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Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Green Shoe Option Concept in Indonesian IPOs

A. Introduction

The securities market where public offerings are conducted contributes an important role in the economic development of a country, including Indonesia, in terms of moving the financial resources from public to corporate sector which allows companies to undertake various projects in favor of the economy development as well as general corporate purposes. On the other hand it also enables the public ("Investors") to invest their assets (i.e. savings) in gainful investments which allow them to participate directly in the profits of the corporate sector.

Newsletter March 2012 Edition

1. Local Uniqueness in the protection of IPR in Indonesia

The Government of Indonesia (GoI) consistently took action in the implementation of IPR protection. The GoI has stated that Gorontalo (the 32nd Province of Indonesia that located in North Sulawesi) becomes the Free Zone of IPR violations, as well as operations against counterfeit products in the said region. 

An Eye for an Eye….the Tragic Execution Of Ruyati And A Way Forward For Indonesia

Indonesia is in a state of shock following the beheading of Ruyati binti Satubi in Saudi Arabia, on Saturday 18 June. Ordinary Indonesian citizens are appalled at the barbarous treatment of one of Indonesia’s overseas workers and fellow citizens.

Indonesia’s Masterplan for Economic Development

Written by Darrell R. Johnson

There has been almost as much press coverage as questions about the Indonesian Government’s announcement in May of MP3EI.

Latest Consent or Addendum, Which One Shall Apply?

In the contract law theory, under Indonesian law, an agreement is deemed to have occurred if there is consent of the parties. This is according to the Civil Code as the applicable contract law, i.e. Article 1320 of the Civil Code:

No substantial similarity or in its entirety between trademarks “COBB” and “GOLDEN COB”

The Indonesian Trademark Appeal Commission in their decision number 79/KBM/HKI/2009 dated 08 May 2009, states that trademark “COBB” is having substantial similarity in its essential part with trademark “GOLDEN COB” under registration number 517524 to cover similar kind of goods which is class 31. Therefore, trademark “COBB” is rejected due to prior registration of trademark “GOLDEN COB”.

Franchising Law - Indonesia

August 2010 - Corporate & Commercial. Legal Developments by DNC .

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Indonesia’s franchise industry has been significantly developing in recent years. Dominated by small and medium companies, in 2009, Indonesian franchise’s yearly turnover reached US$ 9.5 billion and the number is still increasing to date. Recent research has expected yearly turnover to exceed US$ 10 billion by the end of 2010. The research also records domination of domestic franchise over foreign franchise distribution.

Regulation on Pre-Notification of Mergers, Consolidations and Acquisitions in Indonesia

Mergers, consolidations and acquisitions are three means commonly used by businesses, among other things, to expand and increase their efficiency. They can also attract the attention of competition regulators, as these types of transactions can result in an increase of concentration in the relevant market, which may eventually result in the occurrence of monopolistic practices and/or unfair business competition, as defined by the relevant laws.

DIRECTOR’S RESPONSIBILITIES IN A LIMITED LIABILITY COMPANY

In a Limited Liability Company (”Company”), the Director is one of the Company’s organs who oversees the activities of the Company. In overseeing the activities of the company, the Director has the right and authority to act for and on behalf of the Company.

INDONESIA - INTEGRATED ONE-STOP SERVICES IN THE CAPITAL INVESTMENT SECTOR

October 2009 - Corporate & Commercial. Legal Developments by Makarim & Taira S..

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On 23 June 2009, Presidential Regulation No. 27 of 2009 on Integrated One-Stop Services in the Capital Investment Sector (“PR 27”) was issued. PR 27 was enacted to implement Article 26(3) of Law No. 25 of 2007 Regarding Capital Investment (“Law 25”), which requires the issuance of a Presidential Regulation for further implementation of the “one gate policy in investment services”.

QUORUM DETERMINATION TO BREAK THROUGH GMOS DEADLOCK

In a General Shareholder Meeting ("GMOS"), we often discover that a quorum is unattainable due to the absence of shareholders even though the shareholders have been officially summoned to attend the GMOS. The absence of shareholders may result from a disagreement over the agenda of the GMOS. In such event, the Board of Directors or the Board of Commissioners may issue the summons for the second GMOS. Furthermore, if the second GMOS quorum is still unattainable, according to Law No. 40 Year 2007 regarding Limited Liability Company ("UUPT"), the company may request that the Head of the District Court, who has jurisdiction over the company's domicile, determine the quorum for the third GMOS. The UUPT regulates this matter in order to avoid a deadlock in making decisions, which may hamper the company's business activities.

COLLECTIVE RESPONSIBILITY OF A COMPANY’S BOARD OF DIRECTORS

In a company, the Director or the Board of Directors plays a very important role in managing the company's daily activities, which could result in two possibilities, the growth or the loss of the company. In order to achieve such goals, the Director or the Board of Directors needs to have sufficient knowledge in order to manage and develop the Company because as a professional, the Director is granted valuable powers, by the law or by the Articles of Association of the Company.

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