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Although Nicaragua is still the second poorest country in Latin America and the Caribbean, in economic terms the country has been on an upward trend since 2008, maintaining growth levels above the average for the Americas as a region. While the GDP has visibly benefited from macroeconomic stability, direct foreign investments and the continuous expansion of exports, (particularly agricultural goods and textiles), the mining, renewable energy and real estate sectors have also become solid contributors to the nation’s growing economy. However, poverty, public-sector corruption and the de facto limits on the effective protection of private property rights all remain major challenges for the country and continue to create uncertainties for foreign investors. Daniel Ortega’s government is now – rhetorically at least – moving to focus upon the improvement of living conditions after a period characterised as crisis control; however, the recent withdrawal of the National Democratic Coalition from the November 2016 national elections (a move that followed the Supreme Court’s exclusion of opposition candidate Luis Callejas from the ballot), and Ortega’s decision to ban foreign electoral observers, bely the solidity and independence of the country’s institutions. Indeed, the Secretary General of the Organization of American State (OAS), Luis Almagro, recently expressed his preoccupation with the political situation in Nicaragua, calling for ‘transparency and the participation of all’ in the elections, while Nicaragua’s Episcopal Conference deplored what it considered an attempt to promote conditions for ‘the implanting of a one-party regime’ in the country.
These preoccupations notwithstanding, Nicaragua’s increasing economic prosperity is not only attracting a flow of foreign investment, but is also having positive effects on the (private practice) legal landscape. First-rate domestic firm Alvarado y Asociados continues to ensure strong competition in the growing corporate and finance sector, which is mainly dominated by regional heavyweights such as Arias & Muñoz, Central Law Nicaragua and Consortium Legal, which have been present in the country for years. The latter recently entered a strategic partnership with Bendaña & Bendaña and Salazar & Bendaña to open a joint office in San Juan del Sur, just like BLP, which, after entering the market only two years prior, expanded its presence in the country by opening its second office in the city in the Rivas region. On the domestic level, real estate boutique Argüello Pereyra & Asociados and E.Castillo & Asociados merged to create E. Castillo & Argüello Advisors, a full-service offering that operates from Managua and San Juan del Sur, with a third office planned to open in Rivas in 2017.
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Every day, we become more aware of the importance of protect- ing our environment, climate changes occurring on an almost daily basis have made that need clear. It is for this reason, that even though it is of upmost importance that we protect all of our natural resources, water as a finite life source is one of the most important and one of the resources requiring the most protection and preservation.
Having our legislation reserved a space for forty-five years for a proper regulation of Investment Companies, since the adoption of the Special Law on Financial Companies, Investment and others, known as Decree 15-L of April 9, 1970, and various attempts along these years; today Nicaragua has a legal body that regulates such companies satisfactorily.
Over the years, trademark registration processes have increased in Nicaragua, as a result of different international conventions and treaties which collaborate to properly understand trademark registration process and use matter; besides, Law N° 380 “Law on Trademark and Other Distinctive Signs”, its regulation and the Intellectual Property Registry, consolidates the bases for a better legal protection for businessmen and consumers IP´ s related matters, providing them not only with legal protection, but also with the confidence to compete and offer their goods and services on the market.
In humanity ́s never-ending quest for improvement, technology plays a significant role as to the development of tools, production of devices and equipment, the upgrading of techniques, skills and processes which, in general, lead to the accomplishment of higher and higher goals that impact or influence our lives in different ways.
Belinda Green , Senior Associate | Monday 31 August 2015
…to the top of business, Nicaragua has witnessed the growth, development and progress of the mining industry in the recent years. According to information available on the Nicaraguan Mining Authority´s official website, there are more than 50 important mining-related projects representing more than 60 million dollars in investments, with worldwide investors including companies from China, Canada, United States, Peru, Mexico, Australia, Brazil, Japan, United Kingdom and others.
As a lawyer at Alvarado y Asociados in Nicaragua, I have had the opportunity to assist many investors that want to incorporate a company in this country.
Among the alternative means of dispute resolution, arbitration in commercial relations is a figure that over the years has been gaining territory over conflict resolution in the courts. Arbitration is a procedure by which the appointed arbitrators issue a binding decision on the parties in a dispute named award, which allows any differences raised in trade relations to be solved in a friendly, quick and impartial manner.
Among the alternative means of dispute resolution, arbitration in commercial relations is a figure that over the years has been gaining territory over conflict resolution in the courts. Arbitration is a procedure by which the appointed arbitrators issue a binding decision on the parties in a dispute named award, which allows any differences raised in trade relations to be solved in a friendly, quick and impartial manner. Arbitration in Nicaragua
Knowing the legal difference between a consultant and an employee is important for a company that needs to hire someone in Nicaragua or for a person interested in rendering services for a company or another person, due to the fact that the nature of the contractual relationship will determine many factors that both parties must be aware of before executing the contracting modality that will govern the relationship between them - the nature of the contractual relationship impacts on the employment benefits, tax implications and liabilities that the parties must comply with according to the law. labor_law_in_nicaragua
Piracy and copyright infringements are on the increase. As such, it is all the more important to take appropriate measures to protect one’s trademarks and intellectual property.
On October 12, 2016, VEGAS LEX organized a workshop, Advertising in the pharmaceutical sector: risk matrix , for representatives of pharmaceutical companies, manufacturers of medical devices and dietary supplements.
No distinction is made between “Mac” and “Mc” for the purposes of trademark law. The General Court of the European Union (EGC) ruled that whether the syllable includes an “a” is of no great significance (Az.: T-518/13).
Anyone who includes false statements in their application documents risks having their employment contract terminated with immediate effect.
The renewable energy company OX2 has been retained to construct the Lehtirova wind farm generating 148 MW (41 wind power turbines) in Norrbotten. The customer is Aquila Capital. Foyen Advokatfirma assisted OX2 in the negotiations regarding the turbine supply agreement and the service agreement with the turbine supplier, Vestas. The partner in charge at Foyen was Jacob Hamilton.
Members of the truck cartel will have to pay a fine totaling approx. 2.9 billion euros, and things could become even more expensive if damages claims brought by clients follow.
The IFLR1000 2017 Financial and Corporate rankings were published on October 14, 2016. VEGAS LEX improved its positions in Project finance and Mergers and acquisitions. Chairman of the Board of Partners Albert Eganyan was noted as a leading lawyer in the Project finance category.
The inheritance tax reforms have still yet to be finalized. With the Bundesrat, the upper house of the German parliament, having blocked the draft legislation on July 8, no further decision is expected to be taken before the autumn.
In an action brought by CL Educate Limited, the company behind Career Launcher (popularly known as CL), India’s premier test prep institutions, the Delhi High Court has restrained competitor Think and Learn Pvt. Ltd. (popularly known as Byju’s) and its directors from infringing and misusing CL’s trademarks to lure prospective students into enrolling.
Early signs of the new shape of IP litigation under the Commercial Courts Act are being seen in the speed with which the Delhi High Court disposed of a suit filed by Tata Sons Ltd. on the second date of hearing, applying the ‘summary judgment’ provisions contained in this Act.