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Legal market overview
The Saudi Arabian market has generally slowed down due to the drop in oil prices, and many projects are on hold as the government is channelling more funds into defence investments due to concerns over the war in Yemen and regional instability. Despite the geopolitical tension, corporate activity continued unabated with healthcare and education being key targets of investment. Notably, the government made efforts to further liberalise the capital markets and open them to foreign investment. That said, the Capital Markets Authority (CMA) has recently been more selective regarding domestic applications for IPOs and has put on hold most.
Clifford Chance LLP and Clyde & Co are the first two law firms in the Kingdom to establish joint Saudi and foreign owned law partnerships. In other noteworthy developments, Law Firm of Hassan Mahassni In association with Dechert LLP’s association arrangement was formed in September 2015 and Mohammed Al-Jadaan left Al-Jadaan & Partners Law Firm after being appointed as the chairman of the CMA in January 2015. Law Firm of AlSalloum and AlToaimi in association with White & Case LLP is the new name of the US firm’s local alliance, following the cessation of relations with Waleed Al-Nuwaiser.
Legal Business: country analysis
Behind the veil – Can Islamic finance live up to the sales pitch?
Islamic finance flourished during the downturn and has
emerged as a significant practice for both Middle East and international firms. How sustainable is the workflow and what lies ahead for the key players?
Click here to read the feature.
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by Jeremy Scott - email@example.com
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.