very limited requirements for disclosing majority shareholders’ conflicts of interest—or none at all. In recent years, there has been remarkable progress in removing some of the biggest bureaucratic obstacles to private sector activity. Yet small and medium-size enterprises still are subject to burdensome regulations and vague rules that are unevenly applied and that impose inefficiencies on the enterprise sector. Learn more about the specific regulatory obstacles small and medium-size enterprises must navigate.
Agreements providing for commercial representation, promotion services or distribution are treated as fully distinct by Brazilian legislation. It is extremely important to observe the legal formalities. This article covers specific rules and obligations of contracting parties entering into these types of agreements.
Hear from ACC peers about how globalization has created new challenges and opportunities for ethics and compliance professionals. Find out how they are responding to the challenges and providing effective counsel to their organizations. Length: 3 minutes.
Hear from ACC peers about the third party business risks that can arise during a merger or acquisition and learn how they are helping their organizations make informed business decisions. Length: 3 minutes.
Hear from ACC peers about the emerging ethics and compliance risks that they are concerned about and why other organizations should be too. Highlighted risks include privacy, social media, retaliation, wage and hour, and others.Length: 5.5 minutes.